abhishreshthaa

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Marketing Mix of Steinway & Sons - Steinway & Sons, also known as Steinway, (pronounced /ˈstaɪnweɪ/ ( listen)) is an American and German manufacturer of handmade[4] pianos, founded in 1853 in New York City, by German immigrant Heinrich Engelhard Steinweg (later Henry E. Steinway).[5] The company's growth led to the opening of a factory and employee village in what is now Astoria, Queens in New York City,[6] followed by a second factory in Hamburg, Germany, in 1880.[7] Its early success has been credited both to the quality of its instruments and its effective marketing, including the company's introduction of Steinway Halls (in German: Steinway-Häuser).[8]

Heinrich Engelhard Steinweg's dedication was: "To build the best piano possible".[9] He established at his company three basic principles: "Build to a standard, not a price", "Make no compromise in quality", and "Strive always to improve the instrument".[10] Research and inventions by the company have earned it so far around 130 patents,[11][12][13] a greater number than any other piano company.[14]

After merging with the Selmer Company in 1995, Steinway's current affiliates include the Boston and Essex lines of pianos. The Selmer Company, today named Conn-Selmer, is a subsidiary of Steinway.

* Product
* Price
* Place (Distribution)
* Promotion

By using variations of these four components you have the ability to reach multiple consumers within your target market.

Creating a successful marketing mix that will increase results often takes experimenting and market research. There are many methods that can be used, both in person and the use of impersonal presentations. The key is to not always depend on "one" mix always explore other avenues. The combining and coordination of these elements will be more effective than depending on one.

You must coordinate all elements so that the prospective consumer is not being sent mixed messages that can cause confusion. Do all of your elements contain the same message? Take for example the following scenario:

We are a company that specializes in marketing services and we cater to physicians, however the products we offer fulfill the needs of lead generation for lawyers. Our price is geared an enterprise budget and our magazine advertisements and promotions are being placed in magazines that have a subscription base of senior citizens.

Do you see a problem with this? While in this scenario it is very obvious, I guarantee that by looking at your marketing mix you may find discrepancies that surprise you. Always make sure that your marketing mix has a message that speaks in unison.

For instance make sure that if you have a practice that caters to a niche market that your product is geared towards the need of that market, your price is within the budget of that market, you are distribution your product or service where it will be seen by that market, and gear your promotion to solve the problems that they are encountering.

If you remember one thing from this article it is that one of the main keys to the success of any marketing program is the ability to work effectively in shaping marketing mixes that meet the nature and needs of your specified target market.
 
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Marketing Mix of Steinway & Sons - Steinway & Sons, also known as Steinway, (pronounced /ˈstaɪnweɪ/ ( listen)) is an American and German manufacturer of handmade[4] pianos, founded in 1853 in New York City, by German immigrant Heinrich Engelhard Steinweg (later Henry E. Steinway).[5] The company's growth led to the opening of a factory and employee village in what is now Astoria, Queens in New York City,[6] followed by a second factory in Hamburg, Germany, in 1880.[7] Its early success has been credited both to the quality of its instruments and its effective marketing, including the company's introduction of Steinway Halls (in German: Steinway-Häuser).[8]

Heinrich Engelhard Steinweg's dedication was: "To build the best piano possible".[9] He established at his company three basic principles: "Build to a standard, not a price", "Make no compromise in quality", and "Strive always to improve the instrument".[10] Research and inventions by the company have earned it so far around 130 patents,[11][12][13] a greater number than any other piano company.[14]

After merging with the Selmer Company in 1995, Steinway's current affiliates include the Boston and Essex lines of pianos. The Selmer Company, today named Conn-Selmer, is a subsidiary of Steinway.

* Product
* Price
* Place (Distribution)
* Promotion

By using variations of these four components you have the ability to reach multiple consumers within your target market.

Creating a successful marketing mix that will increase results often takes experimenting and market research. There are many methods that can be used, both in person and the use of impersonal presentations. The key is to not always depend on "one" mix always explore other avenues. The combining and coordination of these elements will be more effective than depending on one.

You must coordinate all elements so that the prospective consumer is not being sent mixed messages that can cause confusion. Do all of your elements contain the same message? Take for example the following scenario:

We are a company that specializes in marketing services and we cater to physicians, however the products we offer fulfill the needs of lead generation for lawyers. Our price is geared an enterprise budget and our magazine advertisements and promotions are being placed in magazines that have a subscription base of senior citizens.

Do you see a problem with this? While in this scenario it is very obvious, I guarantee that by looking at your marketing mix you may find discrepancies that surprise you. Always make sure that your marketing mix has a message that speaks in unison.

For instance make sure that if you have a practice that caters to a niche market that your product is geared towards the need of that market, your price is within the budget of that market, you are distribution your product or service where it will be seen by that market, and gear your promotion to solve the problems that they are encountering.

If you remember one thing from this article it is that one of the main keys to the success of any marketing program is the ability to work effectively in shaping marketing mixes that meet the nature and needs of your specified target market.

Hey abhi, i am also going to share some important information on Steinway & Sons which would help others. Well, i also appreciate your work for sharing your marketing mix report on Steinway & Sons.
 

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