abhishreshthaa
Abhijeet S
Marketing Mix of United Technologies Corporation (UTC) : United Technologies Corporation (UTC) (NYSE: UTX) is an American multinational conglomerate based in Hartford, Connecticut. It researches, develops, and manufactures high-technology products in numerous areas, including aircraft engines, helicopters, heating and cooling, fuel cells, elevators and escalators, fire and security, building systems, and industrial products, among others. UTC is also a large military contractor, producing missile systems and military helicopters, most notably the UH-60 Black Hawk helicopter.[1] In 2005, it received over $5 billion in military contracts. Louis R. Chênevert is the current CEO.[2] The "Gold Building" at One Financial Plaza, in Downtown Hartford, is the headquarters of United Technologies.
The core group of United Technologies companies was founded in 1929 as United Aircraft and Transport Corporation, by the merger of the Boeing Airplane Company, Boeing Air Transport, Chance Vought, Hamilton Standard, Pratt & Whitney, and Sikorsky Aircraft. As a result of the Air Mail Act in 1934, United Aircraft and Transport broke up into three independent companies: Boeing, United Aircraft, and United Airlines. Vought was spun off as an independent business in 1954, but otherwise, United Aircraft maintained its original corporate structure and concentration in the aerospace and defense industries well into the 1970s.
United Aircraft changed its name to United Technologies on May 1, 1975, and the next year acquired Otis Elevator. In 1979, Carrier Refrigeration and Mostek were acquired; Mostek was sold in 1985 to the French electronics company Thomson. United Technologies acquired Sundstrand Corporation in 1999, and merged it into UTC's Hamilton Standard unit to form Hamilton Sundstrand. Two years later, UTC entered the fire and security business by purchasing Chubb Security, which was followed in 2005 by Kidde. Also in 2005, United Technologies acquired Boeing's Rocketdyne division, which was merged into the Pratt & Whitney business unit.
* 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.
The core group of United Technologies companies was founded in 1929 as United Aircraft and Transport Corporation, by the merger of the Boeing Airplane Company, Boeing Air Transport, Chance Vought, Hamilton Standard, Pratt & Whitney, and Sikorsky Aircraft. As a result of the Air Mail Act in 1934, United Aircraft and Transport broke up into three independent companies: Boeing, United Aircraft, and United Airlines. Vought was spun off as an independent business in 1954, but otherwise, United Aircraft maintained its original corporate structure and concentration in the aerospace and defense industries well into the 1970s.
United Aircraft changed its name to United Technologies on May 1, 1975, and the next year acquired Otis Elevator. In 1979, Carrier Refrigeration and Mostek were acquired; Mostek was sold in 1985 to the French electronics company Thomson. United Technologies acquired Sundstrand Corporation in 1999, and merged it into UTC's Hamilton Standard unit to form Hamilton Sundstrand. Two years later, UTC entered the fire and security business by purchasing Chubb Security, which was followed in 2005 by Kidde. Also in 2005, United Technologies acquired Boeing's Rocketdyne division, which was merged into the Pratt & Whitney business unit.
* 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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