Planning and Implementation Essay Example | Topics and Well Written Essays - 2000 words

Planning and Implementation - Essay Example Having the right marketing mix enables our organization to achieve its business objectives. Fit watch business objectives include creating brand awareness, acquiring market and maintaining it. Product is the central point on which fit watch marketing department focus on. It is concerned with what the product means to the customer. Marketing group therefore plays a key role in determining such aspects as: the appearance of the product in line with the requirements of the market; the function of the product on the question whether it addresses the needs of customers as identified through market research. The product offered is a watch. The company has discovered a need to increase the satisfaction level of the watch to the customers as well the advancement of technology. The watch has all the essentials that a customer looks for while considering making a purchase. It has all the performance characteristics of an existing watch. In addition to this, it has additional features such as flashlight, Wi-Fi hotspot and better health tracking strategy. The characteristics will help the watch to take the obligation of a torch will take part in internet access through Wi-Fi hotspot and as well will act as a friendly device to health of an individual. Pricing is one of the most important decisions made by any business organization. Of all the aspects of the marketing mix, price is the one which creates sales revenue while all the others are costs. The price of an item is clearly an important determinant of the value of sales made. In theory, price is really determined by the discovery of what customers perceive is the value of the item on sale. Researching consumers opinions about pricing is important as it indicates how they value what they are looking for as well as what they want to pay. Economists use the term market clearing price to identify a price at which sellers are prepared to sell because they feel they are getting a fair price, and buyers are