Question:
Disucss about the Marketing Mix and Marketing Strategy for “Breville Double Boiler Coffee Machine”.
The purpose of producing the paper is to develop a marketing strategy report which can significantly highlight the targeting, positioning and the marketing mix for the “Breville Double Boiler Coffee Machine”. It is the key product which can attain huge market share and customer base by the means of effective marketing mix and brand positioning. The data has been gathered from various secondary resources which has a vital role in framing the marketing mix and marketing strategies, there were also analyzed certain issues in gathering the data such as confidentiality and privacy issues that restricted the easy access to relevant data (Gammoh, Koh and Okoroafo, 2011).In the present scenario, there is a much need of the “Breville Double Boiler Coffee Machine” in both the household as well as in the restaurants and offices. And thus to meet the needs of the consumers, there is an extensive need for developing the marketing mix and marketing strategy for the product.
Theone segment that is targeted to implement a marketing strategy is the psychographic segmentation. The psychographic segmentation is one the basis of the lifestyle of the individuals. The value, interest and attitude of the individuals help the marketers to classify the products and services into small groups. The psychographic segmentation is selected as the targeted segment because there are factors such as the demand for the “Breville Double Boiler Coffee Machine” is depended upon the attitude and lifestyle of the people as they want to save their time as well as because of the various new and pioneering trends there is demand for the “Breville Double Boiler Coffee Machine”. Because of the changing lifestyles of the people there is less time with the individuals to manage the modern lifestyle they have a need of the “Breville Double Boiler Coffee Machine” in managing their daily lives and routine (Solomon, 2014). It is considered as one of the best opportunity for sales because of the reason that with the changing lifestyles and shortage of time, the individuals have a need to purchase the “Breville Double Boiler Coffee Machine” for having faster serving of coffee. The recommended marketing mix strategy for targeting this segment is by the means of social and digital marketing so that more and increased number of customer bases can be targeted (Wedel and Kamakura, 2012).
To position the brand of “Breville Double Boiler Coffee Machine” in the market there is a need of brand positioning strategy which will be helpful in offering the brand a point of difference by the means of providing USP i.e. unique selling proposition. The brand positioning strategy which will be used by the brand will be differentiation and value positioning. The product has several innovative and pioneering technologies which offer the brand with benefits and advantages of differentiation and helps in effective positioning of the brand in the consumer market (Hassan and Craft, 2012).With the differentiation strategy, there is also value positioning by which the brand offers high value to its customers in comparison with the competitors’ products. The “Breville Double Boiler Coffee Machine” offers value-priced and high quality products to the consumers for having a brand positioning in the market (Aaker, and Joachimsthaler, 2012).In the positioning map, Yellow shows “Breville Double Boiler Coffee Machine”, Black is for Brewtus Espresso, Green is for premix team and coffee machine and blue is for La Cimbali Espresso Coffee Mchine.
As per the positioning map, it has been analyzed that “Breville Double Boiler Coffee Machine” stands at a very good position which shows that the quality is vet high and good position that explains that the prices are reasonable but the quality is very effective.
PLC and the diffusion of innovation
In the Product life cycle, the product “Breville Double Boiler Coffee Machine” is at the growth stage as it has already established its presence in various regions and as per the growth stage, the consumers the brand will target will be the households, the organisations, small offices and also the various cafes and restaurants so that it can also attain more customer base and market share (Kapferer, 2012).
Types of consumer products
The product comes under the category of unsought products as these are the products that the consumers do not have knowledge about or gain knowledge but does not usually consider buying. Such products are purchased when there are specific needs and when the consumers have appropriate knowledge about these products. Therefore, “Breville Double Boiler Coffee Machine” is an unsought consumer product (Akaka and Alden, 2010).
Product
As the product is already have touched the growth stage in the PLC, thus, there is a need to have more innovations in the product design to effectively implement and communicate the brand positioning. The product offer will possess more pioneering and innovative technologies with less energy consumption. The unique selling proposition of the product will be its innovative technology but at comparatively low prices (Jain, 2013).
Place
The key place targeted by the product is Australia as there is an essential need for such machines in the offices as well as in the households and the restaurants. The channels require for effective distribution of the products can be both online selling as well as by the means of having promotions by the means of campaigns so that there can be increase distribution and sales of the products by firstly informing people about the product (Hollensen, 2015).
Promotion
There will be an integrated marketing communication campaign that will help in promoting and advertising the brand in a more unified, consistent and clear manner. The message for the target customers in the campaign will be to have instant coffee in one go with unique flavors and taste (Armstrong, et al., 2015).
