Describe The first “P” in the Marketing Mix, People. Who are the consumers and what is the nature of their demand?
The first “P” in Nivea’s marketing mix is “people”. The company’s strategy focuses on the needs and expectations of its customers. Every product marketed by the company is consumer-led. The marketing mix fulfills the expectations of these consumers. The prices, promotions, places, and products are coordinated depending on the needs of the targeted consumers. The first “P” in the marketing mix makes the practice effective. The consumers include all individuals in the society.
Nivea has launched new products to provide the best skincare products to young women and girls. The company undertakes numerous studies in order to identify the existing gaps in the market. Most of the consumers require the best beauty products that will leave their skins looking healthier and younger. Nivea has worked hard to address the needs of these consumers. Nivea has produced a wide range of products to meet the demands of its consumers.
Describe what is meant by a business being ‘consumer led’
The term “consumer led approach” summarizes the business strategy used by Nivea Company. Every consumer-led business will always initiate new practices and strategies depending on the needs and expectations of its buyers. A consumer-led business will always execute new researches in order to understand the expectations of every buyer. The company produces the best skincare products to fulfill the needs of every consumer. Nivea Company avails its products to every customer.
The company has succeeded because of its strategic positioning and distribution processes. The company produces new products in order to address the existing gaps in the sector. Nivea Corporation also uses the best pricing strategies to support the needs of every consumer. This practice explains why Nivea is an example of a consumer-led business. This business strategy explains why corporations should support and treat every consumer with respect.
What are the key parts of the marketing mix? Explain how each works with the others
Marketing mix is a strategic approach used by companies to launch and sell new products to its consumers. Nivea has always used the best marketing mix for its famous NIVEA VISAGE Young. Every company should combine the four elements of the marketing mix in order to achieve its business goals. The first “P” stands for product. Every business needs to develop and produce quality products that address the needs of the targeted consumers.
This product needs to identify the characteristics of the targeted market. The producer should market his or her quality products at a fair price. The marketer needs to use the best pricing strategy for every product. This approach will attract and retain more customers. The marketer can use different pricing strategies depending on the nature and lifecycle of the product.
The third “P” explains why every business should identify the best place to market its products. The company should ensure the products are available in every market. This strategy will ensure the products are available to every potential buyer. Some of the places used by Nivea include cosmetic shops, street shops, and convenient stores. The shopper might not be aware of any unadvertised product. Promotion is a critical practice aimed at informing the consumers about the targeted product.
Promotion is a positive approach because it brings the other three Ps together. Promotion ensures the marketer communicates with different buyers and stakeholders. Every consumer gets a chance to know the benefits of the product. Promotion is a complex process because it entails various practices such as adverting strategies and sales campaigns. These aspects of the marketing mix work synergistically to make the business successful.
Explain why the balance of the marketing mix is as important as any single element
The balance of the marketing mix is as important as any element of the business strategy. The decision to balance the marketing mix ensures the marketer does not focus much on one of the 4Ps. The balance ensures every element gets enough time and resources. The marketing mix will focus on the needs of every consumer. The business will understand where to market the products and the prices to offer. The promotional strategies should also consider the targeted location and price. The balance of the marketing mix ensures the salespeople manage every element in order to have a successful strategy. Any attempt to ignore this practice will make the marketing mix less effective.
Analysis the marketing mix for NIVEA VISAGE Young. What are its strongest points? Explain why you think this is so
The case study explains why the marketing mix for NIVEA VISAGE Young has always succeeded. The company began by producing a strong product that addresses the needs of the customers. The marketing mix also analyzed the strategies of the company’s immediate competitors. Nivea Corporation also identified the best places to market this product. The best idea was to bring this product closer to every consumer. The above strategy is a strong aspect of the business’ marketing mix.
The company used various promotional strategies such as campaigns, TV channels, and social networks. The decision to launch an interactive magazine attracted more customers thus making the marketing strategy more efficient. The promotion was also consumer-led. The approach gave the consumers a new opportunity to use the product. This strategy helped the company achieve its goals. The company also distributed the product through a range of shops and outlets. The above practice addressed the needs of many consumers. The company identified every possible environmental impact in order to have a sustainable business practice. The product succeeded because of this marketing mix.