Marketing Mix
The management of Theranos understands that understanding the process of marketing entails taking the right product, having it in the right place, selling at the right price and promoting it well. Theranos marketing mix is discussed in detail below;
Product
Theranos offers a broad range of products in its online platforms such as men and women shoes, dresses, suits, kid's clothes and all other types of clothes used by the young generation. However, the company is still expanding and hopes to incorporate household items, electronics and appliances and much more through its online platform.
Place
Theranos is mainly an online business organization which targets to deliver goods and services to any place in the country that is accessible. The company uses its official e-commerce websites as first places for transacting with customers. Theranos also aims to have some distribution centres around the country in the main towns so as to make it quick to honor orders from customers. Such distribution centers will also function as locations where customers can evaluate their products before purchasing them.
Promotion
The promotion segment involves the strategies and tactics which the company intends to use as a way of reaching its target market. Theranos aims to make use of some promotional strategies to persuade its customers to visit its websites and purchase products. Some of the promotional strategies and tactics utilized by the company include advertising, sales promotions, public relations and direct marketing.
Price
The marketing mix of the company must focus on the price levels and pricing strategies for successful marketing planning. Theranos uses the strategy of low prices as a strategy of attracting customers to its business and the products it offers. Some of the pricing strategies which the company uses include price discrimination strategy, market-oriented strategy and value-based pricing strategy.
