Marketing Theories Applicable in Marketing Free Essay Example, 1000 words

The Bowman s Strategy Clock is a marketing strategy that marketers use in introducing a product in the market. The tool provides marketers with an exclusive view of their brand s performance thus comparing such with the performance of the other brands in the market. The consumer often has numerous choices whenever they want to purchase a product from the market, this implies that a marketer must position his brand strategically often comparing the placement of the other brands in order to determine a scoop (Ansoff, 1965). The cock provides three generic strategies that provide marketers with a competitive edge. Such are market segmentation, product differentiation, and cost leadership. The marketers of the mobile phones must, therefore, analyze the essence of the above factors thereby introducing a brand that enjoys an effective competitive edge. Among the basic elements of the marketing mix are price, place, product, promotion, and profit among others. The elements are features of the product that will influence the behavior and attitudes of the target market. The product in this context is the mobile phone; the phone should have particular features that will increase its preference in the market. We will write a custom essay sample on Marketing Theories Applicable in Marketing or any topic specifically for you Only $17.96 $11.86/pageorder now The company should diversify the product in order to increase the base of its target market diversification helps increase the target base by ensuring that the products befit the requirements of numerous target consumers (Curry, 1999). The quality of the product validates the price among other features that the consumers often consider before purchasing a product. A mobile phone is a necessary product in contemporary society. However, the marketers must incorporate appropriate features and specifications into the mobile phone in order to ensure that the phone addresses the needs of the target customers. Promotion refers to the process of increasing the visibility of any product. The marketers must employ appropriate and efficient media in promoting the product.