Marketing Mix for one type of FMCG: The marketing mix includes all marketing decisions and actions taken to ensure the success of a product, service or brand on its market. Traditionally considered the decisions and actions of the marketing mix are taken into 4 main areas which are: - Product policy - Pricing policy - Promotion policy - Place policy Fast-moving consumer goods (FMCG) or consumer packaged goods (CPG) are products that are sold quickly and at relatively low cost (food brands and hygiene products….) The implementation of the marketing mix must achieve the objectives arising from the marketing strategy. Decisions taken within the different variables or policies are interdependent and must be consistent. Product: Gillette Fusion is designed for general male population usage. Gillette Fusion’s core benefit is facial hair shaving, while their actual product is incorporated with technological innovations and thus possesses many advanced features, which contribute to high product quality with a packaged uniquely. Price: Gillette Fusion utilizes premium pricing whereby they set prices artificially high so that favorable perceptions about the brand may be fostered. It makes consumers to presume that expensive items imply good reputation or exceptional quality. Moreover, premium pricing would help Fusion distinguish itself from other low-cost brands, thus avoid the case of price war. Place: Gillette Fusion is distributed through retailers. It is also made available through online shopping websites to facilitate the purchase process by a click. Its distribution embodies pull strategy whereby P&G spends huge budget on Advertising and thus creates the demand by consumers. As a result, it attracts wholesalers and retailers to carry Gillette products. Promotion: The two major promotional tools used by Gillette Fusion are Advertising and sales promotion. For Advertising, Fusion has long been initiating new Advertising program in TV, magazines, and billboards. With P&G’s creative marketing communication plans, Fusion is able to tap on this advantage. Management and Maintenance of Brand Equity: Brand Equity is defined as the differential effect that knowledge about the brand has on consumer response to the marketing of that brand (Kevin Keller). Positive customer-based brand equity results when consumers respond more favorably to the marketing activities when the brand is identified than when it is not. Building brand equity will improve brand profitability. Elements of Brand Equity Brand Loyalty: Brand loyalty is a measure of the attachment that a customer has to a brand. Brand Awareness: the ability of a potential buyer to recognize or recall that a brand is a member of a certain product category, Perceived Quality: The customer's perception of the overall quality or superiority of a product or service with respect to its intended purpose, relative to alternatives. Perceived quality is a perception by customers. Brand Association: A brand association is anything "linked" in memory to a brand. Why Brand Equity of Nestle is Best? The Nestle brand strategy is developing shared values in business through corporate brand. They protect and enhance the business sustainability by delivering total quality management in their food quality. There IS the core concept of nestle brand is good food must be for good life. Therefore Nestle is shareholder friendly that depicts the welfare of society as a whole. Nestle believes that the role of its brands has always met customer satisfaction in all the way. Without customer trust and integrity they cannot acquire long term relationship. Notion of “Value” from the customer’s perspective: Customer value has something to do with the benefit which a product or service creates in customer in return for the cost that customer bear in order to get that service. The concept of value is often compared to quality and price. Quality is a feature that increases or decreases the value of a product or a service. This can therefore be stated as “quality = customer satisfaction.” By viewing marketing from the customer's perspective, we find that the factors impacting the purchasing process may involve more than our traditional marketing definitions would indicate. If we're to find that ever elusive marketing edge to meet increased competition, we may need to expand our marketing effort to include this broader customer oriented perspective. Impact the news technologies on the marketing mix: This is no longer the consumer comes to the brand, but the brand that goes to the consumer. As consumers spend more and more time on the Internet, many companies are shifting more of their marketing budget to online advertising to build their brands or to attract visitors to their websites. The amounts spent online advertising have increased exponentially, and this rate of increase is not expected to slow down in the foreseeable future. Marketing in the digital age, the four P’s becomes: Product = Presentaion Place = Presence Promotion = Personalisation Price = Premise Using mobile, Marvel Company is supporting customer engagement in any place, at any time. Responsive design, apps, podcasts and digital downloads are all available, including the ability to access content without the need to be connected to an internet or phone network.
