How does the selection of your positioning statement impact the marketing mix strategy? Consider its influence on product, placement, price, and promotion.© BrainMass Inc. brainmass.com October 16, 2018, 7:00 pm ad1c9bdddf
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1. How does the selection of your positioning statement impact the marketing mix strategy? Consider its influence on product, placement, price, and promotion.
Briefly, the positioning statement (Step #2 below) acts as a blueprint for the marketing mix strategies (Step # 3 below). However, when discussing concepts and steps of the marketing plan, it is important to position them in context of the marketing plan to aid understanding of the overall process. For example, a complete, written marketing plan contains seven main components. The positioning statement is part of Step 2, which acts as a blueprint for the marketing strategies in Step 3, as we see below:
1. Market research and analysis is the process of gathering pertinent information about the potential market for your product(s) and/or service(s), evaluating strengths and weaknesses, and identifying a target audience.
2. Setting marketing and financial goals and objectives will help you focus and evaluate your marketing efforts.
3. Marketing mix describes the specific strategies you will implement to reach your target audience, entice the target ...
This solution describes how the selection of your positioning statement impacts the marketing mix strategy, considering its influence on product, placement, price, and promotion.
Marketing Mix Presentation for a New Beer
Create a presentation introducing a new beer product.
You will write a presentation that includes:
1.Situation analysis: List the PEST and SWOT factors, as well as your analysis, that are significant to your marketing mix and target market decisions.
2.Target market segment(s): Describe your target market (s).Why did you choose these markets and what was your reasoning for selecting these instead of others?
3.Product positioning and value statement: Why were these statements selected and how do they relate to the promotion message?
4.Final design of marketing mix including:
Product description: What are the attributes and differentiating benefits of the product; why did you choose these attributes
Pricing strategy with sales forecast, demand estimate and break-even volume analysis: What pricing method was selected, what price and how did you arrive at these decisions.
Distribution Plan: Where do you intend to distribute and what are the factors that influenced your decision?
Promotion Plan with budget: Identify the media you'll use to promote your product and why you selected those and your promotion budget. Explain how your promotion objectives help to achieve the sales forecast.
Note: There should be a visual image as part of your presentation that shows how these all fit together.
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