Reference no: EM131118454
Pick a good or a service that you are interested in and prepare a report on the Marketing Mix actually used for that product. You are required to choose a product by brand name. You may choose a well-known name like Tommy Hilfiger, Nike, and Coke or a lesser-known brand such as Louisville Slugger, Peavey, or Furby. It can be a familiar product such as a soft drink, automobile, backpack, a piece of sports equipment or a computer; or one that is of special interest to you that is less familiar to most of us such as deer stands, paint ball equipment, or a musical group. The choice is yours but my one criterion is just to ensure that there is enough marketing information readily available on the good or service. Discuss this product in a single report describing Product, Place, Promotion, and Price. Divide the report into four sections and devote at least one page to each section.
1. Product
This section is the heart of the marketing mix and should describe the product offering and product strategy. The product includes not only the physical unit but also its product depth and breadth of the line/service, package, warranty, after-sale service, brand name, company image, value and many other factors like the products life cycle stage. See Chapters 10, 11 and 12
2. Place
The section should describe the Place associated with your product. Place is concerned with making products available when and where customers want them. A part of place is physical distribution, which involves all the business activities concerned with storing and logistical transporting of the finished products distribution channel and channel management. The goal is to make sure that the products arrive in usable conditions at designated places where they are needed. See Chapters 15 and 16.
3. Promotion
This section should describe the Promotion associated with your product. Promotion includes advertising, public relations, sales promotion and personal selling tactics that create attention, interest, desire and action. Promotion's role in the marketing mix is to bring about mutually satisfying exchanges with target markets by informing, educating, persuading and reminding them of the benefits of an organization or product. See Chapters 16, 17 and 18
4. Price
This section should describe the Pricing strategies associated with your product. Price is what a buyer must give up to obtain a product. The "value" they see associated with it versus competition which fosters lower pricing. What pricing strategy is used also relates to distribution availability (supply and demand). It is often the most flexible of the four mix elements- the quickest element to change. It is an important competitive weapon and is very important to the organization because price multiplied by the number of units sold equals total revenue for the firm. See Chapters 19 and 20.
A roasting-salting machine to produce roasted walnuts
: Simple SA has just purchased a roasting/salting machine to produce roasted walnuts. The finance director asks for your advice on how the company should calculate the depreciation on this machine. Details are as follows:
|
What assumptions about the two populations
: What assumptions about the two populations are necessary in Problem 10.2? 10.4 Referring to Problem 10.2, construct a 95% confidence interval estimate of the population mean difference between and 10.5 Referring to Problem 10.2, if and how many de..
|
Business to competitors undercutting pricing
: You are the Vice President of Marketing. Over the past week you have received calls from 5 of the 8 regional sales directors indicating they have lost business to competitors undercutting pricing.
|
How do you keep others from invading your strategic position
: How can you BETTER KNOW (LOGICALLY SUPPORT OR ‘PROVE') that you actually developed a good strategy that is: 1) A unique position (a unique specific fit), 2) Excludable (keeps others from taking away your advantage) and 3) Sustainable over a long t..
|
Describe the product offering and product strategy
: This section is the heart of the marketing mix and should describe the product offering and product strategy. The product includes not only the physical unit but also its product depth and breadth of the line/service, package, warranty, after-sale..
|
Prepare strategy-evaluation report
: Prepare a Strategy-Evaluation Report for PepsiCo Purpose This exercise can give you experience locating strategy-evaluation information. Use of the Internet coupled with published sources of information can significantly enhance the strategy-evaluati..
|
Admitting edelman to the firm as a partner
: At April 30, partners' capital balances in YBG Company are: Younger $30,000, Beyer $16,000, and Giger $10,000. The income-sharing ratios are 5:3:2, respectively. On May 1, the YBGE Company is formed by admitting Edelman to the firm as a partner.
|
Rearrange the sentences into the correct order
: Instructions: Use the following sentences to write a paragraph. You must rearrange the sentences into the correct order in a paragraph so there is unity
|
Role of marketing manager
: Assume the role of Marketing Manager. Select a product (good or service) that is sold in the United States and has sales opportunities in a foreign market. Apply your critical thinking skills and the knowledge you have acquired throughout this cou..
|