Bmp4103 Understanding Contemporary Marketing Issues Assessment Answers

Answer:

Introduction: 

Concept of Marketing 

As commented by Ahmed and Rahman (2015), marketing is defined as the management process wherein the different goods and services move from the different companies to the different customers in an efficient manner. Furthermore, the marketing is inclusive of the different kinds of involvement and coordination of the various elements such as price, product, place and the different promotional activities.

The four 4Ps of marketing is inclusive of the following aspects and analysis which are defined as follows:

• Proper identification, development and selection of the product
• Proper determination of the price for the respective product
• Proper and well-organized selection of the distribution channels in order to reach to place of the customers
• Proper development along with execution of the promotional strategy

For instance- In case of Apple, this has been noticed that there are different launch of Apple products and the prices are different from one another. Due to the advancement of the technology which is inbuilt in the iPhone, this assists in identifying the capability of the desire of the different customers effectively. There are different featured events which are being organized by Apple to gain more competitive advantage.

Theory of Marketing Process 

Furthermore, Lee et al. (2014), have opined that marketing process is inclusive of the different ways or processes wherein the value can be created for the different customers in order to satisfy the different needs and wants of the customers in a positive manner. Helm and Gritsch (2014), have opined that the theory of the marketing process is the endless type of series of different actions along with the reactions of the different customers in the entire market wherein the main attempt was to create value for the customers and satisfying the requirements of the different customers as well.

Moreover, on the other hand, Gummesson (2017), has opined that the different firms are required to analyse and discover the different demands of the customers which are unfulfilled in nature. The process is inclusive of the different steps which is sequence of the different steps to understand and identify the opportunities, proper tactical decisions are being analysed and made along with results are being monitored.

                                                                   Figure 1: Marketing Process

                                                             ( Source: Andrews and Shimp 2017 )

Huang and Sarigöllü (2014), has opined that the marketing process theory is inclusive of the different aspects wherein the situational analysis is inclusive of PESTEL, SWOT and the 5C analysis which can be used to add structure to the entire situation analysis in an effective manner. On the other hand, Fan, Lau and Zhao (2015), has opined that the second stage is inclusive of segmentation, targeting and positioning of the respective product in the market. Moreover, Davari and Strutton (2014), has opined that the marketing mix decisions are being analysed through proper implementation of product, pricing, promotional along with distribution contracts in an effective manner.

 Lastly, the implementation along with control activities have been analysed in which the different aspects are continually monitored along with adaption is required to fulfil the needs of the customers. The value proposition aspects are being analysed which are the major aspects required to be taken into consideration while marketing a specific product to the customers (Jackson and Ahuja 2016).

Application of Marketing Mix of Dyson’s Vacuum Cleaner 

Lovelock and Patterson (2015), has commented that the marketing mix is the proper and actual understanding the targeted market along with analysing the general requirements of the different customers in the market.

                                                   Figure 1: Dyson Wireless Vacuum Cleaner

                                                                    (Source: Khan 2014)

Product

The wireless vacuum cleaner of Dyson is the major reinvention, redesigned along with technologically advanced in nature of Hoover. Dyson Vacuum is the first bag which is less cyclonic, light-weighted, durable, higher suction along with wireless which is convenient in nature to use. The branding of the product is simple and unique and Dyson tried to keep improving their products on the basis of the wants of the customers effectively (Sinapuelas, Wang and Bohlmann 2015).

For instance- In case of the respective wireless Vacuum Cleaner, this has been seen that the vacuum cleaner has improved from upright vacuum to the usage of the ball which has been able to man-oeuvre easily mostly on the different floors effectively. The new battery-powered vacuum cleaner is slimmer in nature and lighter in nature.

                                                                     Figure 2: Product Features

                                                          (Source: Srinivasan, Rutz and Pauwels 2016)

The new one is smaller in shape and size as there are different problems faced by many individuals in inability to cope up with the tedious work as the large vacuum cleaners are heavy and difficult to use. The new machine is being able to sense the actual temperature, altitude along with barometer pressure of the outside environment along with adjusting its performance and this is being powered by innovative kind of digital motor (Steenkamp 2017).

Price

James Dyson was clever in his approach in deciding the price of the product which is the wireless vacuum cleaner. The main motive of the James Dyson was to mainly concentrate on making the different innovations along with uniqueness in the product which are being prepared by him in an effective manner (Stead and Hastings 2018). For instance- Dyson Company has tried in introducing the different kinds of aspects such as innovativeness along with differentiated aspect. From the viewpoint of the different customers, the price tag was never a factor for them as the brand stands out from others and they are comfortable for paying more for such branded product (Baker 2016).

