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Essay / The Marketing Mix - 1203
The marketing mix, which includes price, product, place and promotion, are essential tools that play a vital role in determining the fortunes of a business. A proper marketing mix can mean profit, while an unbalanced marketing mix can be the downfall of a business. A simple search for “Bopal” brings us to the Bhopal gas tragedy that killed several thousand people in India and left thousands more disabled. There may be many others who are still suffering the consequences of this disaster. Before launching a new product in the global market, it is the responsibility of every company to carry out research. A clean research objective will ensure that the company has the right information to launch its product, in the right place. The case study provides us with the product and the location. Q: What do we offer? A: Insecticide named “Bopal” Q: The target market/potential customers? A: Customers located in India. A research study should have been conducted based on these key terms. This will address any key issues the business may face and provide solutions and recommendations to avoid potential losses. Primary research such as surveys, interviews, focus groups would have specifically collected the data needed for Umberto's insecticide before its launch. This will be reliable, qualitative and directly linked to the product, also focusing on the name of the product. As this product was to be launched in India, any disruption in the name would have been mentioned in the middle of paper......languages spoken in India. Include honest, heartfelt thoughts about the disaster as it relates to their culture and Umberto's thoughts on the issue. Identify the pain and suffering that residents would like to hear about. Contact the community, charities and political parties and ask for their help in resolving the problem, which would help clear up misunderstandings and free the business from negative publicity. Some products could have been distributed free of charge to those who were affected by the Bopal incident and who are currently engaged in agricultural activity. This process can be done after announcing a different name for the product. They could suggest different names and ask local people to vote for the best name. This would be beneficial to the company and would go some way towards rectifying the level of negative publicity..