The Elements of Marketing Mix
H-E-B refers to Here Everything is Better. H-E-B is one of the largest food chains in the United States. The company is family business. The company opens its first supermarket in 1950s. In 2008 the company has more than 307 stores in Texas and Northern Mexico. Decision business makers have a wide variety of decision- making to choose from, depends on what the company needs and what work best for the company. The elements of the marketing mix, the development of the organization’s marketing strategy and tactics and how these elements are implemented plays an important role in the success of the organization.
Describe how each of the ...view middle of the document...
When the product or the service is new, putting it on sale will not help the company to sell it. Identifying the right price at the beginning is important to achieve the organization’s marketing strategy. After, identifying the place where the product or the service will be sold. The company must know its place, providing an expensive service or product in a poor neighborhood will not help the organization to achieve the development of the organization’s marketing strategy. Finally, promotion knowing how to reach customers is very important. The company must have a marketing plan. Management must have a method to get to its customers and show the importance of the product or the service. Letting consumers know about the product is very important because consumers will realize that they need the service or the product and they will buy it. After identifying the strategy plan, taking it to another level of detail tactics plays a major role. Common marketing tactics include advertising on TV, online, radio, and so on. The company must choose its tactic and must summarize what is it, why the company should use one not the other and also what to expect from this tactic. Finally the company must set a timeline for each tactic, and pick a well professional team to get it done.
Describe how each element is implemented, and Identify organization and the industry in which it exists.
There are many possible ways to satisfy the needs of target customers. H-E-B is a grocery store, and satisfying its customers is not an easy target. In order to satisfy its customers the company uses the four basics parts of marketing mix, which are product, place, promotion, and price. The company knows that the customer is not a part of marketing mix. The customer is the target of all marketing that the company is trying to do. First let’s have a look on the company’s product. H-E-B started its own brand in 2002. As 2012 the company’s most profit is from H-E-B brand. The company’s brand is high quality, and when it is available on the shelve 75% of customers prefer to buy it than buying major brand. H-E-B brand is affordable with high quality. People starts getting used to buy the brand not just because it is cheaper because they also trust H-E-B.
The company is smart by choosing the place when management decides to open a new location to the company. H-E-B is over Texas and Mexico. The company always prefer busy neighborhood, and this because people with average income and people who lives off the government trust the brand and prefer on any other brand. Profit margin is small for the company so they have to sell big to make profit otherwise the company will not grow. Achieving this target, place is very important. That is another reason H-E-B prefers busy areas.
H-E-B uses all kind of promotion; the...