Characteristics of Products
A product is mainly referred to as an item that is offered by any particular company for selling purposes. A product of a company can be a physical object or a service that is offered by the organization. The key characteristics of products include the following as discussed further. The quality of the product is an important tool that helps in the positioning of the product in the market. The two major element related to the quality of the product are the level of quality and the consistency of the performance. The features of the product are another major characteristic that contributes towards the benefits of the products. The design of the product is another major characteristic that determines the position of the service or the product (Osborne and Shapiro 2014). The products of the Black Beans Café include Gluten free protein powder, coffee and many other products.
The promotional methods are used in a particular company to advertise or promote the products or the services of the company. The different promotional methods include, sales promotion which is an activity related to providing incentives to receive the response that is desired from the particular group of customers or the sales person of the company. Fulfilling the needs and the desires of the customers of the particular company is another method of sales promotion of the products. The different promotional methods of the company include, sales promotion, advertising, face-to-face selling, direct marketing, personal selling (Erevelle and Fukawa 2013). The promotional methods that can be used to achieve the outcomes that are desired for Black Beans Café are, digital marketing and promotion through the internet.
The distribution channels of the products of the organization refers to the route that is taken by the organizations to make the products reach the ultimate customers. The distribution channel of the organization is important for the organization the products are manufactured in a different place and the ultimate consumers of the product are available in a totally different location. The gap between the producers and the end consumers are fulfilled with the help of effective distribution channels. The distribution channel of an organization acts as a link between the organization and the consumers as well (Hanssens et al. 2014). The middle man or the brokers play an important role in the distribution channel of the organization. The main functions of the middle men include, collecting the output of the various producers, dividing the products with respect to the wants and desires of the consumers and further dispersing the products to the customers.
Promotional Methods
The distribution channels can succeed only if the middlemen are efficient and they can utilise the time and the products easily (Nour and Almahirah 2014). The distribution channel of Black Beans Coffee comprises of the different suppliers of the café and less number of middlemen in the system. This helps in the achievement of the desired profits as well. Marketing of a particular product includes the distribution process as well. The main function of the distribution process is to divide the functions of distribution of the goods of the producer to the specific markets where the ultimate customers of the products are present. The distribution channel plays an important role in the achievement of the objectives of marketing of a particular company. The manufacturer of a particular product is responsible for creating utility related to the involvement of the customers. On the other hand, the channels of distribution are responsible for creating the utilities of the product related to the time and place (Chen, Gal-Or and Roma 2014). The market and the distribution channels of the product are much more crucial for a company than the product itself.
The price of a particular product refers to the value that can purchase a particular quantity of the products or services. The price of the products or services acts as the main component in the or the basis of the transactions that are taking place. The pricing policy refers to the ways by which the prices of the particular goods or services are decided (Khan 2014). The pricing of Black Beans Coffee is the main component related to the success of the business. The way by which the prices of the products of the company determines profitability of the organizations is difficult to establish. The pricing variables of an organization includes, credit terms, residual value, sales, stage payments and cost related to ownership (Akgün, Keskin and Ayar 2014).
The target market of a particular product is the mainly a group of consumers for which the business aims the efforts related to the marketing activities and the goods that are manufactured by the company. The target market of Black Beans Coffee is considered to be the primary element of the market strategy of the company. The marketing strategy that is determined by Black Beans Coffee is based on the selected target market. The company needs to establish its brand in the minds of the consumers. Many types of activities related to marketing are available to influence the purchases made by the consumers (Maarit Jalkala and Keränen 2014). The organization needs to have a clear view of the best ways of promotions and advertising related to the target market to create a successful marketing mix for the company.
Distribution Channels
The branding of the product is another characteristic that determines the sales of the products. The packaging and labelling of the products also plays an important role in the presentation of the product in the market and the way it affects the minds of the consumers. The characteristics of services offered by a particular company is intangible and it cannot be stored as well (Lei and Moon 2015). The services of the company are mainly consumed during the time it was sold by the company. Black Beans Coffee has created a process of feedback in their website so that the customers can provide their valuable opinions and the decisions can be made based on the different feedbacks (Singh, Kalafatis and Ledden 2014). The company has also planned a different strategy to define the ways by which the adverse situations can be handled.
Marketing environment mainly refers to the external environment of a particular organization which affects the marketing objectives of the organization and thereby the organization needs to develop effective strategies so that the business can adapt to the external environment. The two types of marketing environment are mainly the internal environment and the external environment of the organization. The external environment refers to the forces outside Black Beans Coffee that are uncontrollable in nature (Karray 2013). The forces of the external environment include, competition in the market of restaurants and cafes, the policies of the government, the natural forces of the environment, the cultural and social forces, the demographic factors and the technological changes.
