Individual Internet Assignment Essay Example | Topics and Well Written Essays - 750 words

Individual Internet Assignment - Essay ExampleSuch conclusivenesss require consistency in the general business and the merchandise strategy for that business. A rightful unit in this line makes decisions on products within it, the price within the set guidelines, dealers to be apply and a parley strategy that is analogous to the business strategy. A product portfolio is the set of products that is offered by a company. The marting strategy of a company should thus be alongside the products in the offer and based on various business models (Zamagni 373). 1. Marketing mix According to Perreault and McCarthy (50), a marketing mix is a set of variables tack together together by a company to satisfy the target market. It has four tenets as indicated in the figure below. Product this involves the development of the correct product for the market. wizard should choose the right characteristics and services for customer satisfaction. Place the business should ensure that the product i s at the right place where it is required by the target market for purchase. Price the business owner should choose a price that the target market is willing to spend on the product Promotion the process of informing the target market about the product With a good marketing mix, the customer is able to perceive the product correctly. It determines the poisoning of the product with relativity to the inevitably of the customer. 2. Porters five forces The porters model is essential for checking the economic models that impact a business (Zamagni 375). The model (as indicated in the figure below) can be used by a company in the following ways Internal industry rivalry this occurs through competition in pricing the products or another(prenominal) means. The firms should be able to set competitive prices (as defined in the market mix). Entry threat this threat arises from other companies who may want to develop the kindred product. It can be lowered by developing high end products Sub stitute products the business owners should be aware of the substitutes available in the market and sense of smell out for potential substitutes. They can decide to enlarge market definitions. Supplier/buyer powers the business should offer a wide range of prices to the buyers. To the suppliers, they should be abandoned very high standards for materials supplied to up scale the quality. 3. Break even analysis In aligning the right strategies, a business should be aware of the devote even point in order to avoid losses. This is the point where the sales made are just enough to cover the costs associated with production. At this point, get on sales indicate profits for the business. In coming up with a break even analysis, the business owners should consider the fixed and variable costs, margins of contribution and the operating(a) leverages (Menon, 25). 4. Product life cycle analysis This is an assessment of environmental effects associated with a product from raw materials to en d of its usage. In the case at hand, this proficiency is useful in supporting the business strategy. It also acts as an input to the design of a product and also for declaring the product. It is an essential tool for business decision making in areas such as environmental comparisons to determine environmental value of product as well as methods of production and various choices, manufacturing and commercialised development. 5. SWOT Analysis This analysis aims at identifying the strengths, weaknesses, the opportunities as well as the threats found in a