Marketing for Green Kinetic Ltd- myassignmenthelp.com

Question: Discuss about theMarketing for Green Kinetic Ltd. Answer: Marketing Mix To promote the device in the market, Green Kinetic Ltd needs to choose from the important factors from the 7 Ps marketing mix (Hollensen 2015). Once the company will be able to narrow down in any two factors, it will be able to get an idea about the exact customers who will be buying the device and the way it will help the organization to make proper business from the device (Babin and Zikmund 2015). The 7 Ps marketing mix that are available to Green Kinetic Ltd are: Product Promotion Price Place People Process Physical evidence Green Kinetic Ltd already have competitors present in the market and hence, they have to choose the best out of the 7 Ps marketing mix so that it will be able to stand out in the crowd. Green Kinetic Ltd will have to make the customers aware of the features of the device that makes them stand out than the other companies in the market (Sheth and Sisodia 2015). To make the people aware of the specialty of the company, they need to give special attention on the product (Lusch and Vargo 2014). The best way to attract the customers from the rival companies will be through the price (De Mooij 2013). Thus, the product and the price are the two things that Green Kinetic Ltd should concentrate on to stand out in the crowd. The audience should be made aware of the quality of the products that it do not require any extra energy and can generate energy of its own (Czinkota and Ronkainen 2013). The movement of the user will help them to generate electricity. The products should be able to attract the user as they have to make one time payment. The initial target for the products should be the people who are interested in physical fitness. The more the physical movements, the more electricity will the device will produce. However, the best part of the products is that it might not need that much movement that is needed by similar of device made by other companies. They have multiple layers chemical system that helps the device to produce more energy even with less movement. Thus, Green Kinetic Ltd should not keep the device targeted limited to targeting those people who make more movement, it should also be there for those people who might walk and may nor run or jump. The battery is made up of latest techn ology that it gets charged up easily with less energy. The product will help in generating electricity without any extra cost. In addition to this, the device will help the people in losing weight. If they want to generate more electricity, they can make more physical movements. It will help them staying fit and also help them in losing more energy. Thus, it can be cost cutting from more than one aspect. The will be able to save on the medical bill as well as able to generate energy free of cost. Pricing is another important factor that should be kept in mind while marketing any product (Czinkota and Ronkainen 2013). The customers have tendency to get attracted to those products that are priced less (Hartley and Claycomb 2013). However, the customers might not welcome huge price difference. The prices should be a little less than the price of the products of other competitors (Armstrong et al. 2014). Huge amount of difference will urge the customers to rethink on whether they should by the products of Green Kinetic Ltd. In addition to this, the value added services to the customers should be more than the ones provided by the competitors (Hollensen 2015). For example, if the competitors are giving the guarantee for the products for one year, Green Kinetic Ltd should give the guarantee for two years. The small differences will help Green Kinetic Ltd to get more customers than the competitors. The value added services like free servicing of the products should also be done more than the number of times dome by the competitors (Babin and Zikmund 2015). In this way, the customers will also get attracted to the products. The price that they will pay will also be for one time for buying the products. However, the price of the battery should cost less than the battery required for other devices. Green Kinetic Ltd should highlight the fact that the device will also help in keeping the doctors away. If they exercise more, the device will gain more energy and will be able to generate more electricity. Once the customers will come to know about the multiple advantages of the products, they will get attracted to the products (Sheth and Sisodia 2015). When the people are given something extra than they expect, the value of the products. Conclusions with Implications for the Company The products that is being introduced by Green Kinetic Ltd is revolution in the field of marketing. In a time, when the whole world in steeped in issues to save electricity and finding out ways of carrying out a business sustainably, Green Kinetic Ltd seem to have solved all issues. The product will not only generate extra energy but will also help the people to say fit. Even though, they have competitors in the market, yet their product can outnumber the products of the competitors. People who are not able to do much physical movement can also make use of the products as the high technology battery of Green Kinetic Ltd will generate electivity even in small movements. They also have to choose the right marketing mix factors to attract the customers. They should promote the product and the way it is better than the those of the competitors. It should also price the products intelligently. They should keep the cost lesser than the competitors but not very less. The value added service s should also be more than the ones given by the customers. References Armstrong, G., Adam, S., Denize, S. and Kotler, P., 2014.Principles of marketing. Pearson Australia. Babin, B.J. and Zikmund, W.G., 2015.Exploring marketing research. Cengage Learning. Czinkota, M.R. and Ronkainen, I.A., 2013.International marketing. Cengage Learning. De Mooij, M., 2013.Global marketing and advertising: Understanding cultural paradoxes. Sage Publications. Hartley, R.F. and Claycomb, C., 2013.Marketing mistakes and successes. Wiley. Hollensen, S., 2015.Marketing management: A relationship approach. Pearson Education. Lusch, R.F. and Vargo, S.L., 2014.The service-dominant logic of marketing: Dialog, debate, and directions. Routledge. Sheth, J.N. and Sisodia, R.S., 2015.Does marketing need reform?: Fresh perspectives on the future. Routledge.