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Segmenting Markets, Marketing Mix, and PSSP's

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MARKETING

>Discuss the universal functions of marketing and those functions that would apply to the products/services provided by a fictitious firm of your choosing.

>Provide a succinct overview of the key components of a marketing plan.

>Discuss the 4 P's (marketing mix)

>Discuss the dimensions for segmenting markets

>Discuss, in detail, several psychological purchasing variables (PSSP).

>Discuss the adoption process as it relates to a fictitious product of your choosing.

>Discuss in detail, how the internet is reshaping many business markets and how you would use the internet if you were to market a particular product.

>Your best friend owns a small children's consignment store (clothing store where the store will sell your "used clothing" and will share the proceeds with you) located in the downtown area of a community of 50,000 citizens. Business has been slow the past year due the construction of several new strip malls and a new Wal Mart store (Increased competition). She recently discovered you were taking an online marketing class and has asked you for your advice for ideas that will increase her sales.

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MARKETING

>Discuss the universal functions of marketing and those functions that would apply to the products/services provided by a fictitious firm of your choosing.
The universal functions of marketing are selling products/services, the distribution and logistics of goods/services, the warehousing, standardization, financing the promotion of goods/services, risk bearing, buying of goods. The fictitious firm makes toys using the plastic molding system. The marketing function sell the toys, finances the advertising, bears the risk of the toys becoming out of date, buys the raw materials of goods, the standardization of toys so that it complies with ISO standards, the warehousing of finished toys, the distribution of toys in seven different countries.

>Provide a succinct overview of the key components of a marketing plan.
The key components of a marketing plan are the setting of the marketing objectives, devising the strategy for achieving the objectives, allocating the responsibility for each phase of the marketing plan, allotting budget for the different phases of the marketing plan, setting the timeline for each phase of the marketing plan, setting the procedure in place for monitoring the progress of the marketing plan, and controlling the progress of the marketing plan.

>Discuss the 4 P's (marketing mix)
The 4 Ps or product, price, place and promotions are the four variables/parameters that can be changed by the marketing manager. If is believed that the marketing manager has control over these four variables and can use these for achieving marketing goals. For instance, if the marketing goal is to increase the market share from 20% to 40%, the marketing manager may improve the quality of the produce, may reduce the price, increase the number of retailers that stock the ...

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