Identify and explain with examples the three (3) levels of product. Describe how these three levels used by your chosen company to market its products/services.Product can be divided into three level, they are core product, actual product and augmented product. First level, core product is not the tangible, physical product, because core product is the basic benefit that Charles & Keith shoes can bring to user and it is also the main reason why user bought it. Basic benefit of shoes is having comfortable footwear to walk. Second level, actual product is the physical form of the Charles & Keith shoes. At this level, the marketer will set up the design, style, brand, quality and packaging of Charles & Keith shoes. This step is important because is the way marketer differentiated their shoes from their competitor. Third level is augmented product. Augmented product is additional benefit of purchasing Charles & Keith shoes, for instance, good quality and unique design.Identify and describe with examples three (3) pricing strategy use by your chosen company Give four (4) possible reasons why these strategies are being used.Currently, in their stores, they are having 30% discount on selected items. Those items that are on discount are items from last season which they intend to clear its stock. This way, they create short-term sales therefore it will generate higher traffic.To further support that this successful retailer practicesprice lining, Charles & Keiths Signature Label which portrays a woman as modern, fashionable and prestigious considering its exclusivity, thus is priced at a much higher price by 30% as compared to the rest. Charles & Keiths Signature Labels prices ranges from $69.90 to $99.90Charles & Keiths pricing also introduced an element of excitement into shopping and by implementing odd pricing strategy, as all of their products (footwear, bags and wallets) ends with a .90 which induces consumers to perceive it as not very expensive.Being unique in its own ways, Charles & Keith understand buyers mindset well therefore they implement this unique pricing strategy to entice more customers.The four possible reasons why these strategies are being used are as follows: In a perfectly competitive market, the rightprice is the market price. At any price above that,accompany willlose all its customers, and at themarket price, the same company will be able to sellas much of its product as it wishes. Consumers perceive that label of shoes as one that is of better value and quality because of the higher price. In order to introduce another element of differentiation, Charles & Keith started reducing the prices of out-of-season products, in order to attract customers into their stores, where they would buy other products as well as the reduced-price products. Shoppers felt good when they had bought an exceptional bargain, and this would tend to encourage them to return.Define promotional mix. Identify and describe two (2) forms of promotion used by your chosen company.Promotion is used by company to communicate with respect to their product offering with customers.Definition of promotion is advancement of a product, idea, or point of view through publicity and/or advertising to attract new customer and remind the old customer. Promotion mix have five types, they are advertising, sales promotion, public relation, personal selling and direct marketing. Charles & Keith practice in sales promotion, advertising and personal selling. Every Christmas, Charles & Keith have sales promotion to encourage customer buy it as a Christmas present. Every Charles & Keith outlet have promoters, they will face to face introduces their product to customer and assist customer to choose the most suitable shoes size, this is personal selling.

Explain the four (4) types of marketing management philosophy identify and describe with examples the marketing philosophy used by chosen company and describe two (2) advantages of using it Under the marketing management philosophy, we shall study the following four concepts:Production ConceptThose organizations who believe in this philosophy think that if the goods/services are cheap and they can be made accessible at numerous places, there cannot be any problem regarding sale.Product ConceptThose organizations who believe in this philosophy are of the opinion that if the quality of goods or services is of good standard, the customers can be easily attracted. The basis of this thinking is that the customers get attracted towards the products of good quality. On the basis of this philosophy or idea these organizations direct their marketing efforts to increasing the quality of their product.Selling ConceptThose organizations who believe in this concept think that leaving alone the customers will not help. Instead there is a need to attract the customers towards them. They think that goods are not bought but they have to be sold. In Charles and Keith, the sales person have always treat customers with courtesy and respect. Staffs in the shop will approach the customers to see if they need any help and the ambience in the shop has always been great, with the bright lightning and unique store designs. The staffs are well dressed too in manner to be approachable.Marketing ConceptThose organizations who believe in this concept are of the opinion that success can be achieved only through consumer satisfaction. The basis of this thinking is that only those goods/service should be made available which