Market mix paper free essay sample

General Motors is the organization in which I’m familiar with I was with this organization for eight years. However I work for Chrysler at this moment so I’m a little familiar with the automotive industry as a whole. How does market mix affects the development of General Motors marketing strategy and tactics? General Motors has a global marketing strategy and tactics vision which is to design, to build, and to sell the world’s finest vehicles. When designing their vehicle General Motors are focusing on their best products while lifting their global resources to form the most undeniable vehicles and technologies. When General Motors build their new sleet of vehicles they optimize their global market to be cost-effective as well as developing finest segmented vehicles. As General Motors plan marketing strategy and tactic for pricing to maximizing revenues with a focused product strategy, supplying globally vibrant vehicles to the marketplace that offer our customer’s higher residual value, with lower incentives and appropriate pricing. As general motors describe how their product is implemented first the demand for the goods has to be customer based therefore consumers will gladly purchased what is being produced. When implementing place the need is minor other than researching their current location globally to determine which location can produce the product most efficiently while increasing the effectiveness of the product to show significant impact on company profitability. Developing and managing automobiles to compete effectively and achieve goals the organization must be able to adjust its product mix. General Motors understand competition and customer attitudes and preferences. Marginal Analysis is another technique that general motors incorporate when analyzing what happens to the costs and revenues as production increases by one unit. This will determine at which point profit will be maximized, marginal analyzing will distinguish between fixed costs average fixed costs, variable costs average variable cost, total cost while focused on increasing productivity, price is being paid close attention to as well; price is major in this world of automotive. Price is implemented from the value exchanged for the product. The progression of pricing mechanisms starts at fixed versus variable. Most often dealer can change quickly in response to the shift in demand a shift in demand will reveal shifts in total revenue. In some cases pricing can be difficult to predict due to the environment and or the cost structures, pricing can also be difficult due to the competitors pricing. That’s when implementing the fourth element which is promotion. Promotion is a communications strategy, which integrates the promotion synthesis. Advertising is a popular way to communication about an organization or its products that is transmitted to a target audience through a medium: sales promotion: materials that act as a direct inducement, offering adding value, or incentive for the product, to resellers, sales people or consumers: trade promotions = 47% of promotional budget, consumer promotions = 28% Steps of the promotional program. General motors have steps in which they implement promotional programs step one consist of Identifying target audience and characteristics, and perception of product. Step two Define communications objectives such as content, structure, format source and select media and source. When implementing promotion you should take in to consideration Political stand point, personal portion, and evaluation and dealers choice. As General Motors continue to research the way they implement the four P’s they incorporate a worksheets that will help them gain better understand and tailor their marketing mix to ensure their customers’ needs and wants. The worksheet is setup to compare each element such as describing their products characteristics on one side of the worksheet and on the other side of worksheet will be describe their competitors’ products characteristics. The price worksheet is set up with the pricing strategies of their product advantages and disadvantages on one side of worksheet, on the other side of the worksheet their competitors advantages and disadvantage of pricing strategies. The place worksheet is set up as how General Motors product is distributed on one side and on the other side their competitor way of   distributing their product. The set up for promotion would consist of General Motors way of promoting on the right column (advertising, television, radio, electronic or work of mouth) and their competitor way of promoting on left column. According to â€Å"businesscasestudies â€Å" three more P’s have been added to the list of market mix P’s the new three P’s are people, processes and physical which are put in to place for extended marketing mix. These seven Ps make up the strategies of marketing and become the main point of the marketing plan. The key goal of a marketing leader is to develop and sustain a marketing mix that matches the requests of the consumers in the targeted market. Marketing segmentation contains separating the entire market into segments. A corporation selects the segments to become the targeted market. The final aim of market segmentation is to intensification sales, which will help market share and profits by enhanced understanding and replying to the desires of the different targeted customers. General Motor’s success is a direct result of knowing how to market a product and having the correct individuals representing the product. The marketing mix is the key elements in the success of the organization. The elements of marketing include marketing strategies, market objectives, situational analysis and the targeted market. The Best marketing strategies start with an executive summary that provides a brief summary of the current matters affecting an organization. This strategy is vital in identifying key structures of a marketing strategy. After the executive summary the organization finds out its present situation in the market using a situational analysis. A situational analysis is an exceptional way to open the marketing plan as covers four mechanisms in a market analysis, the product analysis, the competitor analysis and the SWOT analysis. General Motors market analysis is fundamentals in determining the internal and external factors that influence the organizations certainties and uncertainties. For instance when theirs an economic movement and when theirs an economic slumps that will affect the organization. The product analysis is essential when inspecting a organizations present conditions of goods or services within a marketplace environment. It is vital that General Motors to know when a vehicle’s time is up and needs to be renewing or replacing. General Motors always keep an eye on their competitors, when doing so they will examine the marketing ideas and strategies of key competitors and evaluate how effective their operations currently are doing in areas where competitors may be seen to be a bit stronger than they are currently doing. The Promotional agencies and marketing specialists get paid a large amount of money to generate ads that are remarkable when getting individual to see the ads as well as getting people to conversation about them is huge challenges. The collective misconception is the amount of funds it take to market marketing campaigns that’s why marketers originated the solution of letting the customers spread the word which is better known as Viral Marketing. Good marketing can change an organization instantly between advertising and word of mouth it will give General Motors them influential way to engage their targeted audience. According to â€Å"General Motors.Com† Currently General Motors is the world’s leading automotive company with operations in more than 120 countries worldwide. In 2011 they sold 9.0 million vehicles. Their organization is diversified through products and geographic markets. They meet the indigenous sales and service requests of their retail and fleet businesses with a global linkage of independent dealers. Recently General Motors has experienced the manufacturings highest volume growth period. Throughout the globe, they are the leader in market share and vehicle sales, led by a diverse assortment of brands sharing core stages of efficiencies and connection by GM’s global range. Throughout the United States General Motors product the Cadillac which is their top vehicles then they have their GMC a very popular truck brand and the Chevrolet which is more of their smaller economy cars other than the corvettes which is one of the fastest vehicles on the road. Outside the United States General Motors manufactures and markets Holden, Opel and Vauxhall as well as the Cadillac, Buick, GMC and the Chevrolet. http://www.gm.com/company/investors/corporate-strategy.html http://www.extension.purdue.edu/extmedia http://www.businesscasestudies.com