This paper outlines the procedure that will be followed to be able to understand how the use of the marketing mix strategy will help to increase the level of sales of China’s product. An analysis of what is contained in a marketing mix will be done in this paper so as to form a basis of understanding how the use of a marketing mix strategy would aid China in its efforts to market its products and thus increase its sales. In an attempt to understand whether or not the use of a marketing mix strategy has had an impact increasing China’s sales, the paper will explore previous researches done in the past to establish the results obtained in forming a relationship between marketing mix and the level of sales in china. The paper will then explain the procedure of how a research is to be carried out so as to determine the present role of using marketing mix strategy in increasing the level of sales in China.
The use of the marketing mix has for a long time been used by many countries as a strategy for marketing its products (Keillor 2007). The marketing mix strategy mainly entails the considering the 4Ps before formulating a marketing strategy. The 4Ps involve factoring in how the nature of a product, its price, promotion and the place of sale will affect the formulation of a marketing strategy.
The relevance of the proposed research is to determine the role of a marketing mix strategy in marketing (Sheng 2010). This research will help to determine whether the application of a marketing mix strategy to market products will be effective in increasing product sales and the achievement of better profitability levels. The study will be carried out in China to determine the applicability of the marketing mix strategy in China.
It is a generally known fact that China has currently been emerging as a major producer and seller of a variety of products in the world (Kotler 1980). However, China’s success in selling in selling its products to a global market has been facing stiff competition from other countries such as Japan and the United States. China has, therefore, been forced to consider strategies that will enable it to maintain and even increase its global market share of customers. Thus, the research on the role of a marketing mix strategy is justified by the need to determine whether or not a marketing mix strategy will be effective in increasing the level of sales made by China.
The value of this research can be obtained from the knowledge that the research will help to determine whether the application of a marketing mix strategy will be effective in helping China to increase the amount of sales of its products. Once the level of effectiveness of the application of the marketing mix strategy is obtained, strategists in China will be able to know whether to apply the use of the marketing mix strategy or to change to another strategy to increase the demand of China’s products (Kotler & Armstrong 1991).
Research Questions and Research Objectives
The research shall try to answer several questions in order to give an understanding of the role of the marketing mix in China. One of the questions that the research will try to answer is how does different market factors affect the market mix to be used in China? The second question that this research will answer is how on what methods can China use to collect the appropriate data that guide them when coming up with an appropriate marketing mix strategy? The research will also answer the question what criteria should China use to come up with a suitable marketing mix? The last question that this research will seek to answer is on who should be in charge of formulating the appropriate marketing mix for China?
The research will also have to meet some objectives. The first objective that the research will aim to achieve is to understand how different market factors affect the choice of the marketing mix to be used by China. The research will also to meet the objective of understanding the process that China should follow in coming up with the appropriate marketing mix. The last objective of the research is to know what person or authority will be in charge in coming up with the most appropriate marketing mix.
The research design to be used will involve conducting a survey to establish all the factors that should be considered in coming up with an appropriate marketing mix. The survey will be conducted on companies based in China market analysts and customers to obtain feedback that will be help them to come up with an appropriate market mix. The reason behind the choice of this research design is that it includes all the important stakeholders that will give all the relevant information that will aid in the formulation of an appropriate market mix.
Questionnaires will be used to collect data for this research. Use of questionnaires will be advantageous in that it will allow for the collection of relevant information only since participants will be required to answer already defined questions. The use of a questionnaire will also be advantageous in that it will allow for easy analysis of collected data since the data collected data collected will not have significant variations. The main disadvantage of using questionnaires as the method of data collection will be that some respondents may give biased feedback when answering questions. Another disadvantage of using questionnaires is that some respondents might not be willing to answer questionnaires given to them.
A research done on the effect of standardizing the application of a marketing mix strategy in multinational companies in the year 2007, revealed that the different components of the marketing mix strategy, that is the product, price, promotion and the place to sell products had a significant influence in increasing the level of sales made by multinational companies (Armstrong 2009). For example, the product component of a marketing mix was very crucial in influencing the level of sales since multinational companies had to identify and sell the preferred product in a certain market (Grewal & Levy 2010). Companies that sold products that had characteristics that were different from the customer’s tastes and preferences recorded a very low sales volume.
The price component of the product mix also appeared to be an important determinant of the level of sales that a company was able to achieve. It was observed that companies that sold their products at lower or favorable prices achieved a better sales volume than companies who sold similar products at exorbitant prices.
Promotion of a company’s products was also observed to be very important in increasing a company’s level of sales. The trend observed from the research showed that companies that were aggressive in marketing their products realized higher level of sales than companies that failed to carry out effective advertising.
It was also observed that companies were required to pay more attention in deciding on what products to sell in particular places. The need for companies to pay attention when selling their goods arose from the fact that some products would achieve a high level of sales in some places but record a lower level of sales in other places.
The results of the research done on market mix standardization in multinational companies, therefore, shows that all companies need to look at how best they can combine the 4Ps, so as to come up with a marketing strategy that will be successful in marketing and selling their products. Similarly, this paper will seek to establish how companies located in China can be able to mix the 4Ps that comprise the marketing strategy so as to be able to achieve desired levels of sales.