Example of essay on the marketing mix: products and brands

Business description

A marketing mix consists of two main levels the strategic level and the tactical level. The strategic level aims at determining marketing decisions, analyzing opportunities, and value proposition. The tactical level composed of promotion, pricing, competition and target marketing. Marketing mix involves four major components, also referred to as the 4P’s, Product, Place, Price and Promotion (Business Case Studies). The service offered is pressure washing for houses, offices, buildings, and appliances such as sofa and carpets.

Mission

The mission of starting a pressure washing business is to provide clients with a spectacular clean through reaching every appliance using technologically advanced techniques.

General objectives and goals

Objective
The main objectives of starting pressure washing business are to offer set up a unique service business that attracts the attention of home dwellers, office users, and owners of business centers such as malls by offering excellent cleaning services.

Goals

The in-depth goal of the business is to generate high revenues of between $300, 000 and $350000 in the first year, and continue increasing revenues in the coming years. Additionally, the aims at increasing the initial customer base as more people in the community become aware of our services in order to achieve market growth rate of 5 percent in a period of 2 years. Awareness will be created through involvement in community affairs. Moreover, the business aims at expanding into other major towns and cities.

Competitive advantage analysis

Internal sources of competition of the organization acts as the most critical factors determining the success of the firm in the present competitive environment. A competitive advantage occurs when the organization delivers benefits same to those of competitors, but at lower costs, or delivers more benefits compared to competitors. Competitive analysis has a significant effect to a business because competitors act to strategic actions taken by a business while one has to react to competitors’ strategic moves (Ingram). The business aims at overcoming present competition through increased market share, enhancing brand strength, creating loyal customers and managing costs effectively. The product mix model in figure 1 helps in analyzing the competitive advantage of pressure washing business for houses and buildings.
Figure 1: Product mix model for Clean Ride Pressure washing business
Market penetration: In order to ensure effective market penetration, the business will offer lower prices in comparison with competitors. The quality of services will remain uniform in order to attract more customers
Service development: New and technologically improved services will be used. The business will purchase an automated pressure washing machine to increase the efficiency and speed of service.

Market development: The business will involve other services like checking home appliances and equipments and offering repair at discounted rates.

Diversification: Diversification in a business plays a major role in increasing the competitive advantage. The business will diversify into new incentives such as free drinks for customers, free internet access through Wi-Fi, and indoor games.

Target segments

Planning a marketing mix requires total knowledge of the target markets and their needs and preferences. An effective market strategy selects and defines one or more target markets and develops a marketing mix that adheres to the business goals and objectives. The business must understand the problem at hand before determining the target market (The Marketing Donut). The business targets residential houses and business buildings in major towns in United States. Most people are too busy with work that they never get time to clean their houses and other appliances like sofas and carpets. Additionally, office cleaning services are limited in the area, and a few people offering these services do not use pressurized techniques. On the other hand, the pressure washing services for houses, offices, and buildings has no limitations to specific target segment of the marker, which acts as one of the benefits involved in this service business. The target segment is big enough because more people machines will be purchased, and more people deployed to different parts of the city.

The service

The pressure washing business for houses will offer exclusive services to clients that will make them call back whenever the need arises. The services provided include carpet cleaning, seat cleaning, floor dusting, wall, and ceiling cleaning. Additionally, the business will diversify to other services like repair of worn out and broken furniture. Professional business people did the service selection process after conducting a thorough research about services offered by competitors. Designing a marketing mix plan requires the knowledge of the current market situation, availability of competing products and brands, and the target market. The main aim of developing a marketing mix is to achieve a competitive advantage in order to make more profits.

References

– Business Case Studies. Marketing Theory: Marketing Mix (Price , Place, Promotion,
– Product). 2014.
– Web December 4, 2014 http://businesscasestudies. co. uk/business-theory/marketing/marketing-mix-price-place-promotion-product. html#axzz3KwiCMyjY
– Ingram, D. The Advantages of Competitive Analysis in Strategic Planning. 2014. Web December
– 5, 2014 http://smallbusiness. chron. com/advantages-competitive-analysis-strategic-planning-18331. html
– The Marketing Donut. Six steps to defining your target market. 2014. Web December 5, 2014 http://www. marketingdonut. co. uk/marketing/marketing-strategy/your-target-market/six-steps-to-defining-your-target-market