Consumers have a choice and for this reason promotion

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Consumers have a choice, and for this reason promotion is important in building brand awareness. Before the #metoo rights movement of late, there was ‘me too’ in the marketplace—in terms of product marketing. There are numerous examples of secondary (challenger) brands that have attempted to unseat category leaders, sometimes successful and other times not so much. Companies like Apple and Coca-Cola have been subject to me too products, yet promotional
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RETAIL MIX MODEL RELATIONSHIPS 6 strategies are what keep them out front. Apple in particular has mastered the art of a good product announcement. The billion dollar+ product company’s success comes from its unique ability to build consumer excitement (Bell, 2011.) Steve Jobs was a master at this. When you combine the Apple team's marketing genius with Jobs' masterful presentation style and infectious enthusiasm, it's a recipe for booming success (Bell, 2011). A challenger brand is a market disruptor, not just a company wanting to unseat a dominant brand on the shelves of retail operations. Today’s ever changing consumer marketplace is driven by social network participation with companies like Uber, and Airbnb that are throwing traditional industry leaders against the ropes. By introducing completely different concepts to what has been no-brainer decisions like hailing a cab, or booking a hotel room, these new offerings are causing a real disturbance in the marketplace. The promotional strategies of these challenger companies is unpaid customer advocacy. Users will post about an experience to their network—whether good or bad, therefore, it is in the best interest of the company to perform above the competition. Conclusion As noted in the beginning and highlighted throughout this report, large, global retailers should incorporate a pragmatic mix model for achieving marketing success well beyond the point of sale. While pricing is one of the most powerful and effective strategic tools in the model, equal thought must be put into how the consumer will choose the product, and become dominant on the shelf alongside competition by way of distribution. A solid long-term vision, not just a one-off, short term growth strategy will prove successful when global retailers incorporate distribution, product, price, and promotion strategies. The retailer marketing mix should never be introduced in lieu of marketing judgment. A comprehensive mix containing all four strategies will augment existing talent to meet unmet customer needs— not replace headcount. Consumers have market access to global products, thus, a marketing mix standardization is becoming more commonplace .
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RETAIL MIX MODEL RELATIONSHIPS 7 References: About Arrow. (n.d.). Retrieved from Bell, A. (2011). The Power Of Steve Jobs. Retrieved from - edge/0111/the-power-of-steve-jobs.aspx Berman, B., & Evans, J. (2013). Retail Management (12th ed.). Upper Saddle River, N.J: Prentice Hall.
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