Referring to the chapters of the text, and with the use of secondary research, please provide informed answers to the following questions: Are there any new products Are there any new products worth adding? What are the pricing objectivespolicies, strategies and procedures?
The Expanded Marketing Mix: The Expanded Marketing Mix According to McDonald and Dunbarthe marketing mix is the term used to describe the tools and techniques an organization uses to implement the marketing concept. In service marketing, McCollum-Kennedy and Kiel identify three extended elements for marketers.
In addition to the traditional 4 AS, McCollum-Kennedy and Kiel stress the core role of people in a service industry, including both employees and customers or potential customers. Additionally, the service process and physical evidence take on additional importance in service industries.
All 7 attributes are described below. Defining the 7 As Kettle defines the product as a combination of goods and services Kettle et al, Given the service focus of their work, McCollum-Kennedy, and Kiel define a product more generally. They term a product merely as a bundle of attributes—some tangible, some Intangible-?
Is simply the amount of money buyers pay to gain the benefit of the product. The goal of promotion is to create demand and persuade targeted customers to purchase the product Kettle et al, Marketers often refer to the fourth P, place, as placement, logistics or distribution.
Marketers must create a place or a way for logistics and physical delivery to get a product to market and into the hands of target consumers McCollum-Kennedy and Kiel, The distribution step incorporates various distribution channels, intermediaries, importers and exporters, as well as the locations of stores, store hours and more McCarthy, Primarily used in consumer marketing, these additional mix attributes stress the importance of service alongside the products purchased by nonusers for personal consumption.
The first expanded attribute is people. The sixth P in the expanded mix is process. The processes consist of standard operating procedures, mechanisms and relationship flows used by the organization to perform a service or manufacturing activity McCollum-Kennedy and Kiel, From a consumer standpoint, this process refers to actual documentation from invoices to terms of sale involved in the purchase, the various stages of negotiation and the order flow through the seller organization.
Barnes et al define process as the simplicity or complexity of making product delivery happen. The last P is physical evidence, or environment. McCollum-Kennedy and Kiel define this final attribute as the environment in which a service is delivered in which the seller and buyer interact before, during and after the sale.
For example, resources, reports, letterhead, business cards, facilities, and even colors used in the decor of the service area factor into the environment in which an organization carries out a service activity McCollum-Kennedy and Kiel, Applying the 7 AS: KEA application of the 7 As in the expanded marketing mix.
Based in the Netherlands, KEA has a presence in through its franchisees. In an attempt to capture an entire room worth of furniture, KEA leverages seamless integration and ergonomics of their line of furniture. KEA work chairs have easy height adjustments and castors.Assessment item 3 The expanded marketing mix (IKEA COMPANY) Task The final stage of the marketing audit is for you to evaluate how well the marketing mix of the organisation is performing for your chosen organisation.
IKEA, a furniture retailer and franchisor, provides an excellent case study in the application of the 7 Ps in the expanded marketing mix.
The company’s core product is furniture retailing, including decorations for the home and home office under its “Work IKEA” concept (timberdesignmag.com, ).
Ikea Marketing Mix 4 Ps. The Expanded Marketing Mix: IKEA Introduction At any successful company, marketing seeks to connect with customers, serve their needs, and accomplish the stated mission of .
The Expanded Marketing Mix According to McDonald and Dunbar (), the marketing mix is the term used to describe the tools and techniques an organization uses to implement the marketing concept.
Kettle et al () recognize "4 AS" that encompass an organization's entire competitive marketing strategy: product, price, promotion, and place. Generate more traffic. Reading a blog isn't the only way to get more traffic. Just put in your URL below. The Expanded Marketing Mix: IKEA - highlights the 4Ps and expanded 7Ps marketing mix Words | 7 Pages The Expanded Marketing Mix: IKEA Introduction At any successful company, marketing seeks to connect with customers, serve their needs, and accomplish the stated mission of the organization.