The product The first market mix element is Product. A product is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a need or want. Product decision normally base on brand name, functionality, styling, quality, safety, packaging, repairs and support, warranty, accessories and services.
These product attributes can be manipulated depending on what the target market wants. Also, customers always look for new and improved things, which is why marketers should improve existing products, develop new ones , and discontinue old ones that re no longer needed or wanted by the customer.
Coco secret knows its position Just to be a small company and have to compete with a ton of big giants like the face shop and the body shop. Therefore, the products of Coco secret are special and unique.
They are virgin coconut oil and extra virgin coconut oil. They take full advantage of the image of a company from a country in which agriculture industry accounts for more than 70% – Vietnam. The virgin coconut oil is filled in a 60ml tube and sold in a form of a combination of 3 tubes.
On the other hand, the extra virgin coconut oil is roduced in a 500ml tube and The price Of all the aspects of the marketing mix, price is the one, which creates sales revenue – all the others are costs. The price of an item is clearly an important determinant of the value of sales made.
In theory, price is really determined by the discovery of what customers perceive is the value of the item on sale. Researching consumers’ opinions about pricing is important as it indicates how they value what they are looking for as well as what they want to pay.
As I have mentioned above, the Coco secret have to ompete with many giants in other to get some niche market in this beauty industry. Providing quality product at the lowest possible price has always been one of the main concerns of Coco secret. In other to do that, one of the ways they use is by expanding their use of inexpensive and recyclable plastic bottles and tubes.
The price for a combo of three 60ml tube is about 5 USD while one 500ml bottle is IOUSD. The place Although figures vary widely from product to product, roughly a fifth of the cost of a product goes on getting it to the customer. Place’ is concerned with various methods f transporting and storing goods, and then making them available for the customer. Getting the right product to the right place at the right time involves the distribution system.
The choice of distribution method will depend on a variety of circumstances. It will be more convenient for some manufacturers to sell to wholesalers who then sell to retailers, while others will prefer to sell directly to retailers or customers. The promotion Promotion is the business of communicating with customers. It will provide information that will assist them in making a decision to purchase a product or ervice.
The razzmatazz, pace and creativity of some promotional activities are almost alien to normal business activities. The cost associated witn promotion or advertising goods and services often represents a sizeable proportion of the overall cost of producing an item.
However, successful promotion increases sales so that advertising and other costs are spread over a larger output. Though increased promotional activity is often a sign of a response to a problem such as competitive activity, it enables an organisation to develop and build up a succession of messages and can e extremely cost-effective.
Brief Introduction: Promotion is a key element of marketing program and is concerned witheffectively and efficiently communicating the decisions of marketing strategy, tofavorably influence target customers’ perceptions to facilitate exchange betweenthe marketer and the customer that may satisfy the objective of both customer and the company. A company’s promotional efforts are the only controllable means to createawareness among publics about itself, the products and services it offers , their features and influence their attitudes favorably. Sony Marketing
Communication Mix: Sony India will spend Rs 200 crore in this financial year on advertising andpromotion (Promotional Budget) of the entire range of consumer electronics, outof which Rs 60 crore will be spent only on digital imaging products. The major elements of promotion mix include advertising, personal selling, sales promotion, direct marketing, and publicity.
Sony Corporation has used all of these marketing communication mix elements. Advertising Advertising is any paid form of non-personal mass communicationthrough various media to present and promote product, services and ideas etc. an identified sponsor. So far, SONY has advertised its products through many different waysand media. Through TV we have seen different advertisements of its productssuch as Bravia televisions or Sony wega TV.
Sony also advertise its products bytargeting those favorable television programs, like sports, series and also it hasits own channel called Sony TV channel. Sony uses some events like Miss India2008 to promote its products. Also, Sony has advertised its games like Playstation 3, Playstation 2and PSP using sports like football in England premiere league.
Through newspapers like Times of India, Sony has advertised a widerange of products it offers to its customers.
And also through Posters a messagehas been sent to a lot of people to be aware of the products which Sony offers Sony also uses direct – response advertising . This is type of advertisingthat encourages the consumer to respond either by providing feedback to theadvertiser or placing the order with the advertiser either by telephone, mail or theinternet. Such advertising is done through direct mail or catalogues. Sony incorporates co-operative advertising
Public Relations and Publicity Public relations is a broad set ot communication activities employed tocreate and maintain favourable relationship with employees, shareholders, 17 suppliers, media, educators, potential investors, financial institutions, governmentagencies and officials and society in general. Through its website, Sony corporation has its provided contacts for thosecustomers who will be in need of any information from the company. In this waySony can create a mutual relationship with its customers and ensure that itserves the wishes and demands of its customers.
pleasant situations arising as a result of negative events may precipitateunfavorable public reactions for an organization. To minimize the negative effectof such situations leading to unfavorable coverage, the company has policies andprocedures in place to manage help any such public relation problems. For example, Sony released an ad depicting a man smiling towards thecamera and wearing on his head a crown of thorns with button symbols (A, O, X, D). At the bottom, the copy read as “ Ten Years of Passion”.
This supposedly tookadvantage of the publicity from the Mel Gibson film The Passion of the Christ The advertisement outraged the Vatican as well as many local Catholics, prompting comments such as “ Sony went too far” and “ Vatican ex-communicatessony”.
After the incident, the campaign was quickly discontinued. Another example is that, In July 2006, Sony released a Dutch advertisingcampaign featuring a white model dressed entirely in white and a black modelgarbed in black. The first ad featured the white model clutching the face of theblack model. The words “ White is coming” headlined one of the ads. The ad hasbeen viewed as racist by critics.
A Sony pokesperson responded that the addoes not have a racist message, saying that it was only trying to depict thecontrast between the black PSP model and the new ceramic white PSP.
Other pictures of the ad campaign include the black model overpowering the whitemodel. So it’s the duty of the public relation department of Sony to solve such issuesas mentioned above so as to ensure that it maintains a good public relation withthe public. 18 in its advertising process. Sony corporation provides the dealers (e.
g. Sony World) with the materials andguidelines to develop ads for print, television or radio ommercials.
This ensuresthat message is in line with, what the manufacture wants to communicate. Thecompany and the dealers usually share the media costs and hence, the name’co-operative advertising.
Sales Promotion Sales promotion is a marketing discipline that utilizes a variety of incentives techniques to structure sales – related programs targeted tocustomers, trade, and/or sales levels that generate a specific, measurable actionor response for a product or service. Sales promotions for example includes free samples, discount, rebates, coupons, contents and sweepstakes, premiums, scratch cards, exchange ffers, early bird prizes, etc.
Sony has promoted its products through different sales promotionalstrategies. For example after the release of the Sony BRAVIA television sets, Sony promoted them by earl bird prizes by saying that all BRAVIA full HD LCDTVs purchased during July 2008 and registered within two weeks of purchasequalify for a Bonus Playstation 3 as long as the customer claims is one ot the tlrst35, OOO received and validated by Sony.
Also Sony has promoted its Sony Ericsson Pl i phones by including a scratchcards which gives the customer the offer to download 10 free softwareapplicat on for that mobile phone.
