Marketing Mix

BUSINESS ORGANIZASION GROUP ASSIGNMENT

MD AHASAN HABIB Marketing mix Marketing mix is the combination of elements that you will use to market your product. There are four elements: Product, Place, Price and Promotion. They are called the four Ps of the marketing mix.

PRODUCT A good product makes its marketing by itself because it gives benefits to the customer. We can expect that you have right now a clear idea about the benefits your product can offer. Suppose now that the competitors products offer the same benefits, same quality, and same price. You have then to differentiate your product with design, features, packaging, services, warranties, return and so on. In general, differentiation is mainly related to: The design: it can be a decisive advantage but it changes with fads. For example, a fun board must offer a good and fashionable design adapted to young people. The packaging: It must provide a better appearance and a convenient use. In food business, products often differ only by packaging. The safety: It does not concern fun board but it matters very much for products used by kids. The "green": A friendly product to environment gets an advantage among some segments. In business to business and for expensive items, the

best mean of differentiation are warranties, return policy, maintenance service, time payments and financial and insurance services linked tothe product. PRICE Pricing is selecting the best price at which to sell a product. Prices must support variety of costs Prices must be competitive Low and high price strategies can be effective in different situations PLACE Place is the part of marketing mix concerned with getting products from producers to consumers. PROMOTION Promotion is the techniques for communicating information about products. Four promotion tools:  Advertising  Personal selling  Sales promotions  Public relations COMPANY ROLEX HISTORY  Year 1881 = Hans Wilsdorf, the founder of Rolex is born in Bavaria, Germany  Year 1905 = Hans Wilsdorf and Alfred Davis form Wilsdorf & Davis in Hatton Garden, England. Importing Swiss Movements, sources dials and manufactures watches and watchcases.  Year 1908 = The Rolex Watch Co. is registered as a company.  Year 1910 = A Rolex becomes the 1st wristwatch to obtain First Class Chronometer Certificate from the Horology Society,Switzerland.  Year 1915 = The company names is officially changed from Wilsdorf & Davis to The Rolex Watch Co.  Year 1925 = The Rolex crown logo is registered as trademark..  Year 1931 = Rolex patents an automatic rotary winding mechanism, the Oyster Perpetual.  Year 1945 =The Oyster Perpetual Datejust is launched, the 1st automatic, waterproof Chronometer with the date visible through window in the dial.  Year 1952 = The 1st explorer prototype, model 6098 is launched. In May 1953 Sir John Hunts Mount  Everest team are issued with prototype Explorers.  Year 1953 = A large test watch known as the Deep Sea Special is attached to the exterior of Prof. Auguste Piccard's bathyscaphe, FNRS-2 which reaches a depth of 3131.80 meters. The Watch remains Waterproof.  Year 1954 = The Milgauss & GMT-Master are introduced.  Year 1960 = The 1st Cosmograph is launched model 6239.  Yearn1966 = The Seadweller 1665 is introduced, with a helium Gas escape valve making it the first commercially available watch for use by saturation divers.  By 1986 half of all Swiss certified chronometers produced have been manufactured by Rolex..  Today Rolex is one of the most sold brands in the world & they have captivated a large share in the watch market in the world.

PRODUCT

Rolex is a Swiss manufacturer of wristwatches and accessories. Rolex watches are considered status symbols although the very are described as "reverse statussymbols" among the very wealthy because of their mass appeal and their relatively low price by the standards of the rich.Rolex is the largest single luxury watch brand by far, producing about 2000 watches per day, with estimated revenues of around US $ 3 billion Business Week magazine ranks Rolex #71 on its 2007 annual list of the 100 most important global brands, top among all watchmakers. PROMOTION In summer holidays special for new cooperating customers, who ever purchases 21 to 40 watches, will be returned $60 totally as discount; who ever purchases 41 to 60 watches, will be returned $170 totally as discount; whoever purchases more than 61 watches, will be returned totally $400 as discount. The name of Rolex is recognized around the world. It has become an icon of beauty, quality, accuracy, style, and taste. While there are other fine manufacturers of timepieces, none has reached this pinnacle of public respect and acclaim. PLACES Authorized dealers of Rolex will be found in the Following places:  Bangkok - Thailand  Beijing – China  Hanoi – Vietnam  Ho Chi Minh City – Vietnam  Jakarta – Indonesia

 Krasnoyarsk – Russia  Kuala Lumpur – Malaysia  Manila – Philippines  Perth – Australia  Phnom Penh – Cambodia  Pyongyang – North Korea  Seoul – South Korea  Shanghai – China  Singapore – Singapore  Taipei – Taiwan  Thanh Pho – Vietnam  Tokyo – Japan  Ulaanbaatar – Mongolia  These are examples of some places and Roles is authorised world wide & in almost all the countries, Rolex is found PRICE Rolex is one of the most expensive watch in theworld.The consumer of Rolex is high officials & rich People. The price range of Rolex is given below:  $ 200 - $ 10,000 REERENCES http://www.rolex.com http://www.wikipediaanswers.com http:// www.abouttime.com/abouttime/rolex