Marketing Strategies

The product I chosen is the Violin that is available in the USA. The country I choose to market my violins is Germany. Why choose Germany to market violins? Because Germany has a powerful economy, has a long period of growth rate, aging population is growing bigger every day, the restructuring and growing capital markets are setting the foundations that help meet long term challenges.

(The world fact book, 2007)

The marketing mix has four P’s for the segment.

• Product: is the basic brand name that you need to develop the product. Brand name includes design, packaging, services, quality and warranties.

• Price: is the most difficult decision to make in developing the products revenue.

• Place/distribution: covers the organized network that moves goods and services from the producer to the consumer.

• Promotion: includes all of the companies’ activities to communicate and promote the product. These include selling, public relations and communication.

(Answers, 2007)

Competitive advantage is the position a firm occupies in competitive landscape.

Michael Porter posits that competitive advantage, sustainable or not exists when a company makes economic rents or earnings that exceed their costs, including the capital costs. This means that the normal competitive pressures are not able to drive down the firm’s earnings where they cover all costs and provided just minimum capital invested.

Most forms of competitive advantage cannot keep going for the length of time due to the promise of economic rents; this drives the competitors to duplicate the advantage held by one firm.

(Answers, 2007)

The products have lasting distinctiveness from the competitor’s product:

• The product has low price elasticity

• The product has low cross elasticity

• The demand of the product will rise

The products have perishable distinctiveness from the competitor’s product and features.

• The product has high price elasticity

• The product has some cross elasticity

• Expectation is in demand that the product will rise

(Answers, 2007)

The violin’s prices would depend on the size, type, height, weight and style. The violin that I choose to show for an example is a professional Genova 2 violin, for ages 12 to adult. The price of the violin is $1,398.00 (Varnished) and $998.00 (not varnished). Other pieces for the violin will cost extra. The bow, neck, strings, tail pieces, case, stand, and shoulder rests. If you would like a cheaper violin, do not purchase the antique varnished Genova 2 violin.

The media strategy is alarmed with how messages are delivered to consumers. By identifying the characteristics the target should receive messages defining the use for delivering the messages. Strategies revolve around integrated marketing communication approach where the channels of media are used:

• Advertising

• Public relations

• Events

• Direct response media

Among these concepts used of entertainment educational programming are embedded into programs to change the attitudes and behaviors of the audiences area’s:

• Family planning

• Literacy

• Nutrition

This is interesting to watch how the audience adopted the media strategy over a planned concept. Advertising creates a plan that is used to plan various channels to the media in a integrated manner.

(Answers, 2007)

The instrument is often overlooked due to the effect of commissions and can be confused by values assigned in appraisals. Insurance valuations typically indicate replacement price for comparable instruments from a major dealer, not proceeds of a sale event and the difference between those numbers is at least 20% or much more. Things to consider:

• Low consumer confidence is a obstacle

• Conflict between price objectives is a obstacle

• Market access is difficult to achieve

• Instruments require restoration