I don’t understand this Finance question and need help to study.
help me write two comments for discussion paragraphs that I provide. each comment must be of 150 words.
Marketing functions are those mechanisms or tools that allow a company to carry out its strategies via its chosen marketing structures like if company is basing its competitive advantage on high quality products and service the most important marketing functions might be product development and close contacts with customers.
Some of the personal contact functions include Personal contacts (Personal selling), advertising, public relations, trade promotion, and customer supports. Product functions include pricing, product planning and development, and physical distribution. Todays the skin product comes with so many different functions to promote their product and increase the price or increase the marketing price of that product. The product I was looking for men face wash there are so many different products available for the men face wash comes up with new strategies to increase the demand and sale of the product so markets requires the right development integration and execution of strategies.
When developing marketing strategy consider the four PS of marketing. Product, price, place, and promotion. Product exist to solve a problem or a need that a consumer has or may realize that easier by having everything you need to access in one small unit that accompanies you everywhere. Price is what the consumer pays. Some industries garner only a small markup on price while some have huge profits margin. Price is affected by sale cycle, supply, and demand. Place has become a more significant component of marketing success. Promotions component is tied directly with the attractions for customer to increase the sale of the product.
I need a comment/ response that is of 150 words for this particular paragraph.
the second discussion is for which I need a comment/response of 150 words is
The demand function represents the connection between the quantity demanded and all the determinants that might affect it. In fact, while elaborating the demand schedule to determine how the price and quantity demanded change, the managers should take into consideration all the influencing factors (McGuigan et. al., 2017).
The consumer product I would like to talk about is the perfume. As a matter of fact, this product is widely used by women and men and is available for different budgets. I believe that the variables that would be part of the demand function:
- Attractive packaging: it is well known that packaging is the first attracting aspect of a perfume. Before smelling the perfume, customers would first be attracted to the bottle. If the buyers like the shape, the demand will increase for the perfume.
- Advertisement: as a fact, the industry of fragrances spends important budget on advertisement, the most appealing it is, the more consumers will buy the perfume. The goal is to increase the visibility of the perfume using different promotion’s channels in order to reach a big number of customers.
- Income increase: with salaries increasing, consumers are willing to spend more on the perfumes as apart of their personal care. In fact, people are getting more and more aware of the importance of the personal grooming products. High-income level is an essential factor augmenting demand for perfumes (Fragrance market SIZE, Share, Trends: Industry Analysis report, 2025).
- The brand: perfumes’ producers with good brand image can expect an increase in the demand, while if a company’s brand image had any incidence that would affect the brand image, then the demand will decrease (Perfume market Size, Share: Industry TRENDS Report, 2019-2025)
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