Marketing Mix Strategy
The marketing mix can be described as a planned mix of elements pertaining to a product and are controllable. The elements are often the 4Ps that refer to product price, promotion, and place. With these four elements, a perfect blend is usually attained after having made several trials and adjustments to the four elements a couple of times.
Product
Regarding the product, the company is offering high quality and fashionable clothes made from known materials, which include muslin, silk and cotton, and some nylon or polyester fabric. The two elements form the market gap that the company sought to fill. There is a potential demographic of women in the market (aged between 20-50 years) that have been identified as the potential market for the company’s product.
Price
There are a number of factors that determine product pricing. They include the cost of production as well as that distribution. However, another important pricing determinant that should never be overlooked is the target market. It is the target market that comprises the consumers of the product. If the price is beyond their purchasing ability, then there is a big chance that the product may fail (Batzer, 2019). In this case, the company’s target market comprises individuals who are after quality and material used in making the clothes. Such is a clear indication that the target market has the ability to pay for quality and material-specific product they are asking for.
Place
In the marketing mix elements, the place is equally an important issue since the potential customers must be located. Moda In will have to come up with the best distribution strategy that will enable it to take the products to the customers at their end.
Competition Evaluation
Establishing a profitable business is all about creating a product that consumers will be able to acquire at a reasonable price that will enable the company to meet its production cost and still remain with some margin (Hosseinpour, 2018). Competition comes when there are other businesses or companies that equally produce and sell their products to the same pool of customers. In Bahrain, the cloth selling industry is extremely dynamic in the sense that the baseline for market entry is much lower. However, with the high level of competition in the Bahraini market, growth opportunities are still many if an organization positions its product at the right place in the market. That is exactly what Moda In has done.
Defining the Seven-Step Strategic distribution Process for the New Product
When introducing a new product into the market or expanding into new markets, brands acknowledge that remaining alive to the sales entire process is vital to survival. But then the question lingers- how can a new brand stay on top when products are not reaching the consumers at expected times? Distribution hence is extremely important to new brands as well as those expanding into new markets (Channels, 2020). Distribution in its entirety involves transporting, packaging as well as delivering an already marketed product to the consumer or close to the consumer. The seven-step strategic distribution process includes steps such as:
Recognizing the need for a channel design decision
This is the point where an organization comes to an understanding of the type of distribution channel that fits its needs characteristics.
Setting and coordinating distribution objectives.
The distribution objectives must fit within the company’s overall objectives as well as marketing objectives. Some of the common distribution of objectives include time, product form, place, and exchange. While setting these objectives, they must be coordinated to support the company’s objectives that support growth.
Distribution tasks Specification
These include mentioning particular functions that the distribution channel will satisfy. These can be issues like making deliveries 24 hours after dispatch, availability of adequate storage facilities as well as freight security arrangements among many.
Developing possible alternative channel structures
This is basically a fall-back plan in case the mainstream channel suffers disruption. For instance, Moda In can have an alternative channel that involves road and a fall-back plan involving train locomotives or ship.
Evaluating the variables affecting channel structure
Variables are factors that keep on changing as days go by hence cannot be planned for ones and for all. They are usually adjusted from time to time as time goes by. These can include the costs incurred, channel levels, distances covered amongst others.
In the contemporary world market, distribution channels used by a company can easily turn out to be its competitive advantage. Companies employ different strategies aimed at enabling them to reach their target group wherever they are. Due to the ever-rising costs, organizations will always try to recover the costs incurred by expanding in different markets so that they can experience high stock turnovers that would enable them to earn improved profit margins. Moda In, being a new company in the market that has already identified its target market and has already positioned its brand has the biggest task of making its product reach far and wide while at the same time avoiding incurring costs that may prove to be tough to recover later (Batzer, 2019). The only way to about this is by adopting the right distribution strategy. It is for reasons that we provide a few distribution strategies that the company can weigh through and select the most strategic.
Indirect Distribution Strategy
The first distribution strategy that the company can adopt is an indirect distribution strategy, which involves the use of several intermediaries before the product finally reaches the end-user. In this case, the product can be leaving the company warehouse through a distributor who then delivers to local stores acting as retailers from where the customers can go and get them. By involving the geographical network of dealers in between the company and end-users, there is the likelihood of incurring extra costs that are passed to the consumers while making final pricing.
Direct Distribution Strategy
Another strategy that is open to Moda In is a direct-distribution where there are no dealers involved in between the manufacturing unit and retailing unit of the company. Direct to end users strategy will mainly optimize the use of the company’s direct network channels like e-commerce or modern retail. The point here is that the distribution mechanism of the company remains as short as possible, even if the company’s sales team is involved.
Intensive Distribution Strategy
The third distribution strategy also open to the company is an intensive distribution where mass marketing of the product is involved. As opposed to direct and indirect distribution strategies that pictorially present a linear kind of flow, intensive distribution virtually covers the whole market or most parts, if not all, and is the best fit for durable products like clothes, which are the products that Moda operates.
Recommended Strategy
Having analyzed the three main distribution types, we find that both the direct and indirect distribution strategies present similar opportunities as well as limitations as far as the specifics of the company’s condition are concerned. Starting with the direct distribution channel, we find that the strategy provides the quickest access to the market but fails on other fundamental capabilities like mass-market coverage. The strategy best fits consumer goods that lack durability (highly perishable with high consumption rates). Similarly, the indirect strategy is equally linear in nature, just like the direct strategy save for its longer nature as it involves more than one agent in between the manufacturer and the final end-users (Batzer, 2019). We take note of the intensive distribution channel with its potential contribution to the success of Moda In Company. The company deals in durable goods and an equally low consumption rate (low utility rate). The company also seeks to cover its targeted market without leaving others behind. With that in mind, an intensive distribution strategy is the best option for the company in this regard. Because it is not linear in nature, it can easily survive the effects of Covid-19 than the other two strategies.
References
Batzer, E. (2019). Marketing strategies and distribution channels for foreign companies in Japan. Routledge.
Channels, D. (2020). DESIGNING DISTRIBUTION CHANNELS – STRUCTURE AND DESIGN OF MARKETING CHANNELS. Retrieved 4 May 2020, from http://arts.brainkart.com/article/designing-distribution-channels—structure-and-design-of-marketing-channels-941/
Hosseinpour, A. (2018). The Analysis of Intensive Distribution Approach. Journal of System Management, 4(2), 67-78.
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