Essay MARKETING mba 5501

Product Strategies Companies need to take many variables into account when determining to place merchandise in a certain market. One of these variables to consider is what will be the long and short term effect on success of the merchandise. After this step is accomplished, companies can then begin to develop the product strategy. Kotler and Keller (2012) defines the branding strategy as the number and nature of common and distinctive brand elements applied to the different products sold by a firm (p. 260). A good product strategy is the key to successfully selling products in the marketplace. It allows companies to focus in on a particular target market and feature set, instead of striving to provide everything to everyone. As an established manufacturer of sports equipment for major sport markets and events, Athletic Supremes’ new home gym equipment line needs to be marketed to create a link between cost and quality. Since Athletic Supreme is just breaking ground in the home gym market it would be wise to market equipment and apparel comparable to big name brands commercial gyms associate with today. One way to accomplish this is to get creative with their designs. They could start offering different color options for their strength equipment and introduce new equipment that is slimmer in design and saves on space yet is just as strong and durable. Athletic Supreme will be able to relay on brand recognition because of their established presence in the commercial gym industry. That should give them an advantage over the competition allowing them to focus on reducing costs while championing the safety of their equipment. Most companies are trying to make a name for themselves in the safety market, whereas Athletic supreme is already established. Safety is much harder to area to gain trust in. The purchase of home gym equipment and apparel will be an easy choice for consumers because of our solid reputation when it comes to safety. Place Strategies Place strategies relates to how a company will allocate their products or services they are offering to the consumers (Kotler & Keller, 2012). Distribution of merchandise or services to consumers needs to be done at the precise time and correct locations. This needs to be understood if Athletic Supreme wants to meet or exceed its marketing objectives. Emphasis needs to be placed on distribution being as efficient and effective as possible. Underestimating the consumer demands and not supplying their needs will directly affect the profits of an organization (Kotler & Keller, 2012). To stay true to its core, the quality and craftsmanship of the home gym equipment line must remain on par with its commercial line. To do so expansion of the manufacturing as well as research and development department will be needed. Athletic Supreme does not want to totally separate the two lines because they will still have so much in common. A larger facility will need to be built to accommodate the higher volume of orders expected to be placed by homeowners around the world. Additional staff to fill customer service jobs will be needed, as well as upgrades to computer software to handle the higher volume of orders. Again, through growth and expansion of production and personnel, the company’s brand will not be compromised to the consumer, in turn creating a competitive edge over other companies. ......................................CONTINUED........................................