is defined in basic terms as availing the right product to the target customers
at affordable prices and at the right place in a timely manner (Richter, 2012).
Therefore, marketing is a superb way of guaranteeing that the targets customers
will get affordable, right products at the right place (Shankar and Carpenter, 2012).
The 4P marketing strategy is a model that enhances the components of an
entity’s marketing mix, the way in which the firm takes a new product to the
market. The 4Ps characterizes the marketing choices such as place, price,
product, and promotion to ensure its offering meets a specific client demand or
to Shankar and Carpenter (2012), the
4P marketing strategy helps marketing planning and execution to meet the
marketing objectives of the company by providing its target market with value. Schwindt (2014)
illustrates that successful launching of new products
requires that the organization establishes two-way communication with
customers, making the product as convenient as possible to customers; making
known the total cost of disposing of, acquiring, and using the product; and
providing value or solutions to the customer’s problems. This paper develops
the marketing strategy for IngeniousFridge, a new brand still to be launched.
IngeniousFridge is connected via smartphone App with Amazon Fresh. The paper presents the place/distribution strategy
and promotion/communication strategy for Germany.
place element of the marketing mix is the way a company provides the product to
the end consumers. According to Shankar and Carpenter (2012), distribution
refers to a key component of place element as it evaluates the channels that
are most suited to the item. The rest of the product strategy is complemented
by the way the end users access the product. Place element of the marketing mix
presents where the buyers will look for the company’s product. Also, Shankar and Carpenter
(2012) argue that it is the activities that make the
company’s products available to the end consumers. The marketing tools of place
element are transportation, channels, locations, coverage, logistics,
inventory, and assortments among others.
partnership between IngeniousFridge and Amazon fresh will ensure its presence
through a wide variety of channels in the market. The product will be offered
in the German market working on the channel marketing concept with three
segments. The first segment will be sales and service dealers, the second
segment will be modern retail, and the final segment will be distributors (Schwindt, 2014). The sales and service dealers will handle key
accounts for IngeniousFridge in Germany as they are involved in corporate
sales. In addition, the dealers will open exclusive IngeniousFridge showrooms
that are conveniently located close to places with high traffic such as
shopping malls and subways to attract customers (Richter, 2012).
The modern retail segment will include larger retailers such as Edeka, Rewe,
Aldi and Lekkerland present in the modern electronic retail chain. In addition,
Amazon which an online
store presents in
Germany will be used in this segment. IngeniousFridge being a branded
product, the retailers will keep IngeniousFridge as the primary product or as
an alternative product for the customers (Schwindt, 2014).
with regards to the distribution network segment, IngeniousFridge will have
multiple distributors in several German cities through whom the IngeniousFridge
will be distributed throughout a territory. In Germany, IngeniousFridge will
have its own distributors such as Business Development Germany and Arvigor
Trading & Co. the distributors will be given a huge investment in IngeniousFridge
because both benefit from the sale of IngeniousFridge. Therefore, the distributors will buy
IngeniousFridge and in then sell them forward to the retailers (Schwindt, 2014).
the other hand, the places of distribution for IngeniousFridge will be through
the local stores as the main strategy of the company. In addition, Schwindt (2014) posits
that to take into consideration the passage
of time resulting in the advent of more sophisticated and efficient e-commerce,
IngeniousFridge will be sold through the company’s own site as well as through
other e-commerce platforms. The company’s own site will ensure IngeniousFridge
is available all throughout the German market as it provides a great way of
showcasing IngeniousFridge. In addition,
the company will also tie with other company outlets within Germany to increase
the coverage thereby attracting more potential customers. Ensuring that
IngeniousFridge is on display in many locations will ensure an increased sales
volume and market share through more purchases (Lamb et al, 2009).
to Richter (2012), to further increase
market presence, IngeniousFridge will have websites and App as well as
IngeniousFridge’s mobile App for the customers to be able to place their orders
comfortably wherever they are. Moreover, the firm’s mobile App for Android OS
and iOS will allow customers to claim special deals and find the locations of
the company’s stores. Such a marketing mix element will support the intensive
growth strategies of IngeniousFridge, especially market penetration (Lamb et al, 2009).
company will take a holistic approach to distribution by taking advantage of
different distribution channels (Lamb et al, 2009).