To promote the product there will take use of three efficient promotional tools that comprises of:
The reason behind choosing these particular promotional tools is that all these tools have an extended and strong coverage which can help the product to have rapid and effective marketing. All the three tools are highly diverse thus they will be able to target various markets and can capture diverse set of customers from various regions. These tools also assist in brand positioning as these tools helps in gaining strong market share which ultimately results in high market visibility and positioning of the brand (Varadarajan, 2010).
Price
For marketing the product there will be used penetration pricing as the brand positions itself through differentiation and value position by offering the product at comparatively low prices than the competitors. Thus to establish and position the brand the products are available at such prices which are affordable by the consumers (Kotler, 2012).
Summary Table of Marketing Mix
|
Mix |
Current – what the Brand is doing now |
Recommendation |
Explain how your Recommendation will more-effectively support and communicate your Brand Positioning. |
|
Product |
Selling “Breville Double Boiler Coffee Machine” with similar technologies as of competitors |
To increase technology and have innovations in the product |
By taking use of innovative technologies and up gradations, there can be fetched attention of the new customers bases |
|
Place |
Some regions of Australia |
To cover entire Australia as well as some neighboring regions |
This will result in more sales and increased customer base with high visibility |
|
Promotion |
Using online platform and physical store and posters |
To take use of TV commercials, billboards and sales promotions |
These channels will give an extended coverage to the products which will result in fetching attention of the potential customers |
|
Price |
Selling at nominal prices |
To offer product at little low prices in comparison with the competitors |
This will help in fascinating increased customer base as more consumers will be able to purchase the product |
Conclusion
From the report, it can be concluded that by having an effective and adequate implementation of the marketing mix there will be brand positioning to the set target market. It has been analyzed that the marketing mix is internally consistent as all the 4Ps are in consistence with the positioning of the product. The recommended marketing mix in context with rice will help the product to have higher market share throw low pricing. In terms of place and products, there will be increased sales in the other regions of Australia and with innovative technologies more number of consumers can be targeted. In terms of promotion, the billboards, TV commercial and sales promotion will help the product in achieving a more competitive advantage.
The recommendations offered can be stated as both socially responsible as well as ethical as all the marketing mix recommendations are beneficial for the societies as comparatively the products are available at low prices. In respect with the aspect of corporate social responsibility, the marketing mix recommendations must be implement in a way that it helps the society such as by offering free samples at some NGOs and by participating in social campaigns. There should also implement a corporate compliance programs so that all the activities are socially and ethically rights. To evaluate the overall performance of the marketing mix, there must be used triple bottom line reporting according to which there will be analysis of the performance on the basis of three major levels i.e. financial, environmental and social. If at all the levels, the product met the criteria, then are considered as ethically working (Hall, 2011).
References
Aaker, D.A. and Joachimsthaler, E., 2012. Brand leadership.Simon and Schuster.
Akaka, M.A. and Alden, D.L., 2010. Global brand positioning and perceptions: International advertising and global consumer culture. International Journal of Advertising, 29(1), pp.37-56.
Armstrong, G., Kotler, P., Harker, M. and Brennan, R., 2015. Marketing: an introduction. Pearson Education.
Gammoh, B.S., Koh, A.C. and Okoroafo, S.C., 2011. Consumer culture brand positioning strategies: an experimental investigation. Journal of Product & Brand Management, 20(1), pp.48-57.
Hall, T.J., 2011. The triple bottom line: what is it and how does it work?. Indiana business review, 86(1), p.4.
Hassan, S.S. and Craft, S., 2012.Examining world market segmentation and brand positioning strategies. Journal of Consumer marketing, 29(5), pp.344-356.
Hassan, S.S. and Craft, S., 2012.Examining world market segmentation and brand positioning strategies. Journal of Consumer marketing, 29(5), pp.344-356.
Hollensen, S., 2015. Marketing management: A relationship approach. Pearson Education.
Jain, M.K., 2013. An analysis of marketing mix: 7Ps or more. Asian Journal of Multidisciplinary Studies, 1(4).
Kapferer, J.N., 2012. The new strategic brand management: Advanced insights and strategic thinking. Kogan page publishers.
Khan, M.T., 2014.The concept of’marketingmix’and its elements (a conceptual review paper). International journal of information, business and management, 6(2), p.95.
Kotler, P., 2012. Kotler on marketing.Simon and Schuster.
Solomon, M.R., 2014. Consumer behavior: Buying, having, and being (Vol. 10). Upper Saddle River, NJ: Prentice Hall.
Varadarajan, R., 2010. Strategic marketing and marketing strategy: domain, definition, fundamental issues and foundational premises. Journal of the Academy of Marketing Science, 38(2), pp.119-140.
Wedel, M. and Kamakura, W.A., 2012. Market segmentation: Conceptual and methodological foundations (Vol. 8). Springer Science & Business Media.
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