Reference no: EM131743415
Marketing Mix DB (Discussion Board)
Activity Overview: This activity asks students to apply the marketing mix concepts to a local business.
Step 1: Pick one of the restaurants you went to recently.
Step 2: Access that restaurant's website.
Step 3: Using their website, identify each part of the marketing mix. Does the business do a good job creating a good mix? How do they achieve the marketing concept (how do they monitor their consumers' wants and needs and provide what consumers want)?
Post on the DB:
1. The marketing mix for the company (4Ps);
2. How they achieve the marketing concept;
Example:
Product
Sadie's offer authentic New Mexican cuisine. Sadie's is proud to point out that it has been in business for over 60 years which is a valuable way to differentiate itself from other competitors that offer the same type of food.
Price
Sadie's prices are about what typical New Mexican restaurant charge with a lean towards the pricer side for certain dishes. The slight price increase is probably because of the quality and reputation.
Promotion
Sadie's does not have a lot of promotion but utilizes Facebook and a website. They rely on customer satisfaction and word of mouth by winning awards like the Readers Choice Award from the Albuquerque Journal, 4 years in a row as stated on their website. They successfully sell their salsa which would be promotion every time someone goes to their fridge. They reply to yelp reviews as well.
Place
Sadie's has 3 locations. Their original 4th street location has a completely different feel than their other two locations as it was specifically designed to be Sadie's as the other two locations were other restaurants prior to becoming Sadie's. They also distribute their salsa through every grocery store in Albuquerque.
I think Sadie's achieves a marketing concept in a unique way as they are not always promoting. They have built strong brand recognition with local customer loyalty and reliability.
2. Promotion Mix DB
For this DB assignment, we will be need to choose a small business in town that you really like. Your job is to create a Promotion Mix for this business. Remember, the promotion mix is outlined in Chapter 14.
What ideas do you have for each category? (See Figure 14.1- The Promotional Mix) Please be creative and outline your idea so that this business can actually carry out your ideas.
Post your Promotion Strategy for the business on the DB (subject: the business name). NO REPEATS! If someone already picked the one you want, pick another one.
Don't forget to peer review at least five postings with helpful responses. The only ones taken so far are the Talin market and Music go Round if that helps.
EXAMPLE:
Advertising
• Social media advertising would be the most important forms of advertising. Independent artists promote their music on social media and a presence on all platforms(Facebook, Instagram, Twitter, and Snapchat) would be important. Indie artists do not have the funds typically for new equipment and would utilize the cheaper prices of used equipment.
Public Relations
• Donating an instrument to a school would raise awareness and be doing something positive within the community.
• Partner with musicians to host free lessons or workshops.
Sales Promotions
• Discount stock that has been on the shelf for a long period of time.
• Pro audio becomes outdated often, offer discounted prices close to new updates of keyboard models and pro audio equipment.
• Apply attractive store credit prices with trade-ins rather then cash payouts. (helps build inventory and saves liquid cash)
Personal Selling
• A knowledgeable sales staff is crucial to the success of the business.
• Have hands on equipment for musicians to try and see what fits their needs or inspire them.