I'm asked to write a paper and needed help on how to approach the assignment.
I would like to write about Starbucks Inc. here's the question. I want to know where can I find specific answers to these questions.
Marketing Mix Paper
Using information from at least three different sources, prepare a 1,400-1,750-word paper in which you describe the elements of the marketing mix (product, place, price, and promotion). In addition, select an organization with which you are familiar and describe how each one of the four elements of the marketing mix impacts the development of the organization's marketing strategy and tactics. Describe how each element is implemented. Be sure to specifically identify your selected organization and the industry in which it exists
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Welcome to brainmass! I will be glad to help you! I can't actually write the paper for you, but I can guide you and provide you with enough info to writ the paper on your own.
There are actually 5 Ps - I am adding in people since it helps determine your promotion.
The 5 Ps are:
I will explain how all of these 5 items in the marketing mix are interconnected. "People" essentially dictates place and promotional tactics. People are also be attracted to certain products, which is why there are different segments of individuals who will be interesting in trying your product.
When describing "people" these questions should be answered: Have consumers seen or heard of our new product? Who should we be targeting? How should we be marketing our product?
It is very important to educate your clients of your product, and to create a need for them. How can you do this - first you need to know who you clients are. This is one of the first steps in the marketing mix, since you got to understand who you are selling to, and create a marketing campaign that will target these individuals. You need to firstly conduct market research to see who will like your product. If you are selling a new type of coffee drink for example, you might assume that your target audience would be college students, but then you might find that there is an alternative target audience who would be interested in the product such as business men or stay at home mothers.
Once you know who would buy your product, you then have to teach them about it by promoting or marketing them in locations that will attract their attention. To reach moms you could put an ad in a parenting magazine. Place a radio ad on a local college radio station or book space in ...
NOTE: this posting provides info on how to write a paper, it does NOT contain an essay.
This posting looks at starbucks's and the 5'Ps of marketing