Question
Develop your program marketing mix (4 Ps) that helps company to reach its goals and to be successful. You may use new marketing tools in
Develop your program marketing mix (4 Ps) that helps company to reach its goals and to be successful. You may use new marketing tools in this stage such as using new communication tools (e.g. social media), CRM systems, new channels of distributions, and so on. Your marketing program includes:
- Product strategy
- Type - good, service, idea etc.
- Features - how will it be different from the competitors?
- Branding Strategy
- Identification - brand name, label and packaging
- Production method/delivery of service
- Others
- Price strategy
Which pricing strategies do you believe they are using and/or should be using and why? Please provide examples to support your point
- Promotion strategy
- Personal selling
- Advertising
- Internet - website, social media, email etc.
- Television
- Radio
- Magazine and newspaper
- Integrated media
- Outdoor media
- Others
- Sales promotions - sales prices, discounts, coupons, contests, sweepstakes, tradeshows etc.
- Direct Marketing - telemarketing, direct mail etc.
- Public relations
- Digital marketing and website (there are several tactics/channels of DM including SEO plan, PPC campaign plan, e-mail marketing plan, social media marketing campaign plan, content