Marketing Management and Consumer Behaviour †MyAssignmenthelp.com

Question: Discuss about the Marketing Management and Consumer Behaviour. Answer: Product Product is the most important strategy towards meeting the core needs and demands of the customers. According to Schmidt, Spann and Zeithammer (2014), Product strategy incorporates the features and quality of the products towards meeting the specific needs of the customers. On the other hand, Helm and Gritsch (2014) opined that product strategy also involves the branding, guarantees and warranties of the products of an organization. While considering the product strategy of Fitbit Company, it can be seen that the organization has seven products in the market. These seven products include four wristband style tracker, two clippable activity tracker and smart scale. The products of the organization are mostly used for measuring the number of steps walked, steps climbed, quality of sleep, body fat weight, body mass and many other personal metrics involving fitness (Fitbit.com 2017). The Fibit Flex of the organization only measures the calories, steps and sleeping cycle of the customers. Furthermore, the high end model of Fibit Surge covers broader range of functions like smartwatch and other similar activities. The Fitbit wristwatch effectively track the heart rate and better track the calorie burns, which helps in maximizing the work out level of the customers. Moreover, the unique quality of product of the organization helps in right tracking of the health condition of the customers. The Fitbit watches are used for tracking all day activity, music control and reminder to move (Fitbit.com 2017). In this way, the unique product strategy of Fitbit provides the best way to the customers for keeping them healthy. Price Price strategy refers to the amount, which the customers pay for purchasing a particular product. According to Chng et al. (2015), effective pricing strategy includes the consideration of customer perceived value for the products. On the other hand, Borland and Lindgreen (2013) opined that pricing is an important strategy, which has huge impact on the revenue of the customers. While considering the pricing strategy of Fitbit, it can be seen that the organization uses mixed pricing strategy for selling their health metric products to the customers. Moreover, the organization uses premium pricing for the high end products. However, it uses affordable prices for the normal quality products. The retail prices for the wristbands of the organization are ranged from $99.95 to $249.95. On the other hand, the smart devices like Fitbit scale and Aria are priced at $129.95. The tracker part of the Fitbit Flex can be removed from the wristband and can be inserted into Tory Burch Bracelet or pend ent. In case of pricing the bracelets, the organization considers the materials used in the bracelets. Moreover, depending on the materials used in the bracelets, the bracelets accessories costs around $175, $195 and $38 in respect to leather, metal and silicon materials respectively. Furthermore, the pendent necklaces cost around $175 (Kumar 2015). Promotion Promotion strategy refers to the ways of communication in which the organization communicates with the customers. According to ztamur and Karakad?lar (2014), effective promotion strategy helps in increased interaction with the customers towards enhancing the customer awareness regarding the products and services of an organization. On the other hand, Helm and Gritsch (2014) opined that effective promotion strategy enhances the brand image of the organization to the customers. While considering the promotional strategy of Fitbit, it can be seen that the organization uses mass mediamarketing towards reaching wide customer group. Moreover, the TV advertisement, radio advertisement, newspaper and magazine advertisement for reaching wide section of customer group. Fitbit also uses digital and social media for the reaching large customer bases in shortest period. Social media like Facebook, Twitter and YouTube media helps in attracting new generation customers. Furthermore, the organization also uses Fitbit app has formed online community and social network, which helps the users in sharing and comparing their fitness achievement with their friends (Fitbit.com 2017). In this way, effective promotional strategy of Fitbit helps it towards proper communication with the customers. Place Place strategy assists in providing effective ways of customer access of the products and services. As per Borland and Lindgreen (2013), properly constructed place strategy sets direct and indirect channels for the customers for helping them in accessing the products and services. While considering the place strategy of Fitbit, it can be said that the organization has its own physical stores for selling their products to the customers. Apart from that, the customers can also avail the products of Fitbit in the retail stores. Moreover, retail stores are the most convenient place for the customers towards accessing the products of Fitbit. Furthermore, the most flexible and easy access medium of the Fitbits product is its online shopping option. Moreover, the customers can avail the products of this organization through Amazon and many other online retails (Madhavaram, Granot and Badrinarayanan 2014). Therefore, it can be seen that effective place strategy of Fitbit helps in better acce ssibility of products to the customer. References Borland, H. and Lindgreen, A., 2013. Sustainability, epistemology, ecocentric business, and marketing strategy: Ideology, reality, and vision.Journal of Business Ethics,117(1), pp.173-187. Chng, D.H.M., Shih, E., Rodgers, M.S. and Song, X.B., 2015. Managers marketing strategy decision making during performance decline and the moderating influence of incentive pay.Journal of the Academy of Marketing Science,43(5), pp.629-647. Fitbit.com. 2017.Fitbit.com. Retrieved 25 November 2017, from https://www.fitbit.com/au/home Helm, R. and Gritsch, S., 2014. Examining the influence of uncertainty on marketing mix strategy elements in emerging business to business export-markets.International Business Review,23(2), pp.418-428. Kumar, V., 2015. Evolution of marketing as a discipline: What has happened and what to look out for.Journal of Marketing,79(1), pp.1-9. Madhavaram, S., Granot, E. and Badrinarayanan, V., 2014. Relationship marketing strategy: an operant resource perspective.Journal of Business Industrial Marketing,29(4), pp.275-283. ztamur, D. and Karakad?lar, ?.S., 2014. Exploring the role of social media for SMEs: as a new marketing strategy tool for the firm performance perspective.Procedia-Social and behavioral sciences,150, pp.511-520. Schmidt, K.M., Spann, M. and Zeithammer, R., 2014. Pay what you want as a marketing strategy in monopolistic and competitive markets.Management Science,61(6), pp.1217-1236.