For your own organization (or another organization of your choice) describe a product or service sold.
What is your marketing strategy?
Who is your target market?
Describe your marketing mix: product, price, promotion, and placement (distribution)
Is your product worthy of the promotional message?
Solution Preview
Marketing mix elements consists of 4Ps (price, product, promotion and placements). It entails the marketing plan of the organization/product. As per Mindtools, "'marketing mix' is a general phrase used to describe the different kinds of choices organizations have to make in the whole process of bringing a product or service to market."
Hence, Marketing mix helps in defining the positioning of the product and other marketing elements. As per tutor2u, Marketing mix consists of :
"Product - the product (or service) that the customer obtains
Price - how much the customer pays for the product
Place - how the product is distributed to the customer
Promotion - how the customer is found and persuaded to buy the product"
Socks Example:
Socks have long been a necessity in day to day life to keep the feet warm and protected. However, now it has become a fashion symbol with a wide range of variety offered to the customers. A sock is an item of clothing worn on the feet. The foot is among the ...
Solution Summary
Solution explains the concept of Marketing a New Product
... strengths, we believe our niche marketing effort and ... healthcare institutions competing in local markets for nursing ... perceived b the target market as different ...
...market (s).Why did you choose these markets and what ... Reasoning for Target Market Reason for geographic selection: People ... PROMOTIONPLAN Plan for Marketing Mix. ...
... in the US and Food and Drinks marketed abroad ... so as to best meet the needs of its targeted market. ... above mentioned 7 P's can be used for marketing of Insurance ...
... strengths, we believe our niche marketing effort and ... healthcare institutions competing in local markets for nursing ... perceived b the target market as different ...
... are used, there is an entire world market you may be ... If all elements of the marketing mix are used appropriately ... to serve all of your target markets needs, and ...
... Services may also be marketed by associating them with ... message may be related to the marketing team behavior ... that is designed to target various market segments ...
...markets are. ... Place (or route of distribution): Some of the revolutions in marketing have come about. ... Also,. - Describe a product that entered the market over the ...
... be thinking of whom their target markets are ... A separate marketing mix is usually crafted for each product offering or for each market segment, depending ...
... Rising Stars clients are in growing and expanding markets where the work ...Marketing objectives. ... In order to recapture its market share lead, it switched into the ...
... If the product is new, then demonstrations of the ... For low-cost mass-market consumer goods, sales promotion ...Marketing research helps the organization keep on top ...
