bath 3 assignments

MY ORIGINAL POST

Marketing Channels

Promotion, Pricing and Distribution Channels

The Impact of Competitor Factors on Marketing Strategies of the JGJ Corporation

Marketing strategy formulation is often viewed as a corporation internal skills and resources and its external environment (Classen &Friedli,2019). The marketing strategy of the JGJ corporation is a functional dynamic process that incorporates various external environmental factors and their various competitive actions. As such, specific competitors marketing mix elements have an immense influence on the firm’s performance as compared to the internal marketing strategies. Additionally, understanding the external factors enables the business corporation to make informed decisions concerning the various business activities.

THE JGJ corporation deals in robots that are well known for high demand recently dur to their increased application especially in homes. The current competitors include close to 10 companies such as Amazon, Facebook, Boston dynamics and many others in which the firm needs to closely monitor in order to determine various ways of improving their business activities ("10 robotics companies to watch in 2019," 2019).

Analysis of current pricing models in the market

The diagram below illustrates the expected growth rate in the next couple of years:

 

The changes in the pricing strategies of the business corporation mainly influenced by the quality of products that the company deals in; the promotional strategies being used in the company and the promotional tactics that are employed (McDonald,2016). An immense decision on the pricing for a particular company are mainly influenced by their competitors and the level in which they market their products. As such, the JGJ corporation has to look into the following factors that may influence their pricing decision such as the government regulations in the country, the market demand and the level of competition from other related businesses. As such, the rise in government funding of robots such as the assessive robots leads to an increased pricing of the robots thus expected growth in the company.

Analysis of current Distribution models in the market

The distribution strategy of the JGJ Inc details the unique methodology that the company uses in order to comprehend the consumers preferences in relation to their business objectives since a few clients might prefer internet purchasing while others might prefer direct purchasing (McDonald,2016). The company faces immense competition from other companies such as amazon which mainly leverages the company’s’ vast fulfillment network by the numerous fulfillments by amazon, that also requires the sellers to only ship their products to amazon fulfillment centers for the firm to not only ship products but also offer consumer support (Wayne, 2017). By contrast. The JGJ company distributes its products through both internet purchasing and direct buying from the company.

Analysis of current promotional models in the market

The promotional techniques utilized by the external competitors, such as amazon, to the JGJ Inc. also impact their ways of promoting the business. Amazon utilizes various marketing strategies such as coming up with advertisement techniques which aid in marketing the wide range of products produced by them (Wayne, 2017). The companies mainly incorporate the purchasing power thus providing influence and rivalry to the products produced by the JGJ company. The robots are advantageous because they have the ability to offer relevant assistance which is needed at home thus enhancing the economic development of a particular country.

Recommended Pricing Strategy for JGJ Inc.

Development of a pricing strategy for the JGJ Inc entails the comprehending of the consumers persona concerning robots, surveying and talking to the consumers, analyzing the relevant data concerning the external competitors then later deciding on the packages and prices for the products and then coming up with a creative and a profitable focused culture. The pricing strategy that I would employ for the JGJ offering is the economic pricing strategy whereby the lower prices of the products are assigned to goods with decreased production costs. The goods are lowly priced thus the firm gains revenue based on the number of consumers who buy the products, an idea that would lead to increased profits in the corporation. Additionally, the business industry would also have to come up with the overestimating the all-out expense of the products, including the employee’s installments in order to fabricate the goods with the aim of determining whether the designed benefits are vital in the creation of robots. By contrast, the amazon pricing strategy is mainly repricing whereby the company tends to fluctuate its prices depending on the prices of their competitors.

 

Recommended Promotional Plan JGJ Inc

Developing a promotional plan for the JGJ Inc entails identification of the potential consumers, coming up with a promotional budget, selecting the promotional components and comprehending the use of various promotional components. The joint promotion strategy is essential for the JGJ company since when the firm has numerous brands or partners with other companies that deal in similar products, the firm can utilize the joint sales promotion strategy, a factor that leads to increased sales thus boosting the company’s’ profits. The joint promotional strategies enable the business people to welcome and join some of their competing business firms thus making it possible for them to either have some of their customers or adapt some of their promotional strategies, an idea that leads to increased business profits thus leading to business success.

Recommended Distribution Channels for JGJ Inc.

The recommended distribution channel for the JGJ company entails its utilization of online sales. The firm will mainly sell its brands through contract distributors and various ecommerce platforms in delivering goods to the customers. The distribution strategy will be effective as a result of numerous dynamic changes in the online marketing platform thus giving the corporation access to potential consumers in the target market. Additionally, the strategy is meant to avoid wholesalers in the market who may to some extent engage the local retailers in the business activities. The distribution channel will also aid the company to effectively compete against its entrenched competitors thus increasing the profits in the corporation.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

References

10 robotics companies to watch in 2019. (2019, January 9). The Robot Report.  https://www.therobotreport.com/robotics-companies-to-watch-in-2019/

Classen, M., & Friedli, T. (2019). Value-Based Marketing and Sales of Industrial Services: A systematic literature review in the age of digital technologies. Procedia Cirp, 83, 1-7.

McDonald, M. (2016). Malcolm McDonald on marketing planning : Understanding marketing plans and strategy (2nd ed.). Philadelphia, PA: Kogan Page. Retrieved from  https://search.ebscohost.com/login.aspx?direct=true&AuthType=sso&db=nlebk&AN=1406073&site=ehost-live&custid=s8876267

Wayne, M. L. (2017). Netflix, Amazon, and branded television content in subscription video on-demand portals. Media, Culture & Society, 40(5), 725-741.  https://doi.org/10.1177/0163443717736118

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