Why “JD” is so successful in its marketing? If we focus on the needs of consumers, an organization creates a business that can outclass its competitors. The goal is also being closer to consumers and providing exactly what they want, for at last, trigger their purchase. This kind of business carries out research to find the needs and wants of consumers. It then uses the findings to design products and marketing strategies to satisfy these needs. JD is a British company using a specific marketing to grow and develop themselves. First, they evaluate the consumers’ needs.
So, they product exactly what consumers want to buy; consumers like especially the design of products. We can say that JD adapts its marketing mix with the different consumers’ needs. “Marketing mix” is a general phrase used to describe the different kinds of choices organizations have to make in the whole process of bringing a product or service to market. The 4 Ps is one way, probably the best-known way of defining the marketing mix. These 4 Ps are the parameters that the marketing manager can control, subject to the internal and external constraints of the marketing environment.
The goal is to make decisions that center the four P’s on the customers in the target market in order to create perceived value and generate a positive response The 4 Ps : * Products : * Brand name * Functionality * Styling * Quality * Safety * Packaging * Repairs and Support * Warranty * Accessories and services * Place : * Distribution channels * Market coverage (inclusive, selective, or exclusive distribution) * Specific channel members * Inventory management * Warehousing * Distribution centers * Order processing * Transportation * Reverse logistics * Price : Pricing strategy (skim, penetration, etc. ) * Suggested retail price * Volume discounts and wholesale pricing * Cash and early payment discounts * Seasonal pricing * Bundling * Price flexibility * Price discrimination * Promotion : * Promotional strategy (push, pull, etc. ) * Advertising * Personal selling & sales force * Sales promotions * Public relations & publicity * Marketing communications budget Since its foundation in Manchester, JD opened several stores in new locations and developed its business in Scotland, UK, Ireland, France, and all around Europe.
The Review on Impact of Product Price and Brand Name on Quality Perception
In ordinary usage, price is the quantity of payment or compensation given by one party to another in return for goods or services. In modern economies, prices are generally expressed in units of some form of currency (For commodities, they are expressed as currency per unit weight of the commodity, e.g. Tshs per kilogram.) Although prices could be quoted as quantities of other goods or services ...
Since then JD became an international company. Besides, the company focuses on young prospects to realize their products. They help business environment and touch a large target, consumer’s trainers, sport fashions, and JD uses also the image of popular brands like Nike and Adidas to become popular as well. JD doesn’t depend to manufactures because they have bought power and knowledge of manufactures. . Otherwise, JD is using different pricing strategies: marketing penetration, competitive pricing and strategic pricing.
JD’s company buys its products in large volume, it explains that’s why the units’ costs are cheaper and JD stays in competition. We call that : economies of scale. The company is also playing in the events field. In fact, JD makes a special shopping experience to their customers a few times in a year, by creating a fun atmosphere for the consumers in an exciting place. The purpose is to trigger customers’ purchase. To conclude, with that mix marketing strategy, today the “JD Sports Fashion Group” has over 500 stores in the UK, Ireland and France, and a reputation for stocking the most exclusive and stylish lifestyle products.
The Essay on Company Background & Product Analysis
... product positioning. Furthermore, pricing affects other marketing mix elements such as product features, channel decisions, and promotion. 5.2 What factors should the company ... businesses. Mobile Phones products in NOKIA Company are the ... consider when setting prices? Justify your answer. A company’s pricing ...
