Marketing Basics

Analytical Essay # 116936

Business > Industries
Business > Marketing

Marketing Basics

Examines basic marketing principles including the "four Ps" as applied to the office furniture industry.

2,255 words () | 5 sources | APA | 2009 United States

Paper Summary:

This paper explains that the target market for office furniture is high-end buyers because they understand the ergonomics and technology built into the products and its fine design craftsmanship. Next, the author reviews the basic elements of product, price, place and promotion. The paper indicates that the best marketing strategy is to promote this product in specialty distribution channels to address the needs of the target market.

Table of Content:
Marketing Section
Target Market
Product
Price
Place
Promotion
Marketing Strategy

From the Paper:

"The pricing strategy focuses on maintaining an understanding of the high-end buyer's purchasing trends. Many of the customers indicated in the target market enjoy shopping from the comfort of their own home or office so competitors listed in sales catalogs are closely monitored to ensure that our prices remain competitive in the market. Generally when customers are perusing a catalog of this sort, price is a major issue since quality is not as apparent as with in-store purchases."

Sample of Sources Used:

Farrelly, F. 2005, 'Lining up with heroes: Sponsorship in the marketing mix can give a business a competitive advantage', Monash Business Review, vol. 1, no. 2, pp. 42-45.
Hall, H. 2006, 'Nonprofit-marketing experts outline hot trends, discuss challenges', Chronicle of Philanthropy, vol. 18, no. 19.
Ogden-Barnes, S. 2006, 'Crossing the multi-channel: It used to be so simple. Buy products. Advertise products in newspapers. Display products in stores. Sell products from stores. How things have changed', Monash Business Review, vol. 2, no. 2, pp. 6-7.
Sriram, S., Chintagunta, P. K., & Neelamegham, R. 2006, 'Effects of brand preference, product attributes, and marketing mix variables in technology product markets', Marketing Science, vol. 25, no. 5, pp. 440-456.
Sturm, Jr., A. C. 2006, 'A CFO's guide to the marketing galaxy: If you are frustrated with marketing budgets that are based on cost, try starting with a strategic perspective', Healthcare Financial Management, vol. 60, no. 5, pp. 66-70.