Marketing Strategies

Marketing Strategies

Introduction

Today is the era of the latest technology and innovation. In this age, only those companies survive that are constantly thrive on innovative products and able to devise marketing policies and strategies that possess the capacity to attract customers and appeal to them in a powerful way. Marketing strategies are of immense importance for the growth as well as the lucrative operation of the business. This report revolves around the same phenomenon of discussing marketing strategies. In order to discuss the marketing strategies and other marketing aspects the product that has been chosen is smoothie maker. This paper describes product development, functionality, features, marketing and promotional strategies of smoothie maker in the market of United States.

Market environment analysis

In order to develop marketing strategies the first step that is necessary to take is to formulate a marketing plan. In order to devise an effective and efficient marketing plan the first step that the marketers perform is environmental analysis. The environment of an organization is comprised of two sorts of environment. Out of these two sorts of environment one is micro environment and the other one is macro-environment. The macro-environment for an organization comprises of the factors of PEST that is political, economical, social and technological factors. In these factors of macro-environment, the micro environment of the organization is embedded. The factors of macro-environment have a strong impact on the structure and the ways of operation of an organization. The capability of members of the organization possesses little influence to affect the factors of macro-environment. While devising strategies and policies, it is imperative to consider factors of micro environment and macro-environment.

Macro-environment analysis

Economic factor

Economic factor is an important factor of macro-environment. Its analysis is important for the development of the latest product. Due to the current period of recession that is going all over the globe consumers are moving towards fresh juicers and simple blenders rather than a smoothie maker because a smoothie maker is a bit expensive than ordinary blenders and different juicers. According to the statistics of Nielson research organization, between year 2007 and 2009 sales of the smoothie maker has plunged by 29 percent. The main reason behind this fall in this percentage of sales is the economic downfall. Despite this economical downfall, there are certain brands in the market of smoothie maker that maintained their sales and even show a substantial increase in sales with the aid of their effective and efficient marketing and promotional strategies (US Market Monitor Co Ltd, 2010).

Technological Factor

In today's era of technology consumers are willing to try new and innovative products. In recent years, many brands and organization have tried their hands on devising a product with the aid of the latest technology.

Social Factor

Nowadays, there are a lot of changes that are taking place in the attitude of the consumers. People are now becoming more health and fitness conscious. They like to take care of their diet and fitness and what they eat and drink. This social change can affect the market of ...