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JGJ Inc. Pricing and Promotional models

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JGJ Inc. Pricing and promotional models

Introduction

Marketing mix can be defined as the tools used for improving the market. This is what the company does to succeed, the company can influence the demand through improvement on the quality of the goods. A marketing mix is a tool that assists in the planning for the markets. Price is the amount that is supposed to be paid to acquire a given product. Distribution channels that are used in providing the product to the customers. Promotion is a technique for increasing the awareness of the product.

Analysis of current pricing models in the market

A pricing model is an arrangement received by choosing what it will charge for its printing and administrations. Techniques are self-destructing by and large in three expense-based classes estimating, a typical serious component. Among the evaluating systems that at last, the measure of income produced from a set cost duplicated by the units sold should cover working expenses and admittance to a blocked-off project edge, which ensures satisfactory returns in speculation. The interaction for doing this is extraordinary contingent upon the industry and economic situations, beneficial upper hand, what's more, sometimes control issues. Cost The methodology is significant adaptability in monetary displaying, deciding the returns, receivables got, and sums returned from development by its long endurance

The models used in pricing affect the cost for various products and services. These models are vital for assisting the company to attract more customers. Gain is usually included in the prices of goods and services. Through this model, the company can determine the prices of goods by basing on the needs of the customer. Through these needs of customers are met leading to increase in the customers. This model helps in moderating the amount to fit the needs of customers.

Hourly hour pricing is vital for the company in the providing of services. This is so since most of the customers usually use hours before deciding on the product they can purchase. Having a fixed price is the other model which charges a fixed price for the services and products regardless of the circumstances. Having a fixed rate can be determined by the way a product is performing in the market.

Analysis of the current promotional models in the market

A promotional model is a model intended to drive shopper buyer interest for an item, administration, item type, or idea by reaching likely clients. Many promoting models are by and large coordinated into actual appearance. They work to make the item or administration more alluring and can give data to writers and buyers at expos and meeting occasions. Limited time models are utilized in motorsports, different games, (for example, dart contests), or expos, or they can fill in as "speakers" to advance a specific item or item in commercials.

The current promotional models in the market comprise conventional modeling and trade shows. These models have got various factors including a free sample that is given to customers to have the opportunity for testing goods quality before deciding on buying. It also involves the answering of questions and the clarifications from customers. The retail model is the other type of retail service. The spokesmodel is the other model for a company’s market promotion.

Analysis of the current distribution models

The intensive distribution model is a current model that is used in the distribution. Goods are effectively distributed by the use of this model. It has various intermediaries and a few chosen based on given criteria. This model is vital in the improvement of the distribution process. Using few intermediaries is due to the wants of the organization using a selective distribution process. Most of the time exclusive is usually made up of one intermediary.

Recommended Pricing Strategy for JGJ Inc.

For JGJ to be able to have an improvement in its profits, a fixed price model is key. This will offer assistance in the providing of goods and services to consumers irrespective of the financial status they might be in. This will offer assistance for the organization in budgeting for the services. By considering the available stock and the workers the price is set in a way that the profit will be the automatic outcome in the long run. This is not suitable for other models since the price could be discriminated against. This thus predicts success for the business to become complicated. The model is vital in the budgeting process and problem that might have been encountered in marketing is dealt with before it can occur.

Recommended Promotional Strategy for JGJ Inc.

The best promotional strategy that can be used in this case is trade shows and events. This is vital as it helps the company in showing how it can improve its products. This will also assist in informing the customers of the upcoming new products. This model increases interaction between customers and the company and problems together with other issues affecting customers are dealt with.

Recommended Distribution Strategy for JGJ Inc.

When it comes to the distribution of the product JGJ can use the exclusive method for the distribution of its products. The main advantage of using this model is that it will assist the company in using well-experienced intermediaries thus having control over delivery by a single intermediary. Using a single intermediary is useful in helping improve the quality of the services which are offered. This model assures a decrease in competition and increases profits.

Conclusion

In conclusion, JGJ will improve promotional, distribution, and pricing through the adoption of the above models. The high three models are the ones influencing the company’s demand. For the company to be able to increase its profit it should strictly adhere to the above guidelines. An increase in the market of goods and services will lead to the company’s success.

References

Kotler, P. and Armstrong, G. (2013) Principles of Marketing, Pearson Prentice-Hall.

Kotler, P. and Keller, K. (2013) Marketing Management, Pearson Prentice-Hall.

Nagle, T. and Hogan, E. (2010) The Strategy and Tactics of Pricing, 4th edn, Pearson Education, Inc., New Jersey