Product, Price, Place, Promotion — Essay Sample Marketing decisions made by a company when shaping a suitable proposition for the potential customer can be organized into four major groups. These are Product, Price, Place and Promotion.
Let us start the Omega Marketing Mix: Omega SA is a brand that is well known across the globe mostly for its premium watches. People generally connect these watches with the social status.
It is always known for its quality product and world class services to its customers. Omega have always been the first mover in watch sector and they have enjoyed getting the first mover advantage. They have always come up with unique products that fascinate the whole world. The product strategy in the marketing mix of Omega focuses on giving high quality and premium watches to customers.
They were the first watch manufacturing company to come up with tourbillion wristwatch calibre in the year In the yearthey came up with a watch that had coaxial escapement invented by George Daniels marked companies one of the great milestone.
Again in the yearthey came up with new models such as calibres and They are also trying to make a watch which will be first of its kind that is resistant to magnetic fields greater than 1. Omega have separate category for men and women.
Women collection includes Ladymatic, Specialities, De ville and many more. Omega is one the best known luxury watch brands in the world. Price is one of the important aspects for watch manufacturing company when they target premium and luxury segment.
Though they are rich and wealthy, still they want value as they will be spending huge chunks of money to buy these products. Omega SA is always known for its product quality. That is the reason, it is the market leader.
It has been seen that Omega SA avoids competition based pricing strategy in its marketing mix. Rather its focuses on strategy where it promotes non-price benefits to its customers. That is where it differentiates itself from other luxury watch manufacturers.
Omega always keep their prices in such range that the customer feels that they are having highest quality watches at best prices. Omega watches are present and accepted across the globe. People from different parts of the world use Omega watches as it increases social status for them.
It is because of their global supply chain management, Omega is able to sell watches to all its subsidiaries that are well recognised. They have around agents that provide them with the updated information about sales, inventories and orders.
This information helps them to cater to the customers in a much better way. Omega also have more than 10, retail stores across the globe that is strategically positioned such as in airports, boutiques to provide an easy access to the customers.
This tells us about the place and distribution strategy in the marketing mix of Omega. Omega use extensive level of promotion to catch hold of the customers. They advertise their products in magazines through which they target people who are high reputed and famous readers.
Whenever Omega come up with new product in the market, they hold five star events and gives public releases in order to promote it. They always brand their product through various people such as Omega Seamaster series is branded by athletes and male actors.proposal of marketing?
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Kowloon Dairy Marketing plan By Chris Ng Content 1. Introduction 2. Current marketing situation • Market analysis • Competitor analysis • Customer analysis • Company analysis • SWOT analysis 3. Marketing Mix Decisions IE —WSWX Marketing Mix The term “marketing mix” became popularized after Neil H.
Borden published his article, “The Concept of the Marketing Mix”.
Borden began using the term in his teaching in the late ’s after James Culliton had described the marketing manager as a “mixer of ingredients”.
OMEGA Ladymatic is a high-end market product, which is worth up to ten thousand on average price. However, most inexpensive and medium-priced watches used mainly for timekeeping are electronic watches with quartz movements.
If the price of OMEGA Ladymatic is changed suddenly, it will stimulate the market and consumer demand a lot. Marketing Mix: Product, Price, Place, Promotion – Essay Sample Marketing decisions made by a company when shaping a suitable proposition for the potential .
To sum up, according to my assessment of the research of the result, OMEGA did well in the promotion part of the marketing mix and that is the reason why OMEGA can stand erect in the watch market for a long time to come.