3. Marketing Mix Situation
The marketing mix is described to contain a set of actions or strategies that a company can utilize to ensure it promotes its brand or products in the targeted market. Razer Mice has used seven components of the marketing mix namely (price, product, promotion, place, positioning, people and physical evidence) to ensure they have a larger market share in Singapore (Azman, & Aris, 2016). Razer Gaming Mouse elements of the marketing mix are noted to influence each other. The noted make up the company business plan. Over time the company has utilized the marketing mix which has resulted in the great success of the company. The Razer Mice marketers have an opportunity to identify different factors that influence the consumers decisions to make purchases. Moreover, the marketers use these plans to make marketing plans. The market mix provides value as it facilitates communication to the customers for the companies and can determine the company able to produce the requested volume of products and services (Koh, Kin, Wadhwa & Lim, 2012). Therefore, the marketing mix allows the company to make decisions regarding the products being sold. Additionally, by market mix, the company can determine the pricing, distribution, and advertising to ensure they can make maximum productivity.
Product refers to the items the company is selling. The theory to explain product selling is channel marketing. Channel marketing theory explains of how best a seller can sell their products as the highest quality in the market. Razer Mice products are expected to deliver the minimum level of performance. Razer Mice has over the years been very intentional to satisfy the Singapore market customer needs (Koh, Kin, Wadhwa & Lim, 2012). Their products are considered to be of high quality as they have taken the initiative to understand the customer needs including physical, sensory or cognitive functionalities. Razer Mice has given the consumers the right to send back products if they do not like within a period. Moreover, the company has created a variety in every series to ensure they capture every consumers needs and wants. Additionally, Razer Mice gaming gadgets are noted to have unique and slick appearances which are a very innovative and friendly application, and this has had a positive effect on the Singapore market.
Price is noted to have two significant effects on the brand. The theory to be examined is perceived-value marketing theory that explains in the event the product price is higher than that of the competitors there is a high likelihood of considering the product to be of higher quality. The first move makes the lowest price and attract a large crowd to ensure a greater financial gain in the long run. The second move is to seek a higher price to impress the customers regarding the product quality. In particular, the price of Razer Mice is noted to be distinctive as it is responsible for generating the revenues of the company. Razer Mice in Singapore has ensured it develops a healthy approach to ensure the competitors are kept at bay on the targeted consumers (Azman, & Aris, 2016). They have ensured many of the products are affordable to a wide range of customers; the company has exploited the skimming pricing strategy. To ensure the customers are capable of enjoying the games maximally the company has stocked different games, and the company has developed a wide range of handsets that are affordable and in the long run, have truly lived to its buzzword of connecting its gamers to the action.
Place entails how customers get the products. Viral marketing theory in detail explains how the effects of technology potentially affect the marketing of the product. Moreover, with many of the customers being available in social media, many companies have embraced Companies try to ensure they identify the best place to stock up their products, the right time to trade and the strategy to promote the product of the product. Razer Mice gaming gadgets are found at the company gallery. Over the years the company has maintained a traditional form of distribution. Razer Mice gaming also has an online shop where customers can easily order their gadgets, and they are delivered to the customers on time.
Promotion entails communication of the company products. The theories to be exploited are push or pull theory. In push strategy the company concentrates on the distribution channels while pull strategy concentrates on creating awareness so as to lour the customers to the shop. Razer Mice gaming has identified different target groups (Choo et al., 2010). The company main target groups are the young people who constitute the biggest percentage of the population. The company in Singapore has sorted out to use TV, newspapers, public relations, and personal selling. Through the exploited channels, Razer Mice gaming has significantly increased the product awareness. Moreover, Razer Mice gaming has fully embraced pull promotional strategy where promotions being made to different stockers of the company products are linked to other company stores globally.
Having the right person at the company ensures the company products can deliver the company products to the people with less effort. Motivation-need theory explains that people always seek for items that they need in the order of their importance. Therefore, every product needs to be presented in a way that the consumers are able to place it at the top of their ppriority list. Razer Mice gaming has continued to enjoy a competitive advantage as it has employed some of the best employees and has trained them to ensure they effectively deliver to the customers. Customers often make judgments regarding the service based on the staff behavior. Thus, Razer Mice gaming has ensured all the staff can easily display their interpersonal skills and service knowledge of the different games gadgets and software applications (Koh, Kin, Wadhwa & Lim, 2012).
