You know that marketers have traditionally classified products based on characteristics: durability, tangibility, and usage. You also know that each product type has an appropriate marketing-mix strategy attached (the effective use of the "Four P's"). In analyzing your company's product offerings, you decide to list each of these offerings and the appropriate marketing-mix strategy to understand where your products "fit." Match the product offerings with the appropriate marketing mix strategies.
1: The appropriate strategy is to make them available in many locations, charge only a small price markup, and advertise heavily to induce trial and build brand preference.
2: These are intangible, inseparable, variable, and perishable products. They require more quality control, supplier credibility, and adaptability.
3: These are tangible goods that normally survive many uses, These products normally require more personal selling and service... and command a higher price margin, and require more seller guarantees/warrantees.
You know that marketers have traditionally classified products based on characteristics: durability, tangibility, and usage. You also know that each product type has an appropriate marketing-mix strategy attached (the effective use of the "Four P's"). In analyzing your ...
Response discusses Marketing Strategies
Market a new product
Create a product or service (do not choose 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.
Using the course resources, 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?
Include a description of the target market and positioning (how customers perceive your product or service).
Include a detailed overview of each element of the marketing mix (product, price, distribution, and marketing communications