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Provide a 4 pages analysis while answering the following question: MARKETING PRINCIPLES. Prepare this assignment according to the guidelines found in the APA Style Guide. An abstract is required.
Provide a 4 pages analysis while answering the following question: MARKETING PRINCIPLES. Prepare this assignment according to the guidelines found in the APA Style Guide. An abstract is required. Take for example the case of Inotada Knife Productions in Sakai-City, Japan. This firm produces extremely high quality, hand made kitchen knives, in very love volume and as such represents a behavioral segmentation. As it is the case that there are many manufacturers of knives across the globe many of which are much cheaper it could be argued that the reasoning behind why a company such as Inotada can stay successful is because the firm focuses on the product and not on marketing or planning.
As it is the case that the company is already producing a high quality product in relatively low volumes one could argue that this strategy was already employed by the firm. As highlighted in the case, after PKD was no longer a supplier to major retailers such as Brown Thomas it became the case that the primary delivery method of his product offerings was through cold calling, trade shows, and a small amount of advertising and as a result the majority of his orders are between 300 and 1,500 euros mainly to boutiques. However it is the case that this may exert a greater level of control of PKD over its product offerings it may not be the best method for profitable growth. By ignoring a marketing and planning approach, the company ignores possible cost saving strategies through economies of scale. Furthermore it is the case that PKD means nothing to people who have never heard of the brand as such it may be the case that the company should spend significant efforts at promoting the product through alternative means. Lastly it is the case that whilst PKD may be ignoring marketing and planning, many of their competitors are not. If it is the case that A Nigella Lawson branded house wares product is of similar quality and price but has a brand that is recognizable to consumers it may ultimately be the preferred choice.
