Competing products
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When you took BUSN105: Business & Society or similar class, you studied the 4Ps of marketing. We will be covering the original 4 Ps (Price, Product, Promotion, and Place) developed in the 1960s because they have stood the test of time.
Choose two competing products with which you are familiar. These two products will become the basis of the analysis of how two different companies address the 4 Ps.
1. Briefly describe the two products. Include the following:
* Industry, Industry Leaders
* Each product's sales figures or market share
* Fluctuation in sales of products (year to year or seasonally)
2. Research and create a bullet-point table that will compare the 2 products, then go into more depth in the following sections.
Product 1
Product 2
Description of Product
Place (Distribution)
Product Placement
Pricing Techniques
Promotions
Place (Distribution)
* Where are the two products found? Are they in the same outlets?
* Do some outlets exclusively sell one or the other? Provide more detail.
Product Placement
* Compare the product placement of the two brands.
* Consider the target market for each.
Pricing Techniques
* What type of pricing is used to sell each product?
* Are coupons prevalent? Are sales, price reductions common? If so, when?
* Is there a seasonal demand for the product? How does this affect pricing?
Promotions
* Analyze the messages for each product across the various types of types of promotions are used (new media, television, radio, print, outdoor, PR, etc).
* Are the messages consistent across media?
* Are they appropriate for the target market?
Social Responsibility and Ethics have become an important selling point for companies. Since this is a relatively new trend, it makes sense to add this to the analysis of promotions.
* Go to the websites supporting the brands and research the causes that are supported by the products' parent companies. Describe the programs.
* Explain how they fit in with the 4 Ps. Are the corporate community-based projects appropriate for each brand? Explain.
Please submit your assignment.
For assistance with your assignment, please use your text, Web resources, and all course materials. Please refer to the following multimedia course material(s):
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Unit 1: The Marketing Process
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Solution Summary
A discussion on two competing products, Tide and Arm and Hammer, and how they apply the 4 P's of marketing.
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I am choosing Tide and Arm and Hammer laundry detergents. They are easily accessible in terms of product and information. Both are leaders in their industry.
http://www.tide.com/en-US/index.jspx
http://www.armandhammer.com/fabric-care/landing.aspx
The laundry business is a long term industry with roots back before the invention of washing machines. Both of these products have been around for a long time and both are among the industry leaders. Both advertise across media markets and both advertise to people who need to wash clothes, specifically mothers, women, single men, and parents. Both have widely recognized media and advertising campaigns.
Tide is available in many forms such as scents (a relatively new addition), with stain fighters, with bleach alternative. Arm and Hammer also has scents, bleach alternative and comes in a ...
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