                                                            Figure 3: Premium Pricing Strategies

                                                                  (Source: Baker and Saren 2016)

However, the price tags which were used by the different products were high in nature and the current pricing of the wireless vacuum cleaner is £399 (Cleaners and Williams 2018). The premium pricing technique is being used by the company, however it does not affect their sales and profitability of the organization as the customers were conscious regarding the quality along with the innovativeness of the products and there was no such consideration of the high price which was being charged by the company.

Place

Dyson is the inventor who tried in inventing the different kinds of products which are unique in nature. After the fixation of the price, the major aspect is the distribution of the products to the different countries to reach to maximum customers and gain more competitive advantage in an efficient manner (Ludlow 2018). For instance- Previously, this was being noticed that Dyson tried to make the distribution channel in Japan and this helped them in taking the entire market in storm. Previously, Dyson tried to introduce the different designs and make it available in the entire United Kingdom market.

Firstly, the company mainly focused only on the different niche market segment as the premium pricing strategies was not acceptable by all. However, after the introduction and innovation of the wireless vacuum cleaner in the year 2017, there has been huge increase of 54% wherein more than fifty percentage of the population are having the wireless vacuum cleaner in the entire United Kingdom market.

(Andrews and Shimp 2017).

Promotion

There are different promotional activities which are required to be adopted by the organization Dyson in order to improve their efficiency in an operative manner. The different promotional activities which are being adopted by the organization is through television advertisements, wherein James Dyson tried to model the different products in an operative manner which helped them in attracting more customers in a proper manner. Dyson tried to showcase the modelling of the different inventions as this helped the company in setting the brand apart from the other competitors.

For example- In case of Wireless Vacuum Cleaner, Dyson tried in posting the video on YouTube and other similar websites which assisted them in increasing the production of the same in an efficient manner. With the help of the advertisements in television and through newspaper and other social media networks, there has been huge increase in the sales of the cord free vacuum cleaner.

Although, in the present scenario, this can be seen that Dyson has not been advertising the products on television or through other means, as he tried in showcasing the invention of the wireless vacuum cleaner through the modelling of the same which will be efficient in analysing the views of the customers and review on the same in an appropriate manner (Verhoef, Kannan and Inman 2015).

People

It can be analysed that Dyson is growing in terms of sales and profit and Dyson has conducted proper training to the different employees in an effective manner. Furthermore, Dyson School of Design Engineering has been opened which has helped Dyson in employing the enthusiastic engineers along with analysing their role in managing the different activities efficiently.

For instance- In case of the wireless Vacuum cleaner, this can be seen that proper training is essential in nature which helped them in managing the different kinds of activities in an efficient manner as there are few aspects which are innovative in nature.

Physical Evidence

There are different kinds of services which is inclusive of the different physical environment which is inclusive of the factory along with business environment. Dyson Company has tried in setting up supply chain and they started new production in England with the new factories. Furthermore, this has been noticed that Dyson helps in encouraging the local and clean environment wherein the engineers mainly focuses on pollution free aspects of the different machines.

Process

Dyson tried to set up a proper supply chain wherein there are different production facilities by setting up factory in England. With the introduction of wireless vacuum cleaner, the main aspect is the design along with quality of the products by focusing on the needs of the customers. The different engineers were trained about the different products which was helpful inn managing the effectiveness.

Conclusion: 

From the entire analysis, this can be inferred that the marketing mix is essential in nature as this helped in creating right marketing related strategy for Dyson. The entire assessment of the price, product, place and promotional activities are taken into consideration which has helped in playing he vital role in the overall marketing approach which has been used by Dyson in promoting the Wireless Vacuum Cleaner in the entire market. The wireless vacuum cleaner which has been introduced by the Dyson Company is the major evidence of the technological advancement which is being perceived in the overall market which is competitive in nature.

Furthermore, from the 4Ps of the marketing mix of the respective vacuum cleaner, this was being noticed and seen that while buying the best and most innovative vacuum cleaner, which would last longer after the usage, they prefer Dyson Vacuum cleaners along with the different other products which are being mentioned in the products and services list of the company. Dyson is one such company which mainly focuses on innovation and providing innovative products to the customers which helped them in meeting the needs of the customers in a proper and appropriate manner which led to increase in their productivity.  

Additionally, there are different kinds of instances which have been provided regarding the different products such as previously invented the other vacuum cleaners and they tried to promote the same with the proper implementation of the different television or social media advertisements and gained more competitive advantage. However, the place has been changed from United Kingdom to Japan and the other countries which helped in managing their effectiveness in a positive manner.

