Marketing Mix Essay

4400 words - 18 pages

MASTER OF BUSINESS ADMINISTRATIONAWARDED BY NOTTINGHAM TRENT UNIVERSITYASSIGNMENT SUBMISSION FORMNote: Students must attach this page to the front of the assignment before uploading to WECSERF.For uploading instructions please see the help file onlineName of Student: Timothy Ong Toon MunStudent Registration Number: PP205Module Name: Managing Strategic MarketingModule Number: 08Assignment Title: Marketing MixSubmission Due Date: 12th April 2009Student's Electronic Signature: Timothy OngPlagiarism is to be treated seriously. Students caught plagiarizing, can be expelled from the programmeManaging Strategic MarketingMarketing MixByTimothy Ong Toon Mun12th April 2009( 3,675 words)TABLE OF CONTENT4EXECUTIVE SUMMARY 61.0 Introduction 72.0 Company Background 83.0 Literature Survey 104.0 Brief of Product & Market 115.0 Present Marketing Mix of TEL CT Lithius 115.1 Present Marketing Mix - Product 115.2 Present Marketing Mix - Price 125.3 Present Marketing Mix - Place 135.4 Present Marketing Mix - Promotion 146.0 Proposed Improvement to Marketing Mix 146.1 Proposed Marketing Mix - Product 156.2 Proposal Marketing Mix - Price 166.3 Proposal Marketing Mix - Place 166.4 Proposed Marketing Mix - Promotion 187.0 Conclusion 208.0 HAVARD REFERENCING 208.1 BOOKS. 208.2 JOURNAL ARTICLES AND RESEARCH PUBLICATIONS 208.3 ELECTRONIC AND PRINT MEDIA 219.0 APPENDIX 21Appendix 1 21Top Equipment Suppliers 2007 EXECUTIVE SUMMARYMarketing Mix for TEL on CT products like Lithius Series is high concentration on Products & adequate focus on Price, Place & Promotion. In order to put forward a marketing mix that will not jeopardized TEL CT product's 80% market share & continue to be a market leader in his field, it is to modify the present Marketing Mix & improvised it to suit present market situation.TEL should maintain their investment in R&D with their superior technology advancement in CT to provide product excellence in quality to functionality & features. Continuous efforts in improving TEL tools throughput, cost of ownership & safety should not be neglected. TEL should step up further in their effort in developing tools & equipment that focus on preserve energy & reducing impact to the environment such as lower energy consumption equipment. Other strategy like extending warranty period to customers should be considered.Proposed Price strategy on this marketing mix is applying Skimming Pricing Strategy to set an initial high price to & then slowly lower the price to skim profit of the market layer by layer. Maintaining the high profit margin is still the top priority but should not ignoring the price & offering of competitors. Bundling Price Strategy, flexibility on pricing & payment on consumable part & service are a few strategies to add value to customer at the same time can fending off competitors Penetrating Price strategy. Match competitor in term of total value but on selling price while maintaining the profit...

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