DropBox

DropBox

[Name of the Writer]

[Name of the Institution]

DropBox

Product List

There is a number of products that small and medium online retailers offer a wider range of customers in almost every market. As well as huge and strong competition also exists among online retailers because most and even all of them offer similar products up to some extent (Kotler, et.al, 2013). So to our business standing out and differentiated from the rest, our list of products that we would sell include the products that are offered by very few online retailers. Those products are;

Beach Towel (a summer product)

Electronic Ionic Hair Brushes

Breathable Mesh Running Shoes

One Piece Swim Suit

Car Phone Holder

Custom Made Jewelry

Restored Furniture

The above-listed products are those which cannot be found offered by each of the online retailers. While additionally, the products which commonly offered by online retailers are also added to the list for having higher sales because of the products’ trends. Those common products are;

Phone Accessories

Watches

Video Games

Phone Lenses

Books and Photographs

Target Market

The market has been targeted based on Usage Type of our products. Most of the people (around 75%) of Kingston, Ulster purchase products from online retailers. So our target market in Kingston, Ulster, New York USA.

Differentiation

A number of retailers are engaged in offering/selling of products similar to ours’ but, we are differentiated from even all of the competitors because of Wider Range of Products and Quality of Delivery Services.

We offer a wider range of products that includes both trending and non-trending products while all of the competitors in the market offer trending products. As well as our quality of delivery services is much better and appreciated by the customers which also makes us differentiated.

Strategies for Marketing Mix (4 Ps)

Product

The product strategy is, our products have been chosen based on product nature. Hence, our products are convenience products, not high value/high cost.

Price

The price strategy is market penetration pricing where we set lowers prices and focus on a higher number of sales. Because according to (Pappas, 2016), retail businesses can win high market if they set lower prices than the rivals.

Place

Place of our products includes both online and offline platforms (stores etc).

Promotion

Being a small retailer, promotion is done through social media, website, article marketing, and a bit through PPC (Pay-Per-Click).

Each of the Marketing Mix Strategies (except Product strategies) would be changed as per the business location like more focus on offline sales (Place/Placement) after when having physical retail location, promotion through personal relationsip and customers’ referral (Promotion), and use of combination of skimming and penetration pricing strategies (Pricing).

References

Kotler, P., Armstrong, G., Harris, L. C., & Piercy, N. (2013). Principles of Marketing. 6th European edition. Essex: Pearson Education Limited.

Pappas, N. (2016). Marketing strategies, perceived risks, and consumer trust in online buying behavior. Journal of Retailing and Consumer Services, 29, 92-103.