the consumers want or desire and not the things which you can do. For example, alterations under Charles & Keith term is by providing customers who have feet in half sizes, so as to enable them to fit nicely in the shoe because Charles & Keith do not provide shoes at half size. By providing this additional after service would make customers, especially those with feet size at half, satisfied and happy as they feel as though they are not forgotten and ignored for their inaccurate feet size. Identify and briefly describe with examples the five (5) macro-environmental factors explain any two (2) of these factors your chosen faced in Singapore and how the marketing mix strategy could be adopted by your chosen company to overcome them.The macro environment principally consists:Political and Legal environmentThe political-legal dimension of the general environment also affects business activity. The philosophy of the political parties in power influences business practices. The legal environment serves to define what organizations can and cannot do at a particular point in time. For example, Changes in sentiments toward smoking and its related health risks have altered the public's attitude toward the tobacco industry.Socio-cultural environmentThe socio-cultural dimensions of the environment consist of customs, lifestyles, and values that characterize the society in which the firm operates. Socio-cultural components of the environment influence the ability of the firm to obtain resources, make its goods and services, and function within the society. Socio-cultural factors include anything within the context of society that has the potential to affect an organization. Population demographics, rising educational levels, norms and values, and attitudes toward social responsibility are examples of socio-cultural variables.Economic environmentEconomic factors refer to the character and direction of the economic system within which the firm operates. The impact of economic factors may also differ between industries. The balance of payments, the state of the business cycle, the distribution of income within the population, and governmental monetary and fiscal policies are some examples of economic factors include.Technological EnvironmentTechnology is another aspect of the environment a firm should consider in developing strategic plans. Changing technology may affect the demand for a firm's products and services, its production processes, and raw materials. Technological changes may create new opportunities for the firm, or threaten the survival of a product, firm, or industry. Technological innovation continues to move at an increasingly rapid rate. For example, recent developments in the field of microcomputers have dramatically expanded the potential customer base and created innumerable opportunities for businesses to engage in business via Internet.Global or International environmentA final component of the general environment is actions of other countries or groups of countries that affect the organization. Governments may act to reserve a portion of their industries for domestic firms, or may subsidize particular types of businesses to make them more competitive in the international market. For example, one of the most recent joint efforts by governments to influence business practices was NAFTA. The agreement between the United States, Canada, and Mexico was intended to facilitate free trade between the three countries. The result has been a decrease in trade barriers between them, making it easier to transport resources and outputs across national boundaries. The move has been beneficial to many businesses, and probably to the economies of all three countries.In Singapore Charles & Keith adopts several marketing mix strategies to overcome the macro-environmental impact. Technological Environment - Delivery to home or work: Delivery is only available for online purchases, internationally & locally.

Customers who have made purchases in their official website (www.charleskeith.com) would get their products delivered to their preferred address. In their official website, they have also provided ample information on delivery of products both locally & internationally along with the fares for each specific location. Global or International environment - Acceptance of credit cards: Visa, Master Card, American Express, China Union Pay.By having a wide range of credit cards widely accepted in all Charles & Keith store, it will provide convenience for customers to purchase their products especially to tourist who mostly pay by credit cards. This will make payment easier & at convenience. Customers do not necessarily have to worry of their mode of payment as all kinds of credit cards are accepted here.References1. An Analysis Of The Product Asics Running Shoes Marketing Essay. [online] Ukessays.com. Available at: http://www.ukessays.com/essays/marketing/an-analysis-of-the-product-asics-running-shoes-marketing-essay.php2. Macro-environmental Forces - organization, levels, system, examples, model, company, business, competitiveness, system. Available at: http://www.referenceforbusiness.com/management/Log-Mar/Macroenvironmental-Forces.html3. Marketing Concepts Available at: https://sites.google.com/site/joycemuotoh/home/marketing-concepts4. Promotion in the Marketing Mix: Lesson & Quiz | Education Portal. Available at: http://education-portal.com/academy/lesson/promotion-in-the-marketing-mix-lesson-quiz.html#lesson 3 / 6