Marketing Essay Example | Topics and Well Written Essays - 2250 words

Marketing - Essay Example The product reflects the efforts of the firm to respond to the needs of all consumers in terms of hair care. The position and the prospects of the firm in the Australian market are explored through the marketing mix model, which involves in the examination of the product, pricing, distribution and promotion, as elements of the marketing strategy used for the promotion of the product in the above market. 1.1 Current Product When referring to product as an element of the marketing mix model, a series of issues have to be mentioned: apart from the product, as a physical unit, its appearance and the brand name are also important in order to decide the position of the product in its market (Lamb et al. 2008). From a similar point of view, it could be stated that the term ‘product’ as used in the marketing mix model encompasses the ‘goods-and-services combination the company offers to the target market’ (Kotler et al. 2010, 76). ... The product is part of a series of products aiming to help consumers who have frizzy hair; these products (hairspray, mousse and creme) are part of the firm’s ‘Straight & Glossy Styling range’ (Schwarzkopf, 2011). The package of the product is well designed highlighting the key advantages of the product. Schwarzkopf & Henkel is a well-known firm in the global cosmetic industry. The firm’s products are available in the markets of 125 countries worldwide (Schwarzkopf, 2011). The brand name of the firm is quite known, representing products of high quality. In this context, the specific product has many chances to succeed in the Australian market, a market which is strongly related to the specific company – in accordance with the corporate website ‘Schwarzkopf was first available in Australia in 1961’ (Schwarzkopf, 2011). Consumers in Australia are expected to prefer this product from the ones of the competitors because of its brand name-whi ch is synonymous with quality. 1.2 Current Pricing The price of the product is of critical importance for its success within a particular market. In accordance with Baker et al. (2007) the role of price in the success of a product is not standardized. Because of the increased competition in terms of pricing, the prices of products can present a high variation. Moreover, firms worldwide are likely to set different criteria for competing their rivals, for example, the quality of the product or the strategies used for its promotion within the targeted market (Baker et al. 2007). On the other hand, the management of pricing of a product can have many aspects being related to the legal rules related to the particular industry or the