Electronic Marketplaces, Essay Example

Branding strategy is an effective marketing strategy that ensures that the product appeals to consumers. Branding strategy is effective when introducing new to the market. Branding strategy influences the decisions of the customer to purchase a specific product that has been introduced into the market. Firms rely on their products being identified and purchased by clients by way of these brandings. The branding strategy, also, symbolizes a strategic change among the company. To diversify the product mix, a firm has no reputation in that new market. It may be the case that a new logo is necessary to make consumers aware of a company’s new offerings. Therefore, the branding creates awareness to the consumers that the company is offering the product in the market, which can be new or may be the company, has rebranded its existing product (Kottler & Keller, 2009).

The branding that I come across recently was that of Heineken beer. From the analysis of Heineken brand elements, it indicates that the beer has the best branding strategy in the market. Presently, many customers have memorized the brand name of the beer, packaging, and the logo. Many customers recognize Heineken as one of the best tasting beers worldwide. In addition, it gives customers a powerful community sense while enjoying and taking Heineken, which other brands have not created in their brands. However, Heineken great brand awareness, as customers only think of a Heineken when celebrating in various occasions, like when watching football or having birthday parties. The branding strategy has made it possible for Heineken to be recognized by consumers around the world as the best beer and an energy drink. The branding strategy creates awareness creation, persuasion of competitor’s customers and survival of the brand in the long run (Huges & Fill, 2007).

Distribution plays a primary role in making sure that the products reach consumers and suppliers at the right time in the distribution chain.  A push marketing strategy is an example of an effective distribution strategy in the market. A push marketing strategy integrates the resources of retailers, wholesalers and manufacturers to create consumer demand for a product or product. In a push strategy, every stage of the supply chain “pushes” the specific good forward to the next level in the supply chain the manufacturer promotes the product to the wholesalers; wholesalers to the retailers; and finally retailers to the customer. A push strategy’s multi-firm focus on the product is helpful when a brand requires aggressive marketing to compete against another brand with a large marketing budget behind it. A push can also be efficient when the customer is unfamiliar with a new brand and brand awareness should be created quickly. The PepsiCo in its distribution to ensure that the products reach the consumer at the right time applies an example of the push strategy. The strategy has been seen as effective in the company because of the intense competition from its main rival company-Coca-Cola. This implies that they should undertake an aggressive strategy to counter the competition (Kottler & Keller, 2009).

Promotion is a fundamental part of the marketing mix because it permits persons to be aware of products and services the firm offers. Promotion regularly sends messages regarding other parts of the marketing mix are; the product, pricing, and distribution. The promotional mix has been used for several years to explain the promotional activities, which are carried out by companies. Promotion is treated as one of the 4P’s on the marketing mix. Each promotional element has a different communication ability, is effective at diverse stages in the buying process, and there is a different degree of control over each one (Huges & Fill, 2007).

The decision for selecting a promotion mix will rely on many factors, like the complexity of the product, target audience, objectives, as well as financial constraint. Colgate sells millions of its products to millions of customers across the world because of its effective promotion strategy. A good example of Colgate’s sales promotion strategy was the launch of Colgate fresh energy ice blue gel (Colgate India). The company discounted the product by lowering the overall price of each pack of Colgate. The price discounts offered by the company were communicated via magazines, newspapers, POP advertising, television ads, sales people, and window displays. The promotion was successful in gaining the attention of the customers, especially at the point of purchase amongst the same brands and it encouraged impulse buying among the clients.

Service marketing is a kind of marketing, which focuses primarily on marketing a particular service. Service marketing concentrates on delivering experiences, services, processes, and intangibles to clients other than physical transactions and goods. The marketing strategy is much easier and comprehensible as compared to that of services. Firms that offer both services and goods should apply the use of both marketing strategies. Thus, service marketing entails the distinctive service traits and the way they affect marketing approaches, as well as the behavior of the customer (Gilmore, 2003). Services are inseparable in that it is inseparable from the individual who is offering the services. The person is one of the important parts of the particular service. The service can also be performed in from of other clients. Furthermore, individual perception of the individual providing the service influences the perception of the client providing the service. For instance, I went to repair my computer and the person who repaired my computer cannot be separated from the service he provided to me. I never took away his expertise because it is inseparable. I went back home with my computer, but the person remained with the expertise.

B2B marketing is a transaction that takes place between two firms rather than a transaction involving a customer. Competition is stiff in the B2B market, generally giving way to more haggling regarding prices. Marketing for a B2B customer is tailored to differentiate itself from the competition through marketing the value proposition to its target marketplace as one, which will save the “buyer” firm a great deal of time and finances by automating their supply chain (Grieger, 2003). This is undertaken through the traditional offline techniques of promotion, field sales, and trade show along with websites, which offer customer only access to their accounts and inventory. Furthermore, email marketing and other communications utilizing supply chain channels are efficient. B2B sites usually are more informational, and there is less branding. For instance, my family has a clothing business that sells clothes for children. My family friend usually purchases from our store, and then they sell the same clothes to its customers.

References

Gilmore, A. (2003). Services Marketing and Management. Thousand Oaks, CA: SAGE.

Grieger, M. (2003). Electronic marketplaces: a literature review and a call for supply chain management research. European Journal of Operational Research, Vol. 144, p. 280.

Huges, G., & Fill, C. (2007). Redefining the nature and format of the marketing communication mix. The Marketing Review, Vol. 7, No. 1, pp.45-57

Kottler, P., & Keller, K. L. (2009). Marketing Management, 13th ed. Upper Saddle River, New Jersey: Prentice Hall.