Product & Place Marketing Mix

Introduction
Prior to sketching of the marketing plan, it is imperative to first identify the category of the products or service being sold. The products made by the factory, which are primarily soap and detergents, are classified as convenience products. These are “relatively inexpensive” consumer products according to Pride & Ferrell (2010), which “buyers exert minimal purchasing effort”. The consumer will spend comparatively little time when planning to buy the factory’s products or comparing its brands with other brands within the market. However, the attributes of the product and strategic placing through effective distribution will place the company’s product at a superior position in the target market.
Taking into consideration the product’s classification, the marketing of the product will also consider the fact that consumers can readily choose other brands when the company’s soaps and detergents are unavailable. This failure resulting from a variety of causes along the supply chain can easily lead to loss of reliable and loyal consumers of Laxmi products to their competitors. Another marketing consideration relates to the low pricing of convenience products (Haines, 2008). Based on the nature of staple convenient products, the company will consider low pricing and mass production in its marketing mix planning. Furthermore, its soaps and detergents would require widespread distribution and placing in convenient locations (Pride & Ferrell, 2010). Consumer preferences and brand loyalty will be of critical focus in marketing consideration of concern to the company, keeping in mind that they highly influence automatic purchasing decisions made by consumers. Of essence is that its products would always be in stock at the designated outlets, to ensure loyal consumers who prefer its products find them readily available, rather than choosing to purchase from its competitors (Armstrongetal, 2009).
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