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3.5 Additional elements of the extended marketing mix
Price
The pricing strategy of the Harley Davidson motorbikes has essentially been related to that of other Harley Davidson’s products where products are generally sold at high but competitive prices. This strategy ensures that the image and status of its motorbikes is upheld without bringing losses to the company (Sarangi, 2009, p. 106). The £3500 price tag of its motor bikes reflects the exclusivity of the product though it locks out quite a huge proportion of the market, which cannot afford the products.
Product
Product is the bundle of goods and/or services presented to the client to satisfy their needs or wants. A product is reflection of the image that the company wishes to portray to its clients. According to Hair (2007) a company should avail to its customers an exclusive quality product that draws more customers through its capacity to satisfy the needs of clients. Harley Davidson’s motorbikes are indubitably very unique bikes in terms of design, features, user interface and image (Harleydavidon, 2013). The motorbikes however lack wide product range than its rivals.
Place
Great product production and placing on it a matching price tag are not the only rations in marketing it. Product Distribution to cover the extensive target market is likewise vital if the company is to gain its desired share in a competitive edge like the automobile industry. Harley Davidson has a exceptional channel of distribution entailing its own Harley Davidson stores and selected redistributors dedicated in reaching the widespread market (Hair, 2007, p. 54).
Promotion
Product promotion entails all the actions undertaken to ensure that the clients is aware of the products being in the market and how it aims at satisfying their needs and wants. It entails sales promotion, personal selling, advertisements and public relations (Hutt, 2007, p. 77). Harley Davidson promotes sales of the motorbikes principally through advertisements which according to Sheehan, (2011) are a great avenue for integrating the anticipated message to the client.
4.1 Pricing Strategy
Considering that while most youthful people have good earnings, some of them will need motorbikes with low maintenance cost. Consequently the company will set off on a new journey to come up a brand of affordable but yet branded bikes, elegant enough to uphold Harley Davidson’s brand name (Hair, 2007, p. 88).
The aging generation has more wealth to their name, and will thus be able to preserve the current market price, despite the fact that they will be adjusted based on the needs of the users.
Place strategy
The older age bracket of Harley Davidson riders commonly resides in the more well off areas of the UK, and many of them have retired to leafy suburbs. The company will consequently strike deals with dealers to distribute the classier and more retro motorbikes around the suburb areas and the affluent areas of the UK. The younger generation, however, is mostly found in the cities within the country. The sports versions and stylish versions of Harley Davidson bikes will thus be distributed mainly in cities (Sarangi, 2009, p. 55).
Promotion
For the younger generations, loyalty programs that reward them with stylish Harley Davidson gear will be promoted towards them.
The older generation will receive programs dealing with rewards like healthy retirement benefits and lifetime membership to the Brand as well as insurance (Harleydavidson, 2013).
4.2 Marketing to business and marketing to consumers
When Harley Davidson is marketing to other businesses it focuses on the logic of its motorbikes. It does this by focusing on the features of the motorbikes since there are no emotions involved in purchasing decisions of the business. However when the company is marketing to consumers it focuses on the benefits of the product since the purchase decisions of consumers are more emotional (Hutt, 2007, p. 67). Marketing to consumers is different from marketing to businesses in that consumers demand a range of distribution channels for convenience which does not apply in B2B marketing. Whereas businesses are more likely to be interested in the length of the message, costumers are not interested to the length of the message and they normally want to get straight to the point. In B2B the most efficient marketing message will focus on how Harley Davidson motorbikes saves time, money and resources whereas in B2C marketing Harley Davidson’s most efficient marketing strategy focuses on the results and the benefits, which Harley Davidson motorbikes will bring (Sarangi, 2009, p 103).
4.3 domestic marketing and international marketing
Harley Davidson which is based in America markets its products with the local financial market, which has only one set of competition and economic factors that makes it more convenient. There are no language barriers in getting and data interpretation in the US market trend and the customer demand is easier and faster to do in US. The market of Harley Davidson in US has helped the company to make decisions and come up with marketing strategies, which are more efficient and successful. The risks faced by Harley Davidson in the US are minimal hence the company has used less financial resources. International market on the other hand is promotion and sales of Harley Davidson’s motorbikes in various countries across the globe. This is complex and calls for Harley Davidson to use a big amount of financial resources (Hair, 2007, p. 78). Every country has its own regulations on business and whenever Harley Davidson wants to enter new markets it is required to know the regulations of each country. Consumers taste and preference for the products of Harley Davidson differ and this requires the company to formulate marketing strategies, which cater for the needs of various consumers. Haley Davidson’s international marketing requires the company to use more time and efforts and they are normally more risky compared to when the company is marketing in US. This has required the company to be more committed to marketing its motorbikes due to the uncertainty associated with it (Gerber-Nel, 2003, p. 123).
- elements of marketing process
The elements of marketing process also known as set of controllable tools which a company blends to come up with the response that it wants in the target is composed of everything the company does to influence the demand for its products. The elements of marketing encompass products, price, placement as well as promotion. These elements helps an organization to scales its new heights of profitability.
Price
In normal conditions if an organization lowers the prices of its products, it will have expanded sales. However, this argument is not valid since if clients do not decide on the commodity price they look for other factors like quality, cost effectiveness and easy accessibility as well as value added services keeping in mind client relations (Sheehan, 2011, p. 90).
Place
Place entails all organization’s activities, which make the product obtainable to the target clients.
Promotion
Promotion is the means in which an organization communicates to its clients concerning its products, value and benefits relating to the product.
References
Gerber-Nel, C., Cant, M. C., Nel, D., & Kotzé, T. (2003). Marketing research. Claremont [Cape Town], New Africa Books.
Hair, J. F. (2007). Marketing research. North Ryde, N.S.W., McGraw-Hill Australia.
Hutt, M. D., & SPEH, T. W. (2007). Business marketing management: B2B. Mason, Ohio, Thomson/South-Western.
Sarangi, S. K. (2009). Marketing management. New Delhi, Asian Books. http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=315098.
Sheehan, B. (2011). Marketing management. Lausanne, Switzerland, AVA Pub. http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=390499.
