Short answer
When launching or promoting a product, focus initial efforts on getting the pricing, placement, and presentation right, as these are often the most critical factors for initial sales success.
- Field
- Innovation & Markets
- Source
- International Research Journal of Business Studies (2012)
- Method
- Case Study
- Evidence
- Strong effect
A targeted marketing mix, particularly focusing on price, location, and physical evidence, can significantly enhance product sales within a hospitality context. This innovation & markets research insight is drawn from a 2012 study published in International Research Journal of Business Studies. Using Case study, researchers explored how this design variable affects real-world outcomes. The key design takeaway: When launching or promoting a product, focus initial efforts on getting the pricing, placement, and presentation right, as these are often the most critical factors for initial sales success.
Strategic Marketing Mix Elements Drive Product Sales Growth
A targeted marketing mix, particularly focusing on price, location, and physical evidence, can significantly enhance product sales within a hospitality context.
International Research Journal of Business Studies · 2012
Key Findings
- 01Price, location, and physical evidence were identified as the most influential attributes for increased sales of the product.
- 02Strategic product marketing efforts, aligned with rapid communication development and youth involvement, contribute to brand image success.
Application
Design takeaway
When launching or promoting a product, focus initial efforts on getting the pricing, placement, and presentation right, as these are often the most critical factors for initial sales success.
How to apply
Before a product launch or a sales campaign, conduct an analysis of your target market's preferences regarding price sensitivity, preferred purchasing locations, and the importance of the sensory experience (physical evidence).
Project actions
- 01When researching a product, consider how its price, where it's sold, and its appearance might affect how well it sells.
- 02Think about how you can make the 'place' and 'physical evidence' of your product more appealing to potential users.
Method & Evidence
Variables
Strengths & Limitations
Strengths
- +Provides specific, actionable insights into which marketing mix elements are most impactful.
- +Uses a real-world case study for practical relevance.
Limitations
A case study might not apply to all products or markets. The success of these elements can depend heavily on the specific target audience and product category.
Reliability & validity
The reliability of the findings might be limited by the specific context of the case study. Validity could be enhanced by comparing these results with similar studies across different industries or product types.
Think critically
How might the relative importance of price, location, and physical evidence change depending on the type of product or the target demographic?
Design Principles
"The 7 Ps of Marketing (Product, Price, Place, Promotion, People, Physical Evidence, Process) are critical levers for driving product sales."
Understanding which elements of the marketing mix have the most impact allows businesses to allocate resources effectively. This insight is crucial for developing impactful strategies that resonate with target audiences and drive revenue.
What This Means for Your Design
To sell more of a product, make sure its price is right, it's easy to find or buy, and the place where you buy it looks and feels good.
How to use in your project
- 1.Use this research to justify focusing on price, location, or physical evidence in your design project's marketing strategy.
- 2.Cite this study when discussing the importance of the marketing mix in your design process.
Add to My Project
Quick Cite
Paragraph starter
This study by Anshori (2012) highlights the significant impact of the marketing mix on product sales, particularly emphasizing price, location, and physical evidence as key drivers. This suggests that for our design project, careful consideration of these factors in the product's go-to-market strategy will be crucial for achieving commercial success.
Source
International Research Journal of Business Studies
Improving The Restaurant Product Sale: A Case Study at a Hotel in Surabaya
journal · 2012
View sourceQuestions About This Research
- What does the research say about strategic marketing mix elements drive product sales growth?
- When launching or promoting a product, focus initial efforts on getting the pricing, placement, and presentation right, as these are often the most critical factors for initial sales success. Evidence: International Research Journal of Business Studies (2012).
- Why does "Strategic Marketing Mix Elements Drive Product Sales Growth" matter for design?
- Understanding which elements of the marketing mix have the most impact allows businesses to allocate resources effectively. This insight is crucial for developing impactful strategies that resonate with target audiences and drive revenue.
- How can designers apply this research?
- When launching or promoting a product, focus initial efforts on getting the pricing, placement, and presentation right, as these are often the most critical factors for initial sales success.
- What were the main findings?
- Price, location, and physical evidence were identified as the most influential attributes for increased sales of the product.. Strategic product marketing efforts, aligned with rapid communication development and youth involvement, contribute to brand image success.
- What research method was used?
- Case Study.
- How strong is the evidence?
- Evidence strength is rated Strong effect, based on a 2012 journal from International Research Journal of Business Studies.
- What should I do differently in my next project?
- Before a product launch or a sales campaign, conduct an analysis of your target market's preferences regarding price sensitivity, preferred purchasing locations, and the importance of the sensory experience (physical evidence).
- What are the limitations?
- The study is a case study, limiting generalizability to other contexts. The specific product and hotel may have unique characteristics influencing the results.