How marketing techniques are used to market products (P1) Microsoft XBOX 360 and a Rolex Watch Definition of marketing The management process through which goods and services move from a concept to the customer. It consists of four elements called 4P's: (1) identification, selection, and development of a product, (2) determination of its price, (3) selection of a distribution channel to reach the customer's place, and (4) development and implementation of a promotional strategy. Target MarketXbox 360: The Xbox 360, currently sitting in a very comfortable second place in terms of sales, appeals mainly to males aged between 12 and 17, and females aged between 25 and 34.
People who purchase an Xbox 360 would have a medium disposable income and would most likely have quite a bit of spare time. In Xbox 360 the market is segmented into different age categories which would also be interested in different game types. The most common is 12-17 males interested in first person shooter games.Rolex Watch: The Rolex Watch appeals mostly to males ages 25 to 50. These males would have a high disposable income and would be in a high socio-economic group. Their job role would most likely be of high authority and this would affect their income.
4 P's Product: The Xbox 360 is a non-portable games console which was the best selling games console worldwide in the year of 2011. Many game genres can be bought on it and frequent updates allow the player to gain more for their money for example social networking is now available on the Xbox 360.The Xbox 360 appeals to their target market because the price is lower than other consoles in the market and also it has a varied range of apps and games which can be downloaded and played. Rolex is a Swiss watch making manufacturer of high-quality, luxury wristwatches.
Rolex watches are popularly regarded as status symbols and Business Week magazine ranks Rolex No. 71 on its 2007 annual list of the 100 most valuable global brands. Price: The Xbox 360 retails at around ? 199. 99 for the largest memory model.This price is competitive over the PlayStation 3 which retails at around ? 239. 99.
This price strategy means that customers are more likely to purchase the Xbox 360 as it is lower costing that the most competitive console. The Rolex Datejust is classed as 'medium priced' for a Rolex, retailing at around ? 3000 to ? 4000. This price is a lot higher that their competitors' (Omega) ? 1500 to ? 2500. Place: The Xbox 360 is sold in most game stores and it is also sold in supermarkets which sale electrical such as ASDA and Tesco.This is because their target audience would generally visit these shops to purchase items. The Xbox 360 is also sold online through many different companies, this is because people often purchase second-hand consoles as they are a lot cheaper and work perfectly fine.
Rolex are often sold in high-end jewellery and watch shops. This is because companies such as Argos do not attract customers who often spend over ? 2000 on an item. Again, Rolex are also sold online and second-hand items are lower in price; but not many people purchase second hand Rolex watches.Promotion: The Xbox 360 is advertised usually online or on the TV.
Deals and offers are promoted through these means as their young target audience would often be on the net or watching TV. Rolex is often promoted magazine articles. This is because they can pitch their advert in a specific magazine (for example Business Week). This would be a lot more beneficial than advertising it on TV as their target audience are very likely to be reading similar magazines.
