Marketing Plan: Women on the GO

Paper Type:  Essay
Pages:  4
Wordcount:  844 Words
Date:  2022-12-07

Introduction

The products offered by the company are mostly hair and beauty machine products. The products include equipment used in salons. The company usually offers these products with some warranties and installation features. The company has many of these products given with free warranties and installations and that is why it has its beauty shops everywhere. The products and services that the company offers are usually well rated and the company makes sure that the products reach the customers well and that the customers are satisfied. The logo of the company represents the beauty that says much of the quality that is put into the products. The brand has to make sure that the name is synonymous with the quality that is offered and that means that the company makes sure quality is assured. The products are usually tailored to the specific needs of the customers and there is usually customization. The company has a competitive advantage because it offers a full line of products and services something that the competitors are usually not doing. The company makes sure that it offers all products and services in one line meaning that all will be done by the company and no third party hence quality is assured.

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The company operates both retail and wholesale lines. This means that customers can buy the product either in wholesale or retail. What happens in the distribution channel is that the company makes sure that its branches distribute the products and services both in retail and wholesale. The issue is that the company has to make sure that the installations are done well and that the products work well and satisfy the customer. The company distributes the equipment to its official distributors who in turn supply the huge wholesale chains and then the retailers get the equipment where the customers can go and get the equipment. The company has a physical location where they assemble the equipment before they can distribute them to the wholesalers. This is great because the wholesalers get the products directly from the company and also the people who install the equipment are trained by the company. This gives the company a competitive edge as the wholesalers get their products direct from the company hence the trust that it gets makes them competitive. Most of the distributors are registered and the company will communicate with them in case there is special equipment that might need correction or so.

Good pricing strategy is usually good because it helps in the determination of the pricing point whereby the business can maximize profits. The company usually makes sure it uses pricing for marketing penetration, especially for new products. If there is a new product the company will start with a lower price to make sure it penetrates the market well before gradually increasing the price as people get used to the product. When setting up a price for a product it sends the correct price-quality signal. The company uses a pricing strategy that involves looking at three points: cost and profit objectives, consumer demand and competition. This means that what the company does is that it looks at the profit that it wants before setting up the price. The company will also look at the demand at that time and adjust the pricing. Lastly, what is considered is competition from other players. The company mostly uses theory based pricing and psychological pricing. In theory based pricing the company looks at cost-based pricing as well as competition based pricing. This has helped the company very much because it makes it have an edge over the others in the market. Most of the prices are set to rival the competitors in the field and thus making it have an edge over others.

Conclusion

The last bit about this company is that it uses various strategies in promoting its products. The company uses both the new methods and the traditional methods to reach out to its customers. The company has invested so much in terms of social media marketing as it looks out to reach its customers in the media. The company has active accounts on Twitter, Facebook, and Instagram. Through the use of social media, the company is able to interact with customers online as they introduce new products. This makes them reach out to many people. Other than these social media, the company also invests in advertising using traditional media like the radio, television, and billboards to make sure that more customers are reached. Every now and then the company carries out sales promotions and publicity to market their products. The company also uses salespeople to market the products and make sure they reach many consumers. The combination of all these strategies makes the company well marketed. With all these marketing channels the company has a competitive advantage as it makes sure that it reaches out to more people. This gives them that edge in terms of getting customers. The company has invested so much in advertising using both the traditional and new methods. This gives them an edge.

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Marketing Plan: Women on the GO. (2022, Dec 07). Retrieved from https://proessays.net/essays/marketing-plan-women-on-the-go

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