Organizations in the Global Market-Free-Samples-Myassignmenthelp

Question: How do you build a Marketing Mix? Answer: Introduction In todays market the technological advancement has become very rapid and due to this the product life of the goods, especially the electronics goods are decreasing in a uniform manner. For an example, when an organization launch a type of mobile phone or tablet using a specific technology and after a few months that particular technology gets replaced by an advanced technology. This will surely reduce the product life of the phone or tablet manufactured previously, as those devices would lag behind as per the technologys advancements (Van der Velden, Kuusk and Khler 2015). This is the present situation where the management of the organizations should think about a particular strategy that can enhance the product life of the goods manufactured by them and if the strategies are successfully implemented then it would be good for all the organizations in the global market. Review It is a general concept that marketing mix consists of 4 Ps, but it is a matter of fact that these 4 Ps are the examples of marketing mix. As this 4P model has become very popular and well accepted, this model is used as one of the most used examples of marketing mix. To increase the product life of the goods the management of various organizations should stress on the 4 Cs instead and those are Customer costs, Customer wants, Communications and Customer conventions (Kulik, Usatova and Gerasimova 2014). This model in todays world is much more customer oriented and it can potentially be used to increase the product life of some goods. 4 C model benefits If the management of the organizations stress on the 4 C model they would be focusing on the specific requirements of the customers, the communication with the buyers, conventions and the costs. In this way the manufacturer companies would be sure that what products would be in general accepted in the market and specifically who can be the target customer for those products (Stark 2015). The management has to consider that technology is getting advanced very in a fast pace and to enhance the product life of those goods they have to manufacture those products in such a way so that, that requirement of that particular product does not get diminished at least for a year (Patil and Bach 2017). At the same time the management has to keep in mind the fact that, the products life would be the time when they will be able to launch another device or product that is updated and upgraded than the previous product according to the customer needs. The managements can stress on the cost factors al ong with the communicating factor. The organizations should deploy a customer service who would guide the buyers when needed so that the customers stay loyal towards that particular organization (Mintz and Currim 2013). Product life In todays market if an organization builds a good reputation, then it would be easier for them to retain the customer base no matter how other organizations are competing. On the other hand the management of these organizations has to be aware of the fact they do not lag behind technologically. For an example it can be said that Nokia had a monopoly in the market of mobile phones. With time organizations like Samsung and Apple came forward with their unique ideas and slowly replaced Nokia from the market previously owned by Nokia (Bouwman et al. 2014). Nokia got behind as they could not adapt the changes that were required at that point of time and the other organizations took that opportunity to replace Nokia. Same goes for Dell and HP. They were lagging behind technologically and Apple took that opportunity and came up with their brilliant idea of MAC book and gained huge popularity along with profitability (Meyer and Katz 2016). There is an individual who works for Nokia mobiles, he himself stated that they could not adapt the changes of the market and thus perished, but nowadays after the buyout of the organization, the new structure of the organization allowed them a freedom to do their work and that resulted in incorporating latest technologies in the devices and some changes in the marketing mix. The organization got inclined towards 4C model of marketing mix that is mentioned above, and then the graph of success has started to increase from the last financial year. Conclusion To conclude, it can be said that the managements of the organizations should be aware of the changes in the market and take the steps accordingly. Nowadays the market has become very unpredictable and that is why the managements will be needing to be extra cautioned and do the needful in order to sustain and increase their productivity and profitability. The managements of these concerning organizations should realize the fact by now that in this ever-changing scenario they should not bank on to something and predict the future, as the turn of events can prove to be really costly for those organizations References Bouwman, H., Carlsson, C., Carlsson, J., Nikou, S., Sell, A. and Walden, P., 2014. How Nokia failed to nail the Smartphone market. Kulik, A.M., Usatova, L.V. and Gerasimova, N.A. (2014) Research of marketing technology in a construction sector of the Belgorod region, World Applied Sciences Journal, 31 (4), pp.642-645 Meyer, D.E. and Katz, J.P., 2016. Analyzing the environmental impacts of laptop enclosures using screening-level life cycle assessment to support sustainable consumer electronics.Journal of Cleaner Production,112, pp.369-383. Mintz, O. and Currim, I.S., 2013. What drives managerial use of marketing and financial metrics and does metric use affect performance of marketing-mix activities?.Journal of Marketing,77(2), pp.17-40. Patil, D.D. and Bach, C., 2017. Marketing-Mix For Strategy Building.Marketing,4(4). Stark, J., 2015. Product lifecycle management. InProduct Lifecycle Management (Volume 1)(pp. 1-29). Springer International Publishing. Van der Velden, N.M., Kuusk, K. and Khler, A.R., 2015. Life cycle assessment and eco-design of smart textiles: The importance of material selection demonstrated through e-textile product redesign.Materials Design,84, pp.313-324.