Posted at 12.15.2018
The concept of marketing mix is very important in business plus more specifically in marketing. The components of marketing mix are the primary strategic constituents of a marketing plan. In cases like this, the idea of marketing mix consists of the price, product, place, and promotion. On this basis, the aspect of place represents the country of origin of the product that is being marketed. Through this mix, the offer provided to the clients can be changed by changing the elements of the mix. An example here is where the give attention to promotion is increased while reducing the price of the product in order to increase sales. This idea of marketing mix will be addressed in this study by looking at the case of Renault research study (McDaniel and Gates 1998: 3).
In the research study in order for the Renault Company to extend its share in the German market, a strategic marketing mix would have to be decided and implemented. This mix would be from the concept that the four Ps should be well considered. In cases like this, the Renault Company must be aware that most of the Europeans are extremely ethnocentric or prefer cars that are made by particular countries (Lilien 1983: 29). This awareness would assist in deciding on how to arrange for the marketing mix. In this case, in order to raise the sales of this company in Germany, the concentrate on promotion should be increased by increasing the practices of advertising the business's products mostly in Germany. Alternatively, the product (the cars) should be of high quality ion order to attract more customers form this country and the rest of Europe. It ought to be noted that, price of products is an extremely essential factor to consider in marketing mix. In cases like this, the prices of the Renault cars have to be reduced to make them more competitive in the country. Lastly, the place is very crucial as it determine where in fact the target buyers should come from. In this case study, the place of target is Germany where the Renault company which includes its headquarters in French. In this case, the area of manufacture and the area of marketing are extremely important (Lilien 1983: 34).
In this marketing mix by increasing the product's quality, many people will be considering buying that car that will boost the share in Germany. Additionally, the prices of the brand are lowered to ensure that every consumer in Germany can afford it without straining. On the other hand, the consumers will never be able to know if the quality has improved and the price has lowered and therefore a lot of focus must be directed to the promotion. In this case, the aspect of place will determine the prospective consumers. When each one of these are done the marketing share of the Renault Company in Germany will increase (Baker & Hart 2007: 251).
Situation Analysis and identification of opportunities
In implementing this marketing mix, it might be worth focusing on to conduct a predicament analysis and identify the opportunities. This means that an intensive research will be completed to analyze the marketplace situation and identify the probable opportunities of this car. The research will be conducted basing on the collection of information both primary and secondary regarding the above four mentioned elements (McDaniel & Gates 1998: 19). The research will help in identifying the strengths and weaknesses of the Renault Company in Germany to be able to regulate how people in this country view the products of this company. The problem analysis will address the internal factors of the business in terms of the quality of the products as the external will address the concepts of competitors, consumers and the market itself. On this basis, the research conducted will indicate how Germans consider products (cars) that are produced in France in terms of ethnocentrism and quality. Additionally, you will see some opportunities that will be found fit for the business to increase its sales in Germany. These opportuniti8es are the improvement of product's quality and the mode of communicating the product's competitiveness through promotions. In this case, big money will be utilized in promoting the business's product in Germany (McDaniel & Gates 1998: 19).
Identification of MARKETING AND SALES COMMUNICATIONS Opportunity
After undertaking research on the situational analysis and identification of the opportunities, the next stage of implementation involves identification of marketing communication opportunity. The selection of the communication agency will determine the level of promotion of the merchandise. In this case, the majority of the targeted customers should maintain a posture to get the information as it is required. It should be noted that, some Germans prefer products from France while some are ethnocentric and hence both of these groups should be handled carefully. This idea involves discovering components of communications mix that should be use, have a creative execution and have processes of evaluating the campaign. Within this relation, various marketing and sales communications agencies will be invited in order to present their ideas regarding the campaign. The very best path to ingest marketing communication is to use internet sites like internet bearing in mind that the current advancement in technology allows most folks have usage of the internet. Since a lot of focus in directed to the promotion, it ought to be conducted in a manner that it will yield the best results (Koekemoer & Bird 2004: 11).
