Product Positioning and Marketing Mix
Not what you're looking for?
What is product positioning? Give an example of how each of the four components of the marketing mix could be used to position a new minivan for the well educated, young, middle income family with two or more children.
Purchase this Solution
Solution Summary
The solution examines the product positioning and marketing mix for a new minivan.
Solution Preview
Product positioning is how marketers 'position' the product in the eyes of the consumer. It is the way that they describe the features, the way that it is showcased in advertising or in the store, the price of the product... It is the way that the product reacts to competition, and it is tailored made to its target audience.
How, I will describe briefly the 4-Ps and then link it all together.
In essence, there are 5 pillars of marketing, which consists of your marketing mix. Having 5 pillars is more comprehensive then the traditional 4-P views, since the 5th P as "people" which is very important - it is used to segment and target your market. In this case, our target is specified: well educated, young, middle income family with two or more children
Let's first go over the 5-Ps:
People: who would purchase your product
Product: You your product, and explain the key features and benefits
Place: where you will sell the products (high end retailers? online? mass production)
Price: how much can you charge for the product
Promotion: how will you promote the product
Product: We have a minivan as our product. Mini vans come in all different forms - we can have the basic van that is used to transport your family from point a to point b, OR you have a have one that is luxurious with leather seats...
Since this is a middle income family, I would suggest a ...
Purchase this Solution
Free BrainMass Quizzes
Production and cost theory
Understanding production and cost phenomena will permit firms to make wise decisions concerning output volume.
Learning Lean
This quiz will help you understand the basic concepts of Lean.
Change and Resistance within Organizations
This quiz intended to help students understand change and resistance in organizations
Six Sigma for Process Improvement
A high level understanding of Six Sigma and what it is all about. This just gives you a glimpse of Six Sigma which entails more in-depth knowledge of processes and techniques.
SWOT
This quiz will test your understanding of the SWOT analysis, including terms, concepts, uses, advantages, and process.