With the invention of the Dyson Wireless Vacuum Cleaner, this can be assumed that the main motive of the Dyson Company is not to earn money, however to be innovative and analyse the requirements of the customers and accept the innovations which are required in order to become more popular in the entire competitive market. James Dyson tried in changing the promotional strategies and there are no such promotional ads provided on the different social media networks and the other television websites as he feels that the opinions of the customers play a major role in making their products more successful.

Dyson is one such company which tried to turn he different ideas and aspects into successful technology business wherein there are more than 1000 specialist engineers along with scientists in the entire world. From the marketing mix, this has been seen that wireless vacuum cleaner is premium priced, however the customers do not mind paying the high amount as they are concerned relating to the quality and the innovation of the product which is efficient and appropriate. From the above analysis of the marketing mix and the other marketing process, this can be concluded that Dyson is one of the British’s largest along with private 100 organizations with the growing amount of sales along with increase in the overall revenue and profit in an efficient manner.

References:

Ahmed, S. and Rahman, M., 2015. The effects of marketing mix on consumer satisfaction: A literature review from Islamic perspective.

Andrews, J.C. and Shimp, T.A., 2017. Advertising, promotion, and other aspects of integrated marketing communications. Nelson Education.

Baker, M.J. and Saren, M. eds., 2016. Marketing theory: a student text. Sage.

Baker, M.J., 2016. What is marketing?. In The Marketing Book(pp. 25-42). Routledge.

Cleaners, D. and Williams, R. 2018. Dyson kills off full-size corded vacuum cleaners. [online] inews.co.uk. Available at: https://inews.co.uk/news/technology/dyson-kills-off-full-size-corded-vacuum-cleaners/ [Accessed 15 Nov. 2018].

Davari, A. and Strutton, D., 2014. Marketing mix strategies for closing the gap between green consumers' pro-environmental beliefs and behaviors. Journal of Strategic Marketing, 22(7), pp.563-586.

Fan, S., Lau, R.Y. and Zhao, J.L., 2015. Demystifying big data analytics for business intelligence through the lens of marketing mix. Big Data Research, 2(1), pp.28-32.

Gummesson, E., 2017. From relationship marketing to total relationship marketing and beyond. Journal of Services Marketing, 31(1), pp.16-19.

Helm, R. and Gritsch, S., 2014. Examining the influence of uncertainty on marketing mix strategy elements in emerging business to business export-markets. International Business Review, 23(2), pp.418-428.

Huang, R. and Sarigöllü, E., 2014. How brand awareness relates to market outcome, brand equity, and the marketing mix. In Fashion Branding and Consumer Behaviors (pp. 113-132). Springer, New York, NY.

Jackson, G. and Ahuja, V., 2016. Dawn of the digital age and the evolution of the marketing mix. Journal of Direct, Data and Digital Marketing Practice, 17(3), pp.170-186.

Khan, M.T., 2014. The concept of'marketing mix'and its elements (a conceptual review paper). International journal of information, business and management, 6(2), p.95.

Lee, C.H., Ko, E., Tikkanen, H., Phan, M.C.T., Aiello, G., Donvito, R. and Raithel, S., 2014. Marketing mix and customer equity of SPA brands: Cross-cultural perspectives. Journal of Business Research, 67(10), pp.2155-2163.

Lovelock, C. and Patterson, P., 2015. Services marketing. Pearson Australia.

Ludlow, D. 2018. New Dyson Vacuums 2018: Meet the cordless Cyclone V10 family. [online] Trusted Reviews. Available at: https://www.trustedreviews.com/news/new-dyson-vacuums-2018-3410897 [Accessed 15 Nov. 2018].

Sinapuelas, I.C.S., Wang, H.M.D. and Bohlmann, J.D., 2015. The interplay of innovation, brand, and marketing mix variables in line extensions. Journal of the Academy of Marketing Science, 43(5), pp.558-573.

Srinivasan, S., Rutz, O.J. and Pauwels, K., 2016. Paths to and off purchase: quantifying the impact of traditional marketing and online consumer activity. Journal of the Academy of Marketing Science, 44(4), pp.440-453.

Stead, M. and Hastings, G., 2018. Advertising in the social marketing mix: getting the balance right. In Social Marketing(pp. 29-43). Psychology Press.

Steenkamp, J.B., 2017. Global Marketing Mix Decisions: Global Integration, Not Standardization. In Global Brand Strategy (pp. 75-109). Palgrave Macmillan, London.

Verhoef, P.C., Kannan, P.K. and Inman, J.J., 2015. From multi-channel retailing to omni-channel retailing: introduction to the special issue on multi-channel retailing. Journal of retailing, 91(2), pp.174-181.