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Bsbmkg502 B Establish And Adjust The Marketing Mix

2327 words - 10 pages

Assessment Task 1
 BSBMKG502B Establish and adjust the marketing mix
1. Introduction! The Braaap organisation is a motorcycle manufacturing company driven by a vision of making motorcycling more enjoyable and more accessible. Braaap’s initial vision was to create “WorldClass” motorcycles that are high quality, unique and affordable. Braaap is an emerging company amongst an industry dominated by a few well-established brands.! This report will examine the products and services offered by Braaap, the key characteristics of the company’s operating system, their significance to the market, their pricing policy, pricing variables and their affect on demand. This report will also look into ...view middle of the document...

Braaap’s design philosophy is to provide comfort and support for adults along with ease of movement. Braaap designs bikes compatible for !both beginners and motoring enthusiasts whilst also providing bikes suitable for kids to learn on. They also offer additional accessories including fashionable and protective clothing and other bike accessories e.g. stickers and other add-ons.!

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3a. Pricing Policies! Braaap uses three main pricing policies/strategies. These include product line, product bundling and market skimming. They also offer a variety of flexible payment plans to suit customers.! One of the main pricing strategies that Braaap uses is product line, which is setting price steps between product line items. Using high-low pricing is an effective technique when it comes to attacking the premium motorcycle market. This strategy offers Braaap the same or higher price than their competitors.! Another common strategy also used by Braaap is product bundling. Product bundling refers to when customers are offered a deal or discount when they make a larger purchase rather than buying individual products.! Braaap has also adopted the market skimming strategy. This is when prices are initially set higher to “skim” revenue layer by layer from the market. Braaap is able to utilise this strategy because their brand image, quality and reputation are able to justify the high price.! Braaap offers a variety of payment features and plans to suit customers needs. These features include $0 upfront payment, unlimited lay-by, pay as you go, applications for finance assistance and also the ability to pay upfront if they wish. They also offer rental options.!

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3b. Pricing Variables! Braaap have excelled in the motorcycle manufacturing industry by utilising the benefits to their business and market position that are associated with pricing variables. Some variables in use include discount percentages, competitive ownership for customers, leasing arrangements, residual value of their product and the recognisability and psychological elements of advertising.!

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4a. Promotional Methods! Promotion as a tool in the marketing mix enables the company to have an influence over purchasing behaviour. Promotion when combined with advertising and personal selling enhancing the likelihood of succeeding in market share. Braaap uses sponsorship as a promotional tool and because of the quality of their products they have been associated with many different motorcycling championships around the world. Promoting their brand in such influential tournaments and competitions are extremely likely to attract people from their intended target market.! Braaap has also developed a program called “Learn to Ride”, which is a program that gives people the opportunity to experience and test the products and choose the right one for them. They are given professional advice on what to equipment to wear, how to look after their motorcycle and most importantly how to ride...

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