Overall Effectiveness of the Marketing Strategies:
Überbartools achieves the basic requirements a product needs such as design, name/logo, warranty or guarantee, packaging, labelling and exclusive features. The market price is a logical approach chosen in the pricing strategy as it determines the interaction between the quantity that customers are willing to purchase and the quantity that producers are able to supply. Mr Silvers said “The approach is proving to be effective as our financial goals are being achieved.” Furthermore, the promotion strategies adopted by the Überbartools are successful, especially personal selling and sales promotion. However, it is suggested that the company could more frequently use Facebook and Instagram; by displaying their products more regularly and offering more exclusive deals. The company could try and have more direct distribution to venues, which may lead a reduction in the price of barware; so more businesses would be willing to purchase their products.
Above all, the marketing strategies of Überbartools have often been effective through the company’s goals being achieved.
Above all, the marketing strategies of Überbartools have often been effective through the company’s goals being achieved.
Possibilities of Expanding
The possibilities of expanding Überbartools are high as the company is still in the growth phase. Überbartools is considering opening a warehouse in America in Seattle next year in order to sustain the rapid growth of their company. The proposed idea will significantly reduce the transportation costs as now goods are being freighted from Guangzhou and Sydney to North America.
In addition, Mr. Silvers identified that there has been a continual rise of suppliers purchasing Überbartools products and that the market share is increasing each financial year.
In addition, Mr. Silvers identified that there has been a continual rise of suppliers purchasing Überbartools products and that the market share is increasing each financial year.