Marketing is a management process where manufactured goods and services flow from initial concept to the finished products consumed by the customers. The process involves the coordination of the product, price, place and promotional strategy which are the major 4 P’s of marketing (Steve, 2013). The product as a marketing strategy involves: identification of the product to be processed, selection and development. It is followed by determination of the appropriate price to be charged for the products and services. The process is followed by identification of the right distribution channel which may best reach the customers. The process end’s with the company or the management developing and implementing the appropriate promotional strategies. The work will illustrate how Boeing Aerospace Company communicates its marketing principles to its customers.
Boeing is an aerospace company based in United States and is the world leading manufacturer of jetliners, commercial airplane, security systems and the space. The company is the main supplier of the airlines to the United States government and the other customers across the globe. The company’s products and services are believed to be tailor-made (Steve, 2013). Given that traffic and economic growth rate vary with region, the company normally segment it customers according to regions. With the nature of economy of Europe and North America, Boeing Company believes they are the major source of market for their airplanes. The segmentation process by the company would enable it to determine the demand pattern of each segment.
The Boeing Company is best in positioning and targeting its customers. When buying a new plane from the company the customer must put into consideration the distance and capacity of the aerospace to purchase. In order to target all the customers, the company position itself in the various segments of the products which are based on the distance over which the airplane can cover and the capacity of the airplane. Being an international company, Boeing Company understands the buying behavior of the domestic and international buyers (Steve, 2013). The company always makes sure that once a company purchase its products it later comes for an additional products. In addition, it’s pricing strategy for its products and services are normally linked to the environment analysis. The Company understands that saving money is usually vital in repossessing the customers. Despite serving in a duopoly market the company is always price sensitive and it charges prices which are affordable and reliable to its customers. In conclusion, Boeing Company is the world leading company in implementation of the marketing strategy in the global market as shown in the above discussion.
Steve, J. (2013). Boeing Company marketing and communication strategies: A Global Aerospace Brand. New York Publishers