Process refers to the actual mechanisms, procedures and the different flow of activities that are used to deliver the services and gadgets to the end user. Market process theory explains how production and consumption coordinates. The theory in detail explains how the market is capable to move to a state of general economic equilibrium. Razer Mice gaming has ensured they have put in place processes to ensure service delivery carefully and with time have built the customers confidence as the products can be reached to the customers on time and in the right form. Razer Mice gaming has deployed a functional oriented organization where there has been an introduction of a new development approach in the company to facilitate information development to satisfy the different business needs (Tan & He, 2016).
3.7. Physical Evidence
Physical evidence is very critical for the service mix as the customers often make the quick judgment based on the first impressions of the service being provided which in the end impacts on the company perception regarding the service. Razer Mice gaming has managed to provide the clients with a clean and a very friendly environment (Ng, 2013). In the event customers have an issue with any gadget from Razer Mice gaming they are given a very friendly reception and help effectively by the staff member who is in charge.
4 Competitive Situations
Razer is noted to face stiff competition from companies such as Logitech, SteelSeries and Corsair has managed to distinguish itself where instead of producing one product it sells both hardware and software (Ng, 2013). Moreover, Razer has been picked as the worlds number one maker of gaming mice and other keyboards and also leads the ultra-competitive gaming headphones market.
Factors Logitech Steel Series Corsair
Size The company is a multinational company but does not have a significant share in the Singapore market. The company is a multinational company with a sizeable impact on the Singapore market. The company is a multinational company but doesnt command a lot of the Singapore market share.
Strategy Emphasizes is placed that the gadgets were specifically built for hands like the users comfort. Rise up and get the best quality handsets that will transform the future. Allows unit combination.
Market share The company is noted to constitute approximately 15% if the Singapore market (Koh, Kin, Wadhwa & Lim, 2012). The company is noted to cover approximately 35% of the Singapore market (Koh, Kin, Wadhwa & Lim, 2012). The company constitute 7% of the Singapore market(Koh, Kin, Wadhwa & Lim, 2012).
Product quality Logitech products are rated to be some of the best quality gaming gadgets in the market. With minimal complains from the customers, the company products are noted to produce some of the best quality products. Corsair products are graded to be of high quality.
Customer satisfaction Many of the Logitech customers have registered a very high customer satisfaction Consumers are very satisfied with the company products on display. There has been a number of complains among the consumers which has resulted many of the company products being returned.
4.1 Point of difference
There are two identified differences between the gaming companies. Some games focus on the real world experiences while the majority of the games focus on the fiction world. Second, some gaming companies prefer to focus on only one line of production where they either select to deal with software or prefer to deal with the technical work (Tan & He, 2016). However, Razer Mice operates in both fields of technology and software development.
4.2 Point of Parity (similarity)
There are three notable similarities among the gaming companies. Evidently, the design is never finalized before the implementation of the game. It is not a chock there may be changes done even on the final quality assurance round. Secondly, all the gaming testing focuses on the customer experiences (Koh, Kin, Wadhwa & Lim, 2012). User experience and usability testing focus on how comfortable the user will get engaged to have the best experience. Finally, the game products product design aims to maximize the used time with the product.
Azman, F., & Aris, H. (2016). Exploring the potential of programmable button mouse in improving programmers efficiency. In User Science and Engineering (i-USEr), 2016 4th International Conference on (pp. 29-34). IEEE.
Choo, H., Gentile, D., Sim, T., Li, D. D., Khoo, A., & Liau, A. (2010). Pathological video-gaming among Singaporean youth.
Koh, E., Kin, Y. G., Wadhwa, B., & Lim, J. (2012). Teacher perceptions of games in Singapore schools. Simulation & Gaming, 43(1), 51-66.
Tan, M. L., & He, P. (2016). U.S. Patent No. 9,235,277. Washington, DC: U.S. Patent and Trademark Office.
Ng, C. A. (2013). U.S. Patent No. 8,566,431. Washington, DC: U.S. Patent and Trademark Office.
If you are the original author of this essay and no longer wish to have it published on the thesishelpers.org website, please click below to request its removal:
- Research Paper on a Marketing Plan
- Essay Example on the Welch's Grape Juice Packaging
- Human Inference and Information Vividness - Literature Review
- Pro-Analysis Measurement Tool: A New Model of Measuring Social Media Marketing Effectiveness in a Healthcare Setting
- Coursework Example: A Customer Service Knowledge Base
- Essay on Marketing Communication Mix Components
- Kodaks Digital Imaging Strategy - Paper Example