[Get Solution] Marketing Mix Problem
analyse and summarise one problem associated with the marketing mix. This needs to start with a brief identification of the problem, stating the element of the marketing element to which it relates. This should then be followed by an analysis of the problem, using concepts from B629/BZX629. Finally, the section should finish with a brief summary of both the problem and the analysis. The analysis should comprise the largest part of this section. Choosing a suitable problem is important, so that you are able to analyse it properly, using relevant module concepts. You should choose one that you have direct experience of and, preferably, some control. It should focus mainly on one applicable element of the marketing mix (i.e. one of the 7Ps). However, many problems may have a bearing on other elements of the marketing mix, too, and your analysis should make this clear. Remember that you must use concepts from B629/BZX629; if focusing on a product, price, place or promotion problem. We expect better answers to state the complexities of the situation and also to identify course themes. The marketing mix problem relates to price and is as follows – Our competitors frequently deep-discount their products which dramatically affects our sales we use a strict cost-plus pricing methodology so we are unable to respond with significant discounts. A few things that will help As sales advisers we take calls from customer looking to take sky services either cheaper that their current provider or looking to be a quote from another service provider. The offer we are given are set by the finance and marketing team and are reviewed each quarter by we cannot match some of the deep discounts that other providers offer. Sky offer additional features with there products meaning that some customers see the value and some are priced focused. I have include the product part of the paper to help understand why. Pricing and product are the main elements of the marketing mix, with pricing being the only revenue-generating elements (B629, 2011, pg.78). Through pricing, Sky compensates for the cost of production. Furthermore, the price of the product is majorly linked with the quality and satisfaction of the customer. The services Sky offers its customer along with Sky Q products and the features analysed using the Three-level products analysis Fig 4 are of a higher quality and offer the customer more value for their money, therefore outperforms its competitors meaning customers are willing to pay a higher premium. Sky sell their services to their competitors – to retail to their customers. Using concepts from 78-88 of the text book provider you need to apply these concepts to the problem. i do not need a intro to sky. Please include diagrams of the concepts but make sure you have attapted them and refrenced them.