Marketing Mix is a very essential concept for the progression of the business. Products and services of a business organization get effective strategic positions in the market with the help of using marketing mix. According to Belz (2011), through appropriate attentiveness of the marketing mix, an organization can have proper explicated marketing tactics and strategies through which the company’s marketing objectives can be achieved at the required level. Marketing mix is not merely a single term but it is an assembly of different elements of marketing.
It basically constitutes 4P’s of marketing mix such as price, place, product and promotion. All these 4P’s have similar repercussion for the promotion of products in various organizations. These justifiable elements of marketing mix can be utilized by a business organization to increase its marketing efficiency. With the marketing mix, a company can have access to marketing information so as to determine the outcomes of the marketing activities on its total sales. The company can evaluate the extent of efficiency of its marketing activities using the information gathered from the marketing mix.
Some of the 4P’s of Marketing Mix that Interface need to implement to realize success include:
Product mix is the most essential element of marketing strategies of a company. Interface is well known as the global best provider of commercial carpet tiles. The organization deals with selling and leasing carpet tiles. Due to the recent poor performance by Interface, its product determination should be integrated to form part of its marketing strategy. The marketing department of ESA should mainly focus on the market segmentation as per the department requirements of the potential customers so as to meet the demands of the abnormal market segments in an effective manner. In its marketing strategies, ESA should consider the brand images of its products and services as an essential aspect. With its inventive branded products, Interface need to undertake its strategy of understanding the entire carpet selling market. In order to attract many prospective customers with limited financial ability, the company should offer simple packages, which are affordable to many. This should also include after sale services such as free installation services to those who have bought the carpets. Such offers should also include one year free maintenance services of the product.
For Interface to prosper and become a world leading carpet tile provider, pricing should be the most essential element of its marketing strategy. With its already eminent pricing policy Interface need to establish an affordable pricing policy which can attract more customers to buy and lease carpet tiles from the company. In its marketing strategies, it should avoid increasing the carpet tiles’ price after the rise in stiff competition in the carpet tile market. As part of Interface’s ESA marketing strategy, it should basically deal...