Developing Marketing Strategies and Plans
Explain how a marketer delineates among durable goods, nondurable goods, and services when planning an appropriate market-mix strategy. Describe the strategies used for the different types of goods and services. Provide two (2) example products for the consumer market and two (2) example products for the industrial market for each category (durable goods, nondurable goods, and services).
Marketer Delineates among Durable Goods, Non–durable Goods, and Services
Marketers are often required to distinguish between durable and non-durable goods and services to plan a suitable marketing approach that would ensure increment of client base and loyalty. The non-durable goods, also referred to as soft goods, represent the products that require immediate consumption or within three years. Therefore, such products are perishable, require a good inventory turnover rate, or could easily expire (Vahdani & Sazvar, 2022). There are generally two forms of non-durable products, including the ones that are literarily consumed, such as food, and the other ones that wear out in a short period, like the light bulb or shoes. Besides, these products are often bought at an increased rate because of their fast consumption and reduced life spans; hence the marketers should ensure that their strategy is aligned to such attributes.
However, the durable products represent the category that is not frequently bought because of their prolonged life span. Further, they are always large purchases; thus, such products should be marketed according to their durability and long-lasting attributes. Additionally, durable goods are extremely costly, necessitating the marketers to innovate strategies that attract clients and market such products worth purchasing. Also, durable products can be considered the intangible offering that provides a significant advantage to the customer for a price. Therefore, the marketers should differentiate that the service would not merely be marketed as serving a necessity but as building essential trust with the client. Such relationships and trust will enable loyalty and repeat purchases. On the other hand, services are not transferable and cannot be resold, making them extremely hard to market. Thus, the marketers can effectively market services based on the four C’s, including customer value, convenience, cost, and communication (Hester, 2019).
Strategies used for types of goods and services
Different goods and services require different strategies to be implemented to market them effectively. The non-durable goods must be available in several locations with realistic prices to efficiently create the demand. Also, substantial advertising via various mediums like online ads and prints is essential to keep the sales figure growing. According to Somashekar and Kaboor (2016), offering free product samples and other free products triggers demand. However, durable goods require approaches such as individualized selling with premium prices, which are essential in creating a superior brand image. Other approaches applicable for this goods type include implementing easy payment terms like clients paying in higher purchases or leasing that allows the consumer to pay for the products in intervals. Though, in different marketing services, the marketers should concentrate on creating a strong relationship with the clients by offering custom services aligned to individual needs and after-sale services. Also, the marketers can engage the client in the procedure of the service and offer personalized services (Hoffman & Bateson, 2016).
In the consumer market, examples of non-durable goods include food and beverages and cosmetics, while durable examples are furniture and automobiles. Examples of services are auto repairs and haircuts. However, in the industrial market, the non-durable goods examples incorporate packaging materials such as plastics and milk offered to bakeries. In comparison, durable goods include an inventory management system and production machinery. The services examples in the industrial market are the human resource services for other organizations and the IT services for offices.
References
Hester, B. (2019). Marketing Strategy: Forget the 4 P’S! What are the 4 C’S? CATMEDIA. Retrieved from: https://catmediatheagency.com/4-ps-of-marketing-strategy/
Hoffman, K. D., & Bateson, J. E. (2016). Services marketing: concepts, strategies, & cases. Cengage learning.
Somashekar, C., & Kaboor, A. (2016). Marketing Strategies of FMCG Companies-A Study on Factors Influencing Buying Food, Health and Beverages in Mysore. International Journal of Engineering and Management Research (IJEMR), 6(5), 393-397.
Vahdani, M., & Sazvar, Z. (2022). Coordinated inventory control and pricing policies for online retailers with perishable products in the presence of social learning. Computers & Industrial Engineering, 168, 108093.
