PRODUCT, MARKETING AND ADVERTISING

Choose few PRODUCT of  MARKETING RESEARCH with 4P ( PRODUCT,  PLACE, PRICE, PROMOTION)

- What is the marketing plan?

- How could market it?

- Who is the target aundience?

- What is the value chain?

- How to promote?

Jimmy Choo

Poduct

- shoes, handbags, accessories, perfume

- All Choo shoes are hand made, his perfectionist craftsmanship is displayed in their simple details. They are never overtly fashionable yet are equal in elegance to the designer clothes 

- Style is elegant, feminine, maybe sexy, favoured by the "Princess of wales, who would buy a style in several colours for evening wear and coordinate with her day suits.

- Choo favers crystalline colours aqua, fuchsia, and bright orange and applies them to luxury fabric like silk satin and shantung. Phython and fish skin are some of his favourite materials because of the way they accept dye, and mink and feathers grace some of his style.

- used a wide variety of stones from swarovski crystals to natural crystals for their healing power.

-Jimmy choo shoes is for the upper class and luxury mostly are actress or superstar. 

- most popular choices ppl wear it on big events or on the red carpets.

- even in film or movie also wearing his shoes.

Price

- expensive and not everyone can afford / less people will buy

- the low price start from RM 500

 (basic designer)

- middle price costs RM 1,200 -RM 2,000 (USD 400-650)

- RM 3,000 - RM 6,000 (USD 950 - 1500)

-Special edition design in 2007 costs around RM50,000 (USD 16,000)

Place

- only available in KLCC and Pavilion in Malaysia

- they just open in this kind of high-class shopping mall

-target audience is upper high class people

- Popular television " sex in the city "  introduced the world to the Jimmy Choo luxury brand

- First lady- Michelle Obana choose a pair of Jimmy chop heels to wear on Inauguration.

-Jimmy Choos are one of the most popular choices gracing the feet of the biggest names on the Red Carpet. 

- princess diana 

-Some of the recent wearers include Victoria Bechham, Jennifer Garner, Jennifer Lopez, Scarlett Johansson, Katherine Heigl, Beyonce Knowles, Jennifer Lopez and Kylie Minogue.

Promotion

-last season , outdated

- outlet DSW shoe warehouse, Jimmy chop online boutique for off season

- lucky enough score a pair on ur size about half retail price

VINCCI

vincci and vincci+

Product

-Malaysia one of the prominent shoe brands.

- main categories ( party, casual, formal)

- shoes, handbag, watches,  sunglasses, bead accessories

- shoes mostly made from synthetic material

-a footwear that focuses on chic and affordability

- real value: quality, functionally and price.

-target audience 12aged to 45aged or teenagers, office wear

Price

- affordable prices and trendiness

- lowest price start RM20

- highest RM300

Place

- 3 warehouse in shah alam

- outlet in shopping  mall 

- up to 300 freestanding stores, franchised outlets and consignment in Malaysia and around the world (brunie, egypt, indonesia, kuwait, myanmar, parkistan, philippines, saudi arabia, thailand and united arab emirates)

-acceptable by everyone , available and easy to find in every shopping mall  

Promotion

- up to 3 times sales in each year.

- mostly up to 50%, some season up to 70%

Products, Marketing and Advertising Media

RESEARCH

SWOT analysis is a structured planning method used to evaluate the Strengths, Weaknesses, Opportunities, Threats involved in a project or business venture. A SWOT analysis can be carried out for a product, place, industry or person. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favourable or unfavourable to achieving that objective.

• STRENGTHS: Characteristic of the business or project that give it an advantage over others.
• WEAKNESSES: Characteristic that place the team at a disadvantage relative to others.
• OPPORTUNITIES: Elements that the project could exploit to its advantage.
• THREATS: Elements in the environment that could cause trouble for the business or project.

4P MARKETING

The marketing mix is what marketing people call as " 4P"
-PRODUCT
-PRICE
-PLACE
-PROMOTION

1) Product
The first thing you need, if you want to start a business is what product you are selling. The business has to produce a product that people want to buy or needs. They have to decide which " market segment" they are aiming at age,income,geographical location etc. After that have to differentiate their product so that it is slightly different from what is on offer at present so that people can be persuaded to "give them a try"
- What product are you selling?
- What would be the quality of your product?
- Which features are different from the market?
- What is the USP of the product?
- What are the secondary products which can be sold along with primary( Warranty? Services?)
Based on these questions, several product decisions have to be made. These all decisions will in turn affect to other variables of the marketing mix.



2) Pricing
The price is the amount of money charged for the product or services. Major considering in pricing is the costing of the product, cost to produce the product, advertising and marketing expenses, competitive pressures or discount and allowance.



3) Place
The place is the making of goods and services available in the right quantities at the right locations. In determining price, a firm must consider factors as objectives, channel type, distribution, kinds/location of stores, transportation, storage and managing or coordinating sales channel.



4) Promotion
Promotion is the communication of information between seller and potential buyer. It involves objectives, promotional blend, salespeople, advertising and publicity.

Thus as we see from the above, all of the four variables of marketing mix are guided by the need to develop logical and coherent strategies, plans and programs. They affect and are affected by the decisions made for every other P.