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AVCE Business marketing mix

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Introduction

AVCE Business The Marketing Mix Brief Five All businesses need a marketing mix to achieve its marketing objectives. The marketing mix refers to the factors known as the four P's * Product * Place * Price * Promotion In marketing, product refers to both goods and service. Goods are physical objects, such as sports clothing, home entertainment equipment or food and drink. Services involve a combination of skills, information or entertainment, such as football match, use of a swimming pool or a theatre production. There are three critical factors to consider when developing a product: * Product characteristics * Position of the product within the product life cycle * Brand image of the product Without one of these three factors the product will not sell to its potential. Product characteristics like the brand are very essential when developing a product. Branding is the process that gives a product or service a distinctive identity with the aim of creating a unique image that will make it easily identifiable and separate from its competitors. For example, in blind tests 51 per cent of people prefer Pepsi. However, when customers can see the brand that they are drinking, 65 per cent say that they prefer Coca-Cola. What these 65 per cent of people are in fact saying is that they prefer the brand represented by the Coca-Cola image rather than the product itself. Place involves the location and availability of a product or service and the method by which it is distributed to consumers. If a product or service is not accessible to potential customers, then no matter how well it has been priced and promoted, it will not be successful. There are two main factors, which need to be considered when deciding the place of distribution: * Location * Chain of distribution Without one of these factors place will not function properly, for example chain of distribution; this is how an organisation brings its products and services to the market. ...read more.

Middle

This would be better for Milo because it would be much easier to use like Ribena or Robinsons. This would benefit its accessibility and make Milo more eligible for sale, in more places, e.g. gym, leisure centres, etc. Therefore changing Milo's case into a more accessible (ready-move) easy to use case would benefit Milo immensely. In addition to this after I change the current case of Milo, I'm going to introduce different sizes of it. This is because my Competitive Audit has identified this as a disadvantage to Milo; Lucozade - buy in different sizes, Nesquick - buy in different sizes. Currently Milo is produced in quantities at 400g only. Rivals such as Nesquick, produce their product in many different sizes; e.g. 80OZ, 15OZ, 30OZ, 56OZ, etc. Introducing different sizes will not only benefit Milo against competitors but it will also benefit Milo commercially to consumers. All different types of consumers will be reached and their needs too. For example a customer may only need 200g of Milo, which, should be about half price compared to the original price for 400g. If Milo produced 200g of Milo the customer would be saving money; hence adding value to the product (Milo). The Distribution of Milo Milo is very successful product, despite it poor promotional campaign, especially in countries like Nigeria, Congo, Asia, Kenya, etc. However, its success has not reached the UK because of its accessibility; as stated in my Competitive Audit, "Readily available in Asia but not in the UK and not readily available in shops". This is a massive disadvantage for Milo because it prohibits Milo from achieving their main objective; to make profit. Also other competitor's awareness (e.g. Lucozade, Nesquick, Ovaltine, etc) and availability in the UK is larger than Milo's. My Competitive Audit identifies this as a disadvantage; "Milo currently no promotion in the UK". I think that Milo as an energy drink could eliminate these disadvantages if Milo (as a product) was sold in sport venues (competitions) and leisure centre. ...read more.

Conclusion

The only disadvantage with sponsorship is that it is expensive to use. It is vital that I achieve a successful promotion campaign in my first try. This is because (relating to my Competitive Audit and my SWOT analysis) very few people have heard of my product (Milo) therefore, I will need to promote the product to the correct people in the right areas. Failing to do so will result in loss in expenses for promotion. I'm going to promote Milo in sporty competitions and areas such as leisure centres. This is because the market segments I'm aiming at will be situated around these areas. This would be a big advantage because Milo as an energy drink will be promoted in sport venues, banners, billboards, football grounds, cricket grounds and leisure centres; thus increasing product awareness. This would also be an advantage to Milo because as stated in my SWOT analysis "Sponsorship through sporting events" shows that Milo has an opportunity to expand. I would (again) like to promote the product Milo in the UK because it is stated in my SWOT analysis that "Promotion hasn't been done in the UK" and as a result of this competitors should have a competitive edge over Milo. Also stated in my Competitive Audit "Currently no promotion in the UK" suggests that product awareness is minimal. The only promotion available to the UK on Milo is websites; "Websites promotion is available to the UK" as stated in my Competitive Audit. This may not help the sale of Milo as it does not state in my Competitive Audit. This may not help the sales of Milo as it does not state where people may be able to purchase the product. An opportunity that may save money for Milo is by using advertising methods from Australia as Milo have "Good sponsorship and adverts in Australia" as stated in the Competitive Audit. A disadvantage of this is that the UK population may prefer a different kind of promotion to those of Australia hence; if promotion is not done correctly competitors will gain a competitive edge over Milo. ...read more.

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