The products of the café that have been offered to the consumers are the various coffee products and other premium products as well. The products of the café are Gluten free coffee and the Black Beans Protein powder as well.
The promotional activities of the café are related to the digital marketing activities of the café and the marketing activities related to the promoting the products with the help of the views and the feedbacks received from the consumers.
The distribution channel of the café is well organized and the suppliers of the café are more in number so that the prices of the products can be controlled by the café management and not the suppliers. The channels of distribution of the café includes the wholesalers of the café, the team of sales of the café, the dealers of café, the franchises of the café, the telesales executives, the delivery services of the café. The design of the channels is based on the process developing channels that are new. The structure of the business needs to be developed in such a way so that the highest level of profitability can be obtained. The objectives of the firm can also be achieved in this manner (Karjaluoto, Mustonen and Ulkuniemi 2015).
Pricing Structure
The pricing structure of Black Beans Cafe needs to be revised even after the pricing strategy has been decided, applied and incorporated in the market so that it can be suitable for the market. This is mainly done to gain more profit in the future. This process can also be termed as price protection and this occurs in a situation when the customer purchases a product for a particular price and then the product goes for sale (Talpau 2014).
The service of the café varies from one place to another and this leads to the increase in the profitability of the organization and the various other issues as well. The profits and sales of the company are affected by the levels of service provided to the consumers. The service that is provided to the consumers plays a major role in the development of the business activities of the café.
The 4 Ps of marketing mix of a particular company include the following,
- Product – The product of the marketing mix refers to the services or goods that are offered by the organization. The goods refer to the products that are tangible in nature and can be stored for future consumption as well. On the other hand, services refer to the products that are intangible in nature and cannot be stored for future consumption. The products of Black Beans Coffee are the different coffee related products that are offered by the café.
- Price – The price of the products of Black Beans Coffee is provided by the organization is another important factor of the marketing mix of the company. The price of the products affects the operations of the company related to sales and profitability (Adamopoulos and Todri 2015).
- Place – The place where the products are sold to the consumers is Australia which is also an important factor of the marketing mix. The availability of the services or goods of the company in a particular place determines the sales of the products and the profitability of the organization as well.
- Promotion – This is the most important part of the marketing mix of Black Beans Coffee. Promoting the products of Black Beans Coffee is important to increase the sales of the products and thereby the profitability of the company (Shamout 2016).
The ways by which Black Beans Coffee has promoted its products are the special events that are organized by the company. The café aims to maintain strong relationships with the stakeholders of the company who are the customers, the owners and the employees as well. The café also gives special offers to the consumers who are loyal to the brand and thereby they are able to retain the customers as well. The promotional methods by which the café trues to increase the profitability is by increasing the awareness of the brand among the consumers. The information related to the brand is also provided to the consumers (Lester 2013). The branding strategy of the café is decided by the managers of the café so that the consumers of the café can be retained. The marketing mix of the café needs to be altered based on the needs of the consumers so that the profitability can be increased. The activities related to marketing also needs to be monitored and altered so that the operations of the café can be controlled. The major implications of the changes that have occurred in the marketing mix of the café is on the profitability and the operations of the café (Pike and Page 2014). Consumer perception is mainly related to the theory of perception of the consumers related to the marketing and advertising of an organization. This type of perception is sensory in nature and is related to the ways the consumers perceive and the stimuli that is provided with the help of the five senses of the consumers. The perceptions are applied by the consumers at the time of the purchases made by them (Karjaluoto, Mustonen and Ulkuniemi 2015). The consumer perception theory is applied by the merchants or the organizations to test the ways by which the consumers perceive their products or services. The profitability of the organization is based on the perception of the consumers regarding the products.
Target Market
The performance of the marketing function of an organization and its success mainly depends on the effective monitoring of marketing mix of the company. The monitoring of the marketing mix and the adjustment related to the marketing mix of the company is mainly related to the available budget of the company and the objectives related to operational marketing. The monitoring process of the marketing mix of the company mainly relates to each and every component and aspect of a particular company. The ways by which the process of marketing is performing with respect to the objectives and the goals of the company helps in monitoring the marketing mix (Setia, Venkatesh and Joglekar 2013). The goals of the organization are related to the timelines that are set for the goals, the costs related to achievement of goals, the impact of the marketing strategy on the sales, monitoring the customer database, monitoring the relationships of the consumers with the company.
The altering components of the marketing mix of a company includes the following,
- The service or product manufactured by the company is the most important element of the marketing mix. The goods manufactured by the company and the presentation of the goods in the market is the most important factor to increase the profitability.
