Principles of Marketing Assignment

Principles of Marketing  Assignment Words: 1791

Applying a marketing mix analysis of the product with alternative marking models and strategies. The Maritime food company opened in 1902 based in Burton on Trend where its production still resides today. It is made from brewer’s yeast and famed for its strong savory taste along with its nitrous value, offering important B victims. It is available in egg, egg and jaguars as well as egg and egg squeeze bottles. In 2010 maritime launched an extra strong variation, Maritime XX. The brand has also expanded into snacks with breadbasket, rice cakes, flatbeds and cheese all being available to the I-J market (Milliner 2014).

The spread can be found in all major supermarkets along with selected smaller chains and independent retailers. The market for savory spread is dominated by own-label brands with a combined share of 76% of the total market. Maritime is still the leading contributor to the market with 2013 sales recorded Effie million however this is at a decline of almost 5%. The increasing share of Traitor has seen a record sales rise of 4% be take their share to EYE million. They are followed by smaller market contributors Yarded and Discovery who have both generated around EH Million (Minute 2014).

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Maritime are looking to increase sales through other revenue streams with the brand eager to promote the products versatility for use as a savory dip for crisps or carrot sticks along with increasingly popular bread alternatives such as bagels and pita breads. Further the company halted its promotional deals in 2013 likely contributing to the decline (Minute 2014) Consumer behavior is the “study of consumers and the processes they use to choose, use (consume), and dispose of products and services” (Tim Fisher 2014). Understanding consumer behavior allows a business to gain insight into the needs and wants of their customers.

This knowledge then informs marketing decision- making to ensure that these needs and wants are being satisfied (Hawkins and Motherboards, 2007). 2. 1 Motivation and Involvement Moscow (1954) outlines a hierarchy of needs to classify the motivation behind consumers wants and needs in order of importance…. (Reference) Figure 1: Mascots hierarchy of needs The decision making model outlined by Engle, Blackwell and Marinara (1990) allows for a framework to for further analysis of a consumers motivation through 5 stages.

These are problem recognition, information search, information evaluation, decision ND post-purchase evaluation. See Figure 2 Figure 2: Engel, Blackwell and Marinara, Decision making process With the models application to Maritime, due to the product being of a fast moving nature and a Low involvement purchase, “low-risk and low -involvement decision that are made quickly’ (Brainstorming & Appetite 2012). These factors suggest that the purchase will be carried out without the completion of the model as once the problem recognition stage is reached all others steps are of little significance to the customer.

The purchase is more likely to be affected by influences. The use of Backbone sampling ads feature to encourage users of the social network to become involved in the launch by inputting details to receive a free sample. Upon receipt uses are prompted to Join the Backbone page and leave feedback around the love it or hate it campaign (New Media Age 2010). 2. 2 How Maritime attempts to attract and retain Customers The application of routine problem solving refers to a regular purchase that a consumer is likely to make multiple times.

Through this Maritime are able to build a constant customer base who regularly purchase. The companies’ use of yellow babbling teamed with the glass Jar to expose the black product within offers the biggest color contrast that can be achieved (Sills Amos 2011). Therefore the product packing in its design is able to draw the customer in and stand out of shelves. The brands most recent advertising campaign End neglect saw it receive vast attentions from both the public and the press. The campaign saw over 500 complaints raised to the AS but also resulted in the receipt of 157 pieces of press coverage.

The coverage received also resulted in 14% of the UK population discussing maritime during the camping with friends and relatives (Yoga Brand index 2013). The Ad Awareness scores also show a 20% increase in awareness of the campaign from 3% to 23%, see figure 3. With sales increases of 14% through the first 8 weeks of running. (Nelson 2013). In relation to the complaints received Maritime donated EYE,OHO to the RASPS. Nathan Bacon 2014) Figure 3: Awareness 2. 3 Appealing to values and attitudes An attitude is a stance that an individual takes in a subject predisposes them to react in a certain way to the subject. Hillary et all 975). In terms of marketing relevance it is important to understand how attitudes can affect a buyer’s behavior. The customer’s presentation of cognitive attitudes to maritime as it is seen has healthy. Although it may not be seen to represent value for money as it has no direct competition on the market place so value may not come into question. The campaigns can be seen to draw directly to the consumers affective attitudes, these can be seen as those of a positive and negative nature involving some emotional behavior.

