Create a realistic rationale for the development of a coherent marketing mix for the product. The product is 'dolce la fleur' perfume by Christian Dior.
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The marketing mix problem is the task given to the marketing managers to decide the four crucial variables for the success of the product:
The four P's are:
Product: The marketing manager should decided what product to offer to the consumers. The product is decided based on marketing surveys. Identifying what products are already present in the market. What are the requirements of the customers. Based on the availability of the products in the market and requirements and wants of the costumers, the gaps in the product perception map are identified. Then, we need to see out of the available gaps, which gap can the company fill best. The product decisions involves the decisions such as which fragrance to offer, what should be the target market? Whether it is a strong perfume or subtle. Now the prof has given the choice for each of these decisions. You need to figure out why this is these are the best decisions. For example: The market research identified that the young women are the maximum users of perfumes. ...
The marketing mix problem is solved and discussed in the solution.