International Markets and Promotion Marketing Plan

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Knuedge / Knu Verse Marketing Plan

Marketing Mix

Product

Product strategies play a significant role as product offering gives a fundamental reason as to why the consumers ought to select the company compared to rival companies. These encompass the consumer preferences from the product offering and the needs it satisfies (Ferrell and Hartline, 2014). The product offerings from Knuverse are easy yet powerful, secure yet integratable as well as accurate yet flexible. In particular, the products offered by the company are built on voice technologies that are relied upon by the most demanding military consumers (Knuverse Website, 2016).

Pricing

Pricing strategies play a pivotal role in the marketing mix taking into account that, ultimately, this accounts for the revenue generated by the firm. Therefore, in the end, pricing can influence a business' success or sinking. More so, pricing is not a sole idea but rather a manifold one with various implications for the manufacturer, the intermediate, and the end-user consumer (Kotler et al., 2009). A key strategy used by Knuverse is competition pricing. In the contemporary, companies in the technological realm are facing a great deal of competition, particularly with the advancement of technology. Fundamentally, Knuverse has to ensure that the pricing of its products is competitive with respect to rival firms in the marketplace. Bearing in mind that the product offering has distinctive features, this will make the company become largely competitive.

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What is more, this will serve as an entreaty to entice more consumers. Nevertheless, the company will be ardent on making certain that its product is not priced extremely low. This is because consumers tend to relate such prices to products of low quality (Boone and Kurtz, 2015). Another significant pricing strategy that will be employed by Knuverse will be product line pricing strategy. The company plans on entering other fields and areas such as banking and manufacturing aside from the military field. Therefore, the consumers that purchase all products for its system, such as Audio PIN, Active, DNA and Background will be granted cheaper prices compared to those procuring simply one product (Ferrell and Hartline, 2014; Knuverse Website, 2016).

Promotion

Promotional strategies take into account making certain that consumers everywhere recognize the brand of a company. This approach also serves as a way of attracting new consumers. The following are some of the strategies for promotion that will be utilized by Knuverse.

Advertising

These strategies will be long-term and purposed to not only increase sales, but also build the company's brand name. Knuverse will make use of magazine advertisements, announcements on the radio and television as well as scripted commercials (Hose, 2016).

Promotion

These strategies are temporary and immediate. Some of the promotion strategies that will be used….....

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