Phil Company II Research Paper Example | Topics and Well Written Essays - 1000 words

Phil Company II - Research Paper ExampleThis means that a association should create a crisscross after acknowledging the influence of frugal forces on any given merchandising environment. In the contemporary business environment characterized by economic forces created by free enterprise, a play alongs brand has proven to play a straightforward role in ensuring accomplishment of selling objectives. Therefore, modern managers should develop reliable skills of initiating and developing a companions brand. In the context of Phil Company, we provide strive to create a brand that deems appropriate for the companys selling strategy. From a notional perspective, creation of a brand starts at the definition stage whereby a manager defines what a companys brand should mean to altogether the interested stakeholders. Upon defining a companys brand, the creditworthy manager determines clear objectives meant for that company (Julian, 2011). Based on the business profile of Phil Company and the prevailing marketing forces in the electronics manufacturing industry, Phil can develop a concrete brand by articulating marketing research learning into their decision making processes. Research information helps in brand creation because it highlights the key stakeholders and their maintainive expectations with respect to the companys marketing practices. In the context of Phil Company, research findings show the expectations of selected market segments. After an true definition of the brand, the next step should involve specifying the intended objectives of that brand to the interested stakeholders. A typical brand should communicate the intended message to the target audience(Peter, 2004). A brand should create a vivid knowledge of a companys products qualities and uniqueness. Phil Company emphasizes the need to differentiate their product with respect to the factor of rivalry in the industry. As a result, the brand developed will influence the target audience at an emotional level. The content of the created brand should make a feeling of connection to the consumers. In addition, Phil can achieve loyalty among the consumer population by engaging in the house of brands. In order to reach all its target audience, Phil Company will engage in active brand positioning, both at the interior(prenominal) and the international market environments. Brand positioning can be achieved through the use of advertisement transmit like the media, both television and print, or through the internet. Employment of these modes of advertisement will facilitate substantial positioning of Phils brand in both markets (Peter, 2004). Product price is another essential element in marketing. In a competitive environment characterized by the typical forces of free enterprise, product determine is influential in a companys marketing process. A business environment enjoying the economic aspect of free enterprise allows easy entry and exit from any product industry. In this regard, the electronic products industry in the US and at the international level has numerous competing manufacturers. Therefore, Phil has to consider the influence of set during the development of their marketing strategy. Phil chooses to adopt three pricing strategies that can facilitate the development of comprehensive pricing principles. The first pricing strategy adopted by Phil is