The Advantages of Packaging

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The negative impacts of packaging

The negative impacts of packaging range from depletion of resources, ecological effects, and waste emissions. When a product requires more packaging, there is a need for more resources. In addition to the cost of material such as polystyrene, and crude oils for plastic packaging, energy cost is an added expenditure due to packaging. A significant proportion of available land in cities is filled with waste packaging. Additionally, plastic products released to the environment used for packaging can cause the death of animals and plants including human due to suffocation.

Branding

Product branding would be a crucial aspect of a business if it were to gain a competitive edge in the new market. Branding, for new firms, is a means of a business discovery regarding the mission, benefits and features, customers and prospects, and qualities that the client must associate with a startup. Branding means doing research, which is another added advantage to understanding the business environment, and market trends.

Need to Develop New Products

Over time, the needs and priorities of customers change, hence businesses must develop new products to cope with clients taste and preferences. When a product reaches the end of its life cycle, it becomes imminent that a company changes to a new product, improved or an updated version of the original product. Environmental changes might trigger a need for a new product, especially if a company has a chance to capitalize on an aspect of climate change in its business operations. Stiff market competition may require the need for diversification hence the introduction of a new product.

A product lifecycle

A product lifecycle depicts the stages that a product introduced in the market must pass sequentially. It begins with an introduction, the growth, maturity, and finally the decline. At introduction, sales are the lowest since most customers are still unaware. At the growth stage, publicity and market campaigns ensure clients are aware of the product and more buyers. At a maturity stage, the product reaches optimum customer base and marketing target product differentiation. At the decline stage, the product may reduce in popularity or more advanced products can beat its market penetration and finally its sales declines.

Marketing Product and Services

Subject to differences in the characteristics of products and services, marketing strategies differ. Dimensions such as tangibility, reliability, responsiveness, communicability, and credibility relative to products and services are the fundamentals of marketing strategies diverging for the two. The aim of a product marketing is fulfilling the wants or needs of a target consumer population. On the contrary, under service marketing, a firm’s objective is to create a working and beneficial relationship with clients in a bid to win their trust. The marketing mix is also an aspect of marketing that brings a difference. Product marketing applies four Ps while service employs seven. People, processes, and physical evidence forms the last part of the service marketing mix contrary to the traditional marketing mix of products.

The most critical marketing dimension

The most critical marketing dimension is arguably communicability of the service. Dimensions like service credibility, responsiveness, or reliability of service are features that rely on effective communication employed in marketing strategies. The clarity and understandability of information passed to a client make all the difference in a marketing strategy.

Applying Diffusion Theory to Toyota Cars

Diffusion theory refers to the overtime acceptability of a product in a market category. Toyota cars adoptability under relative advantage means answering the question: Does the product have differentiators making it unique? Toyota cars achieve a relative advantage by offering cost-effective product suited to various economic classes. Under compatibility, what are some of the consumer features across the world? The Toyota cars are designed to serve the needs of all the people across the world. Toyota cars have penetrated the global market better than the case of any other motor company. There is a consensus that Toyota compatibility with the global community is high.

Observability

Observability relates to the observable product benefits. High chances that a product can be observed and communicated to others would mean a high diffusion rate. Currently, Toyota cars are arguably the most used across developing countries, hence meets the criteria of observability. Lastly, complexity relates to complexity or simplicity to use. Are Toyota Cars complex to use? Simplicity might aid in clients trying new products. Automated Toyota cars, and breaking away from manual cars makes Toyota products readily available for use. More clients try out new models and pass on their simplicity for use to other clients. Hence, diffusion takes place.

September 18, 2023
Category:

Business

Subcategory:

Corporations Marketing

Subject area:

Company Marketing Strategy

Number of pages

3

Number of words

761

Downloads:

55

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