Marketing management assignment essay on: Kobo
Introduction
Kobo has been developed a novel e-reader for all those who are in love with books & like reading. The new e-reader has been designed with various features & is currently available in the UK market. The e-reader has been referred to as one of the most handy & easy to carry options for those who like reading while travelling from one place to another. The reasonable prices along with the various distinctive features have helped to attain high levels of prominence as compared to its competitors. This paper majorly takes into consideration the four P’s of the marketing mix in detail & the various strategies which would help them to attain importance in the years to come.
About the Product
The Kobo e-readers refer to one of the e-book reader which has been manufactured by the people of UK. The Kobo book e-reader is an anagram of ‘book’. It is a new product for the UK market & for all those who love reading. It is a movable reader which provides one of the most memorable experiences for the book lovers. It helps the readers to read, download the books & various other materials. Kobo e-reader provides the consumer to access as well as find out various literary reading materials (Kotler & Armstrong, 2010).
The Kobo e-reader is designed in such a manner which would provide the consumers a comfortable reading experience, anywhere & everywhere. The major strength attached with Kobo e-reader is that it is portable because of the size & the weight attached to it.
Marketing Mix (4 P’s): The 4P’s of marketing mix i.e. Price, Place, Product & Promotion in respect to Kobo e-reader has been discussed in the following portion of the report. It is as under.Place: In order to increase the levels of sales for Kobo e-reader, the place opted was UK market. It must be noted that, UK market was considered one of the apt places to sell Kobo e-reader. This is because; people in UK are more into reading as compared to any other country. Supplying Kobo e-reader has led to increase the brand image for the same (Perenson, 2011). The availability of Kobo e-reader would be seen on the official site i.e. http://www.kobobooks.com/touch. All the details regarding the product have been provided over this website.
Price: Price refers to one of the key player for any consumer while buying a particular product. Price refers to one of the main bonus. It has been seen that, the Kobo e-reader is less expensive as compared to the Amazon – Kindle (Kotler & Armstrong, 2010). Due to fewer prices attached to Kobo e-reader, more people prefers to buy Kobo as compared to Kindle. The price for a basic Kindle & Kobo would help the readers to see why majority of people prefer Kobo. The prices for the gadgets are £100 & £139 respectively (Kobo, 2011). The main focus for Kobo e-reader is to provide its customers with less expensive & convenient products as compared t its competitors. As mentioned above, the price of Kobo e-reader is less competitive as compared to Amazon – Kindle, Sony – e book reader & Kindle DX.
The pricing strategies which have been adopted by Kobo e-reader are as under. They are as follows:
Þ Skimming or Penetration Pricing:
The pricing method which is used by Kobo e-reader is penetration pricing. This means that the e-reader offered would be priced high initially in order to recover the amount of marketing & producing a novel product. This would refer to one of the best strategies for early adopters. This type of the pricing strategy should be applicable for a limited period of time or else the customers would tend to shift to its competitors such as Kindle, Kobo DX, etc (Berry, et al 2007).
Product: The Kobo e-readers refer to one of the e-book reader which has been manufactured by the people of UK. The Kobo book e-reader is an anagram of ‘book’. It is a new product for the UK market & for all those who love reading. It is a movable reader which provides one of the most memorable experiences for the book lovers. It helps the readers to read, download the books & various other materials. Kobo e-reader provides the consumer to access as well as find out various literary reading materials (Kotler & Armstrong, 2010).
If the customer is looking for a product to read & download the books along with other material then it would be prescribed to buy a Kobo e-reader. Kobo e-reader would be referred to as one of the most apt choice for the consumers’ sine it takes into consideration all the minute things which would be required by the reader. The Kobo e-reader is designed in such a manner which would provide the consumers a comfortable reading experience, anywhere & everywhere. The major strength attached with Kobo e-reader is that it is portable because of the size & the weight attached to it (Kobo, 2011).
Promotion: Promotion refers to one of the major P in case of the entire marketing mix. It plays a crucial role in the overall success of the product. Kobo has a strong relationship or communication with its customers. This helps to popularize the product in the eyes of the customers. Choosing right type of a promotional strategy would be helpful to target right kind of people. Some of the promotional activities which have been used by Kobo e-reader are as under:
Þ Unlimited Usage
Þ Extended Space
Þ Time based special offers
Þ Opt various applications which could be used over the e-reader
Þ Provide a reading life network
Þ The collection of books are huge which attracts the users
Þ Touch screen display
Recommendations: Some of the recommendations have been highlighted as under.
Þ Despite of the various advantages & benefits, Kobo e-reader requires certain improvements in their marketing mix (Berry, et al 2007)
Þ A better marketing mix shall be used by Kobo e-reader.
Þ Kobo shall focus upon the various above the line & below the line promotional activities. This would help to increase the share within the e-book market.
Þ Partnerships shall be made with the media. This would help to enhance the levels of delivery & add on as a benefit for the same.
Þ An aggressive pricing strategy shall be used which would help to uphold the leadership levels within a particular market segment.
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