Place in the Marketing Mix, Research Paper Example

All consumers are impacted by the marketing mix, which is a business mechanism made up of four different elements: product, or the commodity/service that meets the desires and needs of the consumer; the price, which is how much a product costs that is determined for the company to yield a profit yet the consumer deems acceptable; promotion, or the way that a product is promoted or advertised in an effective manner; and place, which refers to how a product is distributed, where it is distributed, and the timing of distributing an item.  Electronic Thermo Cover needs to be placed in all major coffee and tea shops across the country in ample quantities. Distributing the product in a way that makes it convenient for consumers in locales that are most applicable is of paramount importance within this element of the marketing mix. Consumers want to go to coffee and tea shops, especially in the morning before work, and be able to have access to cup sleeves without having any issues. The lack of availability of a product at a coffee shop means that the consumer will take their business elsewhere, which is why it is so crucial to place the product at the right time in the most strategic place. As a result, whether customers want hot or cold drinks, selling ETC at coffee and tea shops is quite practical.

In addition to local beverage shops, ETC should be sold in all appliance stores and in stores such as Target and Walmart that consumers frequently go to in order to buy household items. Because ETC works for both keeping drinks hot and cold, and it is able to fit drinks that vary in shapes and sizes, the product has a wide appeal to all consumers and is quite affordable. Its longevity and unique features is appealing to customers, so featuring this product in stores that the majority to consumers visit in order to purchase affordable products and appliances would be the most cogent approach to placement of this product. In addition, coffee shops and popular appliance stores such as Starbucks and other popular companies have been increasingly environmentally aware. This cognizance of the environment has fomented competition amongst various companies to find ways to prove to consumers that business practices continue to evolve in order to meet certain tacit demands within modern contingencies. Selling ETC in shops and businesses rather than distributing one-time use coffee sleeves is another way to show consumers that the environment is a concern that needs to be taken seriously in current contexts. Selling ETC at gas stations will also meet with success due to the fact that its visibility would be greatly increased in addition to travelers finding great utility in owning them while on the road.

The placement strategy of ETC will facilitate assessment strategies regarding what channel is the most fitting or suited for such a novel yet pragmatic product to be successful. Moreover, the placement strategy also takes into consideration how consumers can access the product, which must compliment the entire product strategy as a whole. The ambiance and environment in which ETC is sold must target a broad audience that would find owning a reusable coffee sleeve worth it, especially since this product can keep drinks both hot and cold and it is reusable.

References

Armstrong, G., & Kotler, P. (2005). Marketing: An introduction (7th ed.). Upper Saddle River, New Jersey: Pearson Prentice-Hall.

Laing, A. & Mckee, L. (2000). Structuring the marketing function in complex professional service organizations. European Journal of Marketing, 34(5/6), 576.