4 P's of Marketing Essay Example | Topics and Well Written Essays - 750 words

4 P's of Marketing - Essay Example An increasing effort and funds are invested in R&D to enlarge the number of products and to improve them. Hilti only continues making a product if it is confirmed that it matches the needs of the customers and critically gain a competitive advantage over that of their rivals. These products are of high quality and are highly reliable. This is crucial for the company since it is dealing with deadlines and at the same time maintaining its reputation. The products last for long and are efficient at the construction site. The price for a particular product also determines the success of the company. Thus, the prices should be sensitive to the customer and comparative to those of the other competitors. This makes customers able to purchase the products willingly without the feeling of mistreat by the high price of a product. Hilti Company has ensured the same by having a fair pricing concept that focuses more on the potential of the customer than the volume. It also offers a complete transparency in their prices on their company’s online centers and the business centers. The company is divided into three potential categories, base, middle and top. The base level potential also known as the basis template is where one price of the product is offered for all industries. The mid-level potential is associated with a sophisticated industry template (Brennan, Canning & McDowell, 2010, p.134). Special agreements for the prices are only for the best third of the mid-level customers. Special agreements are offered for the best two-third of the customers on the top level potential. There is usually a special agreement every year to align these potential levels. (Strauss and Frost, R., 2012) The products should be readily available to places, which are easily accessible to the customers. A company may employ methods employed by its competitors or a better channel