Marketing mix is a tool, place is a key term in the mix since it involves the activities that avails the brand to the consumers. It involves location and logistics that the producer has to overcome in order for the brand to be avail when the consumer needs it. If the arrangement and logistics fails in delivering then the brand losses market value. Brand and location are vital component in marketing, any mistake can lead to massive decline in sales volume (Khan, 2014). For instance, Volkswagen a car brand in German has maintained its legacy in car industry due to proper channel of distribution starting from within the company to final consumer. For any brand to be successful location is a key factor and marketing mix place plays the role of managing location. Nivea is another giant company that has used the marketing mix place to identify it brand with customers making a giant company we know today.
By using the appropriate channel of distribution, a firm can raise its sales volume and sustain the sales for a much longer period. In return, this will guarantee such a company an extended market share, which may affect increased profits and total revenues (Sagepub 2017). Correct placement is viewed as a significant activity that is centered on access at the right time the targeted audience. The focus of placement is the placement of target market, where business is located, how the market and the business can be connected, where to store, and how to transport well to the required destination.
In Korea, Samsung brand has successfully applied the concept of Place in its market mix. The brand is available in the market through different channels. The brand has specialized in working with Channel Marketing concept, which has three main segments. The three channels include Sales, Modern retail, Distributors, and Service dealers. The Selling and Servicing merchants are concerned with corporate transactions and handling original records for the company. The dealers are allowed to open showroom that is exclusive to Samsung. The brand's primary modern segment for retailing includes huge retailers like Vijay Sales, Croma, Vivek's, Hypercity, and other retailers found in the current electronic retail stores. However, a company like LG was formerly known, as Lucky Goldstar has not been very successful in implementing Placement fully in the company's market mix. It is so because the company has not been aggressive when it comes to utilization of the internet to move its product. In overcoming this challenge, there is a need to adopt a vibrant team that markets the LGs product online.
Sagepub. (n.d.). Building Brands Using International Market Mix. Retrieved from uk.sagepub.com: https://uk.sagepub.com/sites/default/files/upm-binaries/60045_Masterson_ch11.pdf
Khan, M. T. (2014). The concept of'marketing mix'and its elements (a conceptual review paper). International journal of information, business and management, 6(2), 95.
If you are the original author of this essay and no longer wish to have it published on the customtermpaperwriting.org website, please click below to request its removal:
- Paper Example on Products or Services That Can Sell or Offer to a Global Market
- Customers Attitude Towards Electronic Word of Mouth and Its Effects on Brand Equity: Comparative Study
- Improving Communication and Making the Business Known - Paper Example
- Comparison and Contrasting of Products and Services and Their Packaging to Students Offered by Colleges
- Organisational Analysis Essay on Dropex Limited
- Company Analysis Essay on Adidas Company
- Company Analysis Essay on Foleo Group Limited: Growth Strategy