After deciding overall marketing strategy, the organization is ready to begin planning the details of the marketing mix, one of the major concepts in modern marketing. Before analysing application of Marketing Mix about RANG we should know about, what is marketing mix? Marketing mix is the set of controllable tactical marketing tools –product, price, place, promotion- that the firm blends to produce the response it wants in the target market. Now below describe about marketing mix (4p) of RANG.
RANG is one of the biggest fashion house in Bangladesh. They produce different type of product such as dress, ornaments, home décor accessories etc. It has powerful effect on our country’s fashion industry. Their slogan is “WE PAINT THE TIME”. According to their corporate slogan they try to produce quality product. For producing different type of product they basically follow our culture, tradition, various occasions etc. RANG always try to produce various type of product according to their changing need. They always trust that without meeting customer needs they cannot meet with their strategic goal. They generally segment their market according to age, gender, generation, as well as customer”s various need. They produce product for different type of customer, such as..... 1)Men’s product
6)Different type of ornaments
Men’s product: gent’s Fatua,Pajama,Pangabi,Shirt etc Women ‘product : sharee ,sallower kamij, fatua, etc
Teenager’s product: spcial fatua ,t-shirt for various occasion such as pahela baishak, pahela falgun, Rabindra gainti, mother’s day etc, and various western dress. kids product: salawar kamiz,fatua,panjabi , t-shirt etc. House decoration : Bad cover, cousion ,showpice,etc
Different type of ornaments like: Nickels, ear ring that made by pora mati, imitations, citi gold, bracelet etc
For their product rang basically use natural color, block, chumki- puti, natural and vegetable dying etc. RANG always try to maintain product variety, quality, design, feature, brand name attractive packaging and good service etc.
Price is very important factor for any type of business, because price is the only element of marketing mix that provide the source of money, but defining the appropriate price is very important task for any organization, because when one do not follow some strategic rules of price they cannot gain the main objective, So that one marketer should follow some rules for determining appropriate price. RANG also follow some appropriate strategy of establishing perfect pricing to sustain as a successful organization. They always try to give their product to customer at comfortable price. They generally set their price according to their production cost. Because they believe that by taking excess price from customer, they cannot get customer satisfaction that will be a hindrance of Rang success.
They always try to give their product to customer at least price. They generally set their price according to their production cost. Because they believe that by taking excess price from customer, they they cannot get any success because if consumers are not capable to pay that much money for their product then for whom they produce their product. Actually they try to capture the maximum market where their target customer will be the middle class as well as upper middle class people and people of all ages.
Place is very important factor for any organization. Without the application of place one organization cannot follow their marketing tool appropriately. So RANG always try to follow this requirement, they use various distribution channel for marketing their product. For marketing their product they coverage many area in Dhaka city, (mentioned in appendix). They select many appropriate locations according to their customer...