Maritime is particularly relevant in this area when talking about its love it or hate it campaigns in the past. The company attracted over 350,000 consumers within four weeks of the launch of its “Love Hate” electoral campaign. This shows an effective strategy captivating emotion of the consumer to vote on its stance opening up the exposure not only to the existing customer but also those that can be seen to not enjoy its strong flavors. In terms of values the company released two millions jars in association with reading for life and Orion featuring Horrid Henry and perfect Peter.

The Jars featured horrid and perfect labels reflecting the campaign love it or hate it and contained a code for a download of a free audio book through audible. Co. UK. Five were available (Bookseller Media 2009). “Successful marketing depends upon addressing a number of key issues. These include: what a company is going to produce; how much it is going to charge; how it is going to deliver its products or services to the customer; and how it is going to tell the customer about its products and services” (Chartered Institute of Marketing, 2009).

These four elements of Powder’s marketing mix (product, price, place and promotion) can be adjusted to ensure a combination is found that will service the customers’ needs and also generate optimum income. The product may be defined as a physical good, service, idea, person, or place that is capable of offering tangible and intangible attributes that individuals or organizations regard as so necessary, worthwhile or satisfying that they are prepared to exchange money, patronage or some other unit of value to acquire it (Barley, R 2001).

The purchase of maritime is high physical service on the product spectrum. With the use of the anatomy of a product The branding may be seen across the range offering constancy to the products this allows the consumer to easily distinguish the brand and may also relate to the decision making process as the branding creates a level of security to the consumer making the transaction. Figure 4: Product life cycle 3. 2 Price Strategy From the buyer’s perspective, price represents the value they attach to whatever is being exchanged.

Up to the point of purchase, the marketer has been making promises to the potential buyer about what this product is and what this product is and what it can do for the customer. The customer is going to weigh up those promises against the price and decide whether it is worth paying. ” (Estimate, 1988). Maritime currently operate at prestige pricing, the price is set high to enforce the idea of a quality product. It is typically used to create the association of quality to cost (Brian Monger 2012). Typically this is not used with fast moving consumer items and had recently been brought in.

With the price off egg glass Jar rising 50% from September 2013 to February 2014 (Sarah Whitetails 2014). 3. Place Strategy Place may defined through the marketing channels that is a link of a group of individuals or organization through witch a product of service is made available to the consumer or industrial uses. Figure 5: Channel Structure The nature of the channels means products are placed by the retailer. The shops stocking Maritime will all use a grid layout that is rigid but offers the largest amount f storage space for products (Brainstorming & Appetite 2012).

This can lead to manufacturer having little or no control over final placement and may affect sales if not placed at a suitable level to encourage purchase. 3. 4 Promotional Strategy Selection of the most effective promotional tools to create an effecting promotional mix is essential in order to engage consumers, build customer relationships and communicate brand values. Promotional tools available include advertising, sales promotion, personal selling, public relations and direct and digital marketing. (Kettle, Marketing: An Introduction, Global Edition up. 6- Promotion refers to the entire set of activates, which communicate the product, brand or service to the user. The intention is to make people aware, attract and introduce to buy the product in preference to others (Economic Times 2014). Promotional strategies include PR, Sales promotion, Advertising, Personal Selling and Direct Marketing. The target market for emirates promotional strategies can be defined as consumer. This is due to its mass markets and love involvement. Emirates promotional mix is centered around both PR and Advertising.

The company invest heavily in paid advertising through media and ring sources but also through the extensive use of social media platforms the most recently being in the “End Maritime Neglect” campaign (Impenitent). The campaign helped to secure the “Brand of the year” (Marketing Week 2014). Previous campaigns have also been received well with the company achieving the PIP silver award for advertising effectiveness in 2002 (PIP 2002) and the Bronze in 2008 (PIP 2008) The campaign did however receive some scrutiny from BAN leader Nick Griffin. Claims were made that the campaigns spoof love hate had been based around the identity of the BAN.

Milliner were able to quash the claims with the threat of legal action however this changed the outlook of the camping to some viewers from a fun twist to a controversial one (Hammer Media 2010). 1. Emirates use of social media is affective and has enabled them to gather a substantial following however the social media platforms can be limited. The addition off brand website separate to the page available through Milliner would allow for current customers to seek out additional information regarding products, offers and any other events ran in conjunction with the brand.

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