Marketing on Christian Dior
1.1 The major intention of this report is to gain an understanding of how the two companies achieve their marketing corporate objectives through a comparison of two different companies based on their marketing mix.
1.2 The two companies that will be based on this report are Christian Dior and its competitor Chanel. Both companies are in the fashion industry. They are the top fashion brands to be known throughout the world.
1.3 The marketing mix includes 7 P’s. The basic ones are, Product, Price, Place, Promotion, the extra ones are People, Processes, and Physical Evidence.
1.4 Each role of the individual mix will be clarified in each section.
1.5 Marketing mix stands in a very important …show more content…
3.4 Pricing Strategies are listed in the following:
1 – Penetration Pricing: It is when companies set their product price low to increase their sales and or shares in the market.
2 – Skimming Pricing: The company would set the price of the product very high when it is first put into the market. But they slowly lower the price because of a variety of reasons, for illustration; new products that replaces the current one.
3 – Competition Pricing: Setting the price of a product which is similar to its competitors’ product for comparison.
4 – Customer Value: Companies would use this pricing strategy when they identified the perception of the product, and the price would be based on their perception.
5 – Psychological Pricing: It is when companies consider the price and the positioning of price in the market. Usually charges £1.99 instead of £2, or £399 instead of £400. It is used to persuade customers that the product is not as expensive as it is