I have to Create a product or service that is not an existing brand OR select a product or service from the following list: cell phone, video game, motorcycle, perfume, hair salon, toothpaste, website design consulting business, online dating service, auto body shop.
I have to develop an environmental analysis, marketing strategy, and marketing mix for this product.
Consider if your selected product is affected by environmental factors (Political, Economic, Socio-cultural, Technological, Competitive). If so, how?
I also have to include a description of the target market and positioning (how customers perceive your product or service).
I also have to include a detailed overview of each element of the marketing mix (product, price, distribution, and marketing communications).
The response addresses the queries posted in 1588 words with references.
//Taking up the Environmental Analysis and to form the marketing strategy for a particular product, it is essential to select a particular product of a Company. For the given discussion, the product selected by me is 'toothpaste'. For this discussion paper, we have to identify the four P's of the marketing mix and the environmental analysis of the product in the current market. Before conducting the analysis, the features of the product are also analyzed.//
The product selected for environmental analysis is toothpaste.
The Marketing Mix contains mainly 4 P's
1. Product; the goods or service being marketed. The variety, quality, design, features, packaging, sizes, services, warranties, returns all form a part of the product.
Color (Blue), Available in various sizes (small travel pack in form of sachets, small and medium size tubes, and big family pack).
1. Fights germs and keeps bad breath away.
2. Consists of cooling crystals that gives long lasting freshness.
2. Price: the price at which it is offered to the customer. Many factors like the discounts, allowances, terms of credit and the payment period are also included under this head. The price will include the cost of manufacturing along with the margins of the distributors and middlemen who are involved in the process of delivering the product to the consumer and a profit margin for the company manufacturing it as well.
3. Place; the final destination at which the product is to reach so that the customer is able to access it. The place includes the physical distribution and the channels of distribution. The channels, coverage, assortments, transport, and location are included in this. Here the toothpaste is to be kept at all the popular big departmental stores occupying a decent shelf space for display and at the retail shops in the target market.
4. Promotion; It involves disseminating information about a product, product line, brand or a company. It includes a message issued on behalf of an organization. The tools of promotion consist of advertising, personal selling, sales promotion, public relations, publicity and direct marketing.
It can use sales promotion methods like distributing free samples to individuals, giving scratch cards and coupons with the toothpaste, giving a toothbrush free or a certain percent of toothpaste extra. It can resort to personal selling and also do advertising via print media (newspapers, magazines), electronic media (TV, Radio, and Internet).
With the increasing complexities ...
1340 words, APA