- Another important component of the marketing mix is the promotional activities of the company related to services or the products. The promotion of the company is the way by which the organization communicates with the consumers (Jerome 2013).
- Distribution of the products is also important in the marketing mix of the company.
- The prices that are selected by the company for the products plays an important role in the marketing and the sales of the product in the market (Osborne and Shapiro 2014).
The components related to the adjusting the marketing mix of the company is important in the changing scenario of market. The marketing mix that has been designed by the company needs to be evaluated and monitored on a regular basis so that the marketing mix can adapt to the changes in the environment. The adjustments that are made in the marketing mix are related to product, pricing of the products, the promotion of the products and the place where the product is marketed (Nour and Almahirah 2014). The marketing mix of the company can also be adjusted so that the company can meet its budget related to marketing mix. The marketing mix of Black Beans Coffee has to be adjusted so that the budget of the organization can be kept in control and the products can be offered according to the adjusted prices. The adjustment of the prices and the promotional activities of the company helps in increasing the profitability of the organization (Jahanshani et al. 2014).
References
Adamopoulos, P. and Todri, V., 2015, August. The effectiveness of marketing strategies in social media: Evidence from promotional events. In Proceedings of the 21th ACM SIGKDD International Conference on Knowledge Discovery and Data Mining (pp. 1641-1650). ACM.
Akgün, A.E., Keskin, H. and Ayar, H., 2014. Standardization and adaptation of international marketing mix activities: A case study. Procedia-Social and Behavioral Sciences, 150, pp.609-618.
Chen, R.R., Gal-Or, E. and Roma, P., 2014. Opaque distribution channels for competing service providers: Posted price vs. name-your-own-price mechanisms. Operations research, 62(4), pp.733-750.
Erevelles, S. and Fukawa, N., 2013. The role of affect in personal selling and sales management. Journal of Personal Selling & Sales Management, 33(1), pp.7-24.
Hanssens, D.M., Pauwels, K.H., Srinivasan, S., Vanhuele, M. and Yildirim, G., 2014. Consumer attitude metrics for guiding marketing mix decisions. Marketing Science, 33(4), pp.534-550.
Jahanshani, A.A., Hajizadeh, G.M.A., Mirdhamadi, S.A., Nawaser, K. and Khaksar, S.M.S., 2014. Study the effects of customer service and product quality on customer satisfaction and loyalty.
Jerome, N., 2013. Application of the Maslow’s hierarchy of need theory; impacts and implications on organizational culture, human resource and employee’s performance. International Journal of Business and Management Invention, 2(3), pp.39-45.
Karjaluoto, H., Mustonen, N. and Ulkuniemi, P., 2015. The role of digital channels in industrial marketing communications. Journal of Business & Industrial Marketing, 30(6), pp.703-710.
Karray, S., 2013. Periodicity of pricing and marketing efforts in a distribution channel. European Journal of Operational Research, 228(3), pp.635-647.
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), p.95.
Lei, N. and Moon, S.K., 2015. A Decision Support System for market-driven product positioning and design. Decision Support Systems, 69, pp.82-91.
Lester, D., 2013. Measuring Maslow’s hierarchy of needs. Psychological Reports, 113(1), pp.15-17.
Maarit Jalkala, A. and Keränen, J., 2014. Brand positioning strategies for industrial firms providing customer solutions. Journal of Business & Industrial Marketing, 29(3), pp.253-264.
Nour, M.I. and Almahirah, M.S., 2014. The Impact of Promotional Mix Elements on Consumers Purchasing Decisions. International Business and Management, 8(2), pp.143-151.
Osborne, M. and Shapiro, A.H., 2014. A dynamic model of price signaling, consumer learning, and price adjustment (No. 2014-27).
Pike, S. and Page, S.J., 2014. Destination Marketing Organizations and destination marketing: A narrative analysis of the literature. Tourism management, 41, pp.202-227.
Setia, P., Venkatesh, V. and Joglekar, S., 2013. Leveraging digital technologies: How information quality leads to localized capabilities and customer service performance. Mis Quarterly, 37(2).
Shamout, M.D., 2016. The impact of promotional tools on consumer buying behavior in retail market. International Journal of Business and Social Science, 7(1), pp.75-85.
Singh, J., P. Kalafatis, S. and Ledden, L., 2014. Consumer perceptions of cobrands: The role of brand positioning strategies. Marketing Intelligence & Planning, 32(2), pp.145-159.
Talpau, A., 2014. The marketing mix in the online environment. Bulletin of the Transilvania University of Brasov. Economic Sciences. Series V, 7(2), p.53.
Order an Essay Now & Get These Features For Free:
Turnitin Report
Formatting
Title Page
Citation
Outline
