Sample Essay
Decisions are made about how to target the market and make the product appropriate to the market segment that the company is trying to sell to. Factors that need to be taken into account include; packaging design, materials used, value of the product, quality of the product, product branding, usefulness of the product, and quantity of the product provided. Sainsbury’s product is based around а wide choice of branded products plus cheaper but still good quality own brand products.
Part of the Product section of the mix is the ability to change or develop the product being provided in order to match the requirements of the customers that it is being aimed at. It is essential that а firm can change/alter their products to reflect any change in consumer needs. Sainsbury’s is currently struggling to get the product differentiation required to attract а particular segment of the market (high quality, modest prices) as Marks and Spencer along with Waitrose occupy the high quality high prices segment and Wal-Mart occupies the medium-high quality low price segment. Now more than ever Sainsbury’s needs to realise that the products it provides are at the end of their maturity stage in the product life cycle. The methods for product revival are to; encourage consumer loyalty, distribute the product as widely as it is demanded by consumers, and cut selling prices.
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