Explain the importance of making effective product

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Reference no: EM13727819

Marketing Mix

- Define Marketing mix (product,price,place,promotion). Include in-text citation here
- State that the Marketing mix comprises of the 4P's.
- Explain that each of the 4P's is to be discussed in the following section

Product

- Define Product. Include in-text citation here.
- Explain the importance of making effective product decisions for an organisation. (At lease 2 here)
- For the product/company explain :
How the THREE elements/levels of the product are used to suit the needs & wants of the target segment.
Explain waht type of product your organisation is selling. How does this impact on the marketing process?
This section must CLEARLY express how your organisation's product attributes, branding, packaging, labelling and product support services match the needs & wants of the target segment.

Place

- Define Place. Include in-text citation here.
- Explain the importance of place decisions for organisation. (At least 2 here).
- Explain the type of distribution used for your organisation. Direct or indirect and be sure to include a diagram here.
- Explain the diagram.
- Explain the advantages/disadvantages of using the direct/indirect distribution.
- Explain the type of distribution strategy used in your organisation. ( Intensive/exclusive/selective ).

Price

- Provide a definition of Price. Include in-text citation here.
- Explain that Price is the P that impacts on revenue. Further elaborate on the importance of effective Pricing strategies. (At least 2 here).
- Explain which of the 5 pricing strategies is used by your organisation. Justify it.
- Explain ( at least 2 ) internal & external considerations that impact on your organisation's price decision. ( Overall Marketing Strategy, objectives, and Mix. Organisation Considerations. The Economy. The Government. Social Concerns. The Market and Demand. )

Promotion

- Provide a definition of Promotion. Include in-text citation here.
- Discuss if your organisation uses push/pull strategies. Justify it.
- Discuss the importance of effective promotional strategies. (At least 2 here).
- Discuss which of the 5 promotional tools are used by the organisation. Justify it.

Reference no: EM13727819

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