Adopting an aggressive strategy in reaching out to the premium end users using
channels such as IngeniousFridge stores, trade partners (authorized retailers),
and online IngeniousFridge Store and App stores. The IngeniousFridge stores
will be the most visible places and online IngeniousFridge store and App store
will be highly visible. In addition, using fulfillment services like Amazon.com
that sell IngeniousFridge online through third parties will increase market
presence. Therefore, the marketing mix of IngeniousFridge is comprehensive as
it exploits different types of non-online and online distribution channels. The
store layouts for IngeniousFridge are open and will have a lot of floor space
for the end users to browse around and look at IngeniousFridges (Richter, 2012).
Also, a key factor in the IngeniousFridge stores is helpful staff.
IngeniousFridge is quite advanced and may not work as the standard
refrigerators so customers need help in regards to having an excellent
understanding of the product.
to Percy and Rosenbaum-Elliott (2012), promotion
element of the marketing mix involves all marketing strategies and techniques
used to communicate the benefits and features of the product and to persuade
potential customers to purchase IngeniousFridge. The techniques include public
relations, sales promotion, special offers, advertising, and personal selling.
The communication strategy provides a two-way communication between customers
and company making a product (Baker and Saren, 2010).
The adopted or implemented marketing channel needs to be suitable for
IngeniousFridge, the item’s price and the consumers IngeniousFridge is being
will use multiple forms of promotions to persuade the customers to make
purchases. According to Lamb et al (2009), a
company like IngeniousFridge should believe in pulling the end consumers to
themselves using advertisements as well as the strong tactics in pushing the
product to the end users through sales promotions. IngeniousFridge will use a
wide variety of marketing vehicles across the year covering both non-festive
and festive seasons (Percy and Rosenbaum-Elliott, 2012).
Conversely, IngeniousFridge will give offers and discounts to the trade
partners so that they can sell IngeniousFridge above the competition. A strategy of this nature will ensure that
IngeniousFridge brand is on the rise as both push and pull strategies are
working simultaneously in the company.
postulates that effective promotion of
IngeniousFridge will attract potential customers using different mediums.
Firstly, IngeniousFridge’s advertisements will be the most notable among the
promotional tactics. IngeniousFridge will be promoted using radio, TV, online
media and print media for the advertisements. IngeniousFridge will be promoted
using sales promotions to draw more customers to the stores by offering
discount coupons (Percy and Rosenbaum-Elliott, 2012).
The company will use public relations in the form of carefully implemented
press releases, IngeniousFridge Event, and exclusive interviews maximize positive
publicity. Also, the company will establish IngeniousFridge House Charities to
boost the value of the corporate brand. On the other hand, IngeniousFridge will
be promoted using direct selling occasionally such as community or local
government events. However, advertising will be the main approach to
IngeniousFridge’s promotion. IngeniousFridge will focus on aggressive
advertising using different channels to try and focus on how different
IngeniousFridge is from the competitors. The advertisements will be simple and
get connected to the people’s heart. They will be to the point and will have
only relevant information (Baker and Saren, 2010).
The advertisement will come during the product launch and will run for a long
period of time.
German radio stations to be used are WDR 1LIVE, SWR3, BBC World Service, and
Radio Paloma. However, the TV channels to be used are ZDF, ARD Dritte, and RTL
because they have enormous market share and viewership. The main belief of the
company is to have direct communication with the customers and therefore a lot
of advertisement all throughout the year through a wide variety of sources such
as internet, television, magazines, radio, and newspapers will be used. Baker and Saren (2010)
state that the promotional strategy focuses on
strong brand awareness through available channels. The use of company stores
and IngeniousFridge Stores as well as through technology news sites ensure
IngeniousFridge is always in the mind of the potential end consumers thus
making them consider the company in case they want to buy the product. The use
of personal selling in the form of employees within IngeniousFridge Stores
providing product-specific information helps in convincing store visitors to
make purchases (Kimura, 2017).
marketing mix help understands what a product offers and the planning and
execution of a fruitful product offering. Marketing strategy is the ingredients
combining to capture and promote unique selling points of a product or brand.
While offering a new product, a company needs to produce a desired response
from the target market to ensure the viability of the business venture. The
company needs to influence the demand for its product to ensure its continued
existence. To ensure the success of the company in attracting and retaining
customers, the business will ensure that the product will be made as convenient
to purchase as possible by the customers.
Marketing is about availing the right products to the customers making
it critical that the firm evaluates the ideal locations to convert potential
clients into actual clients. In addition, IngeniousFridge’s public relation
activities will help promote the product to the target market. Advertising IngeniousFridge ensure that more
customers are aware of the product thus increasing their sales.