First one
Product: the actual Legos themselves, as that is the brand recognition
of the company. The bricks come in various forms and characters,
attracting a wide audience. The company has also gone as far as to
adapt Legos into feature length films, and hitting today’s latest trend,
video games.
Price: While the price can seem high, it is the quality, and
character/theme of the sets that keep the customer coming back.
Promotion: The partnerships Lego has with other companies helps not
only promote those company characters or movies, but also Lego. This
attracts kids and collectors, wanting a building set of their favorite
character. The Lego video games brings interaction to a new level,
further promoting the company name.
Place: Legos are sold in a variety of stores, and online. The Lego
Store.
An implication of the marketing mix for Lego is the price, and whether
or not consumers will want to pay the high price.
Second one
Product- Apple released the iPhone SE and said that one of their
biggest challenges is the Indian market. In order to push sales in
India, they will need to come up with a great marketing and price
strategy to get consumers on board.
Price- Going along with the iPhone SE they released, it was released
for Rs35,000 (approx $530 US dollars) and priced the iPhone SE at
only Rs5,000 ($75) more than that inorder to encourage consumers to
purchase the newer version. Many consumers in India are not on
board with paying this much for a smartphone to begin with.
Promotion- While Apple is a huge company and very well known, there
are still many people in India who do not even know what aniPhone is.
Their brand awareness in India is worse than almost all of
their competitiors. In order to get Indian buyers on board to
purchasing iPhones, Apple is focusing on selling refurbished devices
for lower prices in this market.
Place- Apple is putting new efforts toward the Indian market in order
to increase it’s growth.
Apple is focusing on India in order to create better brand awareness
and growth of sales in this market. Many Indian consumers do not
even know what an iPhone is, and I believe by focusing on the sale of
refurbished iPhones for a cheaper price, you will begin to see growth
in this market.
