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The product I chosen is the Violin that is available in the USA. The country I choose to market my violins is Germany. Why choose Germany to market violins? Because Germany has a powerful economy, has a long period of growth rate, aging population is growing bigger every day, the restructuring and growing capital markets are setting the foundations that help meet long term challenges.
(The world fact book, 2007)
The marketing mix has four P's for the segment.
? Product: is the basic brand name that you need to develop the product. Brand name includes design, packaging, services, quality and warranties.
? Price: is the most difficult decision to make in developing the products revenue.
? Place/distribution: covers the organized network that moves goods and services from the producer to the consumer.
? Promotion: includes all of the companies' activities to communicate and promote the product. These include selling, public relations and communication.
(Answers, 2007)
Competitive advantage is the position a firm occupies in competitive landscape.
Michael Porter posits that competitive advantage, sustainable or not exists when a company makes economic rents or earnings that exceed their costs, including the capital costs. This means that the normal competitive pressures are not able to drive down the firm's earnings where they cover all costs and provided just minimum capital invested.
Most forms of competitive advantage cannot keep going for the length of time due to the promise of economic rents; this drives the competitors to duplicate the advantage held by one firm.
(Answers, 2007)
The products h ...