As you have now seen, marketing consists of many different disciplines and functions. However, as a teacher, I like to break the essentials into what I call the "Marketing Triangle." The Marketing Triangle consists of advertising (the stuff that you have to pay for-- TV commercials, print ads, billboards, etc.); publicity (free media coverage); and P.R. (personal relationships). An easy way to remember it is this is, "With advertising you PAY, with publicity you PRAY (that it will be covered and accurate), and with P.R. you PLAY." Think of the business you work for, or a Fortune 500 company you are familiar with. Does it utilize all three sides of the Marketing Triangle? Describe in detail how it does or does not.© BrainMass Inc. brainmass.com October 25, 2018, 8:12 am ad1c9bdddf
My organization does a great job of utilizing the Marketing Triangle. I work for a regional grocery company and it advertises by placing advertisements in the local papers, giving sales flyers to customers, placing bottle toppers on liquor, displaying product information at the gasoline pump, adding starburst informational ...
This solution discusses the marketing triangle (advertising, publicity, and personal relationships) in regards to a particular business and its use of the triangle.
Advanced Entrepreneurship: Products and Marketing for Triangle Solutions
Products & Product Marketing
Consider the following scenario:
Develop a written proposal outlining a specific product or service idea you have as the product manager for Triangle Solutions. Triangle's company type and product area have been left unspecified in order to allow you creativity in invention of your own product ideas and exploration of areas of interest in the market. You may not use the same area or idea used in previous assignments. Be sure to include the following in your response:
1. In the proposal, make a case for your new Triangle Solutions product that clearly states the need in the market, the pain points felt by customers, and the solution the new product will deliver.
2. Research the industry and market for the product, providing data on its size, growth, and so forth. Ibisworld.com or Standards and Poor's are great industry and market resources.
3. Provide some ideas for marketing strategies may be used to effectively introduce this product to the market. What channels will be used? What aspect(s) of the product should be emphasized? How will it be priced? How will these approaches achieve results?
4. Approach this from an entrepreneurial prospective as if you are launching a new venture without your company's support.View Full Posting Details