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What’s your new recipe?

14 Mar

What’s your new recipe?

Mixing new ingredients and creating new recipes that no one else has tried would definitely catch the taste buds of the judges in this show called “Junior Masterchef”. Each junior contestant focus on one thing: to serve new delicious viand in a plate. Similar to a business, in order for it to stand out among the rest, it should develop new strategies and formulate new ideas to improve the products and services they offered. In this case, they are able to entice more customers and serve a great deal of satisfaction in each customer’s plates. However, the question still lies on how they should create this “new recipe” in order to produce profitable enterprise.

The marketing mix is composed of 4 P’s: Product, Price, Promotion, and Place. In my previous blogs, I have used this concept of marketing mix as a main focus of a business in order to achieve its goal. In Neil H. Borden’s article “The Concept of the Marketing Mix”, he provided an every-ready checklist of elements of marketing mix as a guide when dealing with marketing problems. He elaborated clearly that this concept seems relatively simple once it has been expressed and used.

Parcelforce’s vision is to be the UK’s most trusted worldwide express carrier. I can say that Parcelforce has developed a knack of creating “new recipe” in their customer’s plate. They established simplified range of products and they focused on customer needs. Furthermore, they address the 4Ps of marketing in their own way: they launched a new product range, choose the most effective approach to price, place it so that it is easily accessible and promote the range to customers. As a result, Parcelforce has improved its market position and strengthened itself among its competitors.

Whereas Parcelforce used the 4Ps of marketing mix, the Diesel brand also used it but with an added touch of a new recipe: People. Through the passion of Renzo Rosso, proud owner and CEO of Diesel, he turned his creative lifestyle into business and developed a new approach to do something unusual by creating diverse clothing products with a touch of artistic expression and feelings. It becomes easier if we look beyond and realize that the elements of product, price, promotion, and place are inseparably bound together by the passion of people. This new recipe only made Diesel far more different than most other brands.

Certainly, the idea of creating “new recipe” and developing the concept of marketing mix results into a more dynamic and profitable venture as well as more advanced ahead of its other competitors. Mixing the 4Ps plus another touch of a new ingredient definitely caught the taste of the customers as what has been seen about Parcelforce and Diesel brand.


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Posted by on March 14, 2011 in Marketing Blogs

 

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