Importantly, by conducting the campaign well and reducing the prices of the product, there will be many consumers who will get information about these products and make steps of buying (Smith & Taylor 2004: 419). This might raise the sales drastically. In promotion the slogans used should be very attractive and convincing to reduce the notion of ethnocentrism of Germans concerning the French products. In this case, the slogans are indicated in such a way that they praise France and the cars produced there. An excellent slogan would be; 'the best value and most effective cars come from France'. In this case, the task of the marketing communications agencies is to come up with a strategy how this message should be conveyed to the general public in the most effective and efficient way. Additionally, this message is required to reach as many folks as you possibly can at a certain rate (Smith & Taylor 2004: 416).
There will vary marketing communications mix elements that will be used in conveying the mandatory message to the customers. These elements include; sales promotion, personnel selling, pr, and advertising among others. Along the way of marketing the facet of place is thoroughly considered as it will have a great impact on the final results (Brassington & Pettitt 2006: 544). In this case, the elements used for instance in marketing like televisions, radios, and cinemas should reach a certain target group within a particular time. This might help in ensuring an array of area is covered in advertising. All of the components of marketing will be utilized at different rates with social networking and advertising speculated to reach the largest group.
A thorough selection of the appropriate agency to be utilized in marketing will be achieved. In cases like this, the media by which the advertisement will get to a lot of the target population will be selected. In this case, the media will be heavily mixed up in promotion. In undertaking of this selection, the idea of cost will be put into consideration. The most appropriate agency will be the media where in fact the television is expected to reach the larger population of customers (Koekemoer & Bird 2004: 11).
Campaign Development and Implementation
In order to be sure that the proposed marketing mix is workable, the campaign will be developed so that it'll be effective and efficient as far as the marketing and sales communications initiatives are worried. This campaign is targeted at changing the attitudes of customers on the Renault Company's cars. The campaign will be through advertisement, sales personnel and internet that will cover a very wide area approximated to be the whole of Germany. In this case, this campaign will need a period of half a year which is estimated to cost at least $75 million (Wenderoth 2009: 16).
In implementing this campaign, the media will be heavily involved that will help in disseminating information about the brand. To be able to reach the targeted population, the Renault Company will use cinemas, internet, television and the print. First, a cinema will be launched where the brand would be the key aspect to be looked at by the folks. The viewers will be able to see different cars that are produced by the corporation as well as their prices. This will help in change a good number of men and women in the cities. Additionally, the internet will be used as a social network to attain mostly the youths and the urban elites. Internet will serve as the simplest way of exchanging views concerning the products (Haberer 2010: 16). In cases like this, internet will be utilized where people will be sending views to their friends through the e-mail. Alternatively, television will be utilized to inform folks on how the quality of the merchandise has improved while the price has reduced. It is estimated that television will be able to reach even those consumers in the rural areas. Lastly, the Renault Company will use the print like magazines, articles and newspapers as a means of campaign. This method is estimated to reach a variety of people both in rural and cities.
It should be noted that, the campaign will be more effective in case a follow-up is conducted. This can help in determining the factor that is doing best and how the customers are affected by these elements (Keegan & Green 2002: 322). In this case, through follow-ups the factor that is slow or less effective will be replaced by another one in order to increase effectiveness.
The future planning of the company will be addressed where strategies will be developed of increasing the future sales. In today's advancement in technology the internet is the most appropriate method of advertisement through internet sites like MySpace and Facebook (Brassington & Pettitt 2006: 544). On this basis, this company will intend to utilize the internet in future advertisements. Additionally, the corporation will plan on creating its website where customers can buy or find out about the cars produced online. These plans can help in increasing the sales and profits of the Renault Company.
In winding up, the concept of marketing mix is very essential in virtually any company. In cases like this, it can help in increasing the number of sales of your company when well planned. The four elements involved with marketing mix are the determinants of the successfulness of a business.