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Vending LLC Essay Example

The basis of the brand will be a logo that will appear on the products, packaging, promotional materials and the company’s website. The brand Express Vending LLC will consist of a blue animated image of the letters E and V with the companies name beneath it in italics. The design of the brand is such that there will be no conflicts about the brand logo both in the local and the global market.One of the most significant components of the marketing mix is price. Pricing is a significant issue because it relates to product positioning. Pricing also impacts on other elements of the marketing mix such as channel decisions, promotion and product features (Logue, 2012). The optimal price is the price that maximizes profits while matching the quality of the products. The company will conduct a market analysis to establish the market segment that has the highest sensitivity to price.Since Express Vending LLC is a new company, it will have to adopt a strategy that will attract loyal customers to its customer base. The company will be operating in a market that is growing rapidly and one that is bound to have many competitors. The company will thus have to charge a price that matches the quality of its products. The company will charge a higher price than the price that the competitors charge because the products will be of high quality. The company plans to offer high quality products, such that customers will get value for their money. The company will develop the products using high quality raw materials and the latest technology in order to ensure that customers get exceptionally high quality products.Such a pricing strategy that matches the price and the quality will give the company a competitive edge in the market (Usunier, 2009). If competitors introduce a lower price, the company might lose some consumers, but will retain those clients who are pursuing quality products. The branding will emphasize on the quality of the products. Consumers following the brand will be expecting to purchase exceptional products that utilize the latest technology. The pricing strategy will thus be in line with branding strategy.A distribution channel is the chain of business through which products and services passes till it reaches the end user. The channel can include wholesalers, distributors and retailers. With the advancements in technology, the internet has become part of this chain in terms of e-commerce. The

References

Grewal, D., & Levy, M. (2010). Marketing (2nd ed.). Boston: McGraw-Hill Irwin.

Hester, E. (2003). Vending machines. Cleveland, Ohio: Freedonia Group.

Logue, A. C. (2012, August 1). How to Create a Competitive Pricing Strategy. Retrieved November 13, 2012, from Entrepreneur : http://www.entrepreneur.com

Usunier, J., & Lee, J. A. (2009). Marketing across cultures (5. ed.). Harlow: Financial Times Prentice Hall.

Schreiber, E. S. (2002). Brand strategy frameworks for diversified companies. Journal of Brand Management, 10 (3), 122–138.

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preview essay on Vending LLC
  • Pages: 4 (1000 words)
  • Document Type: Essay
  • Subject: Marketing
  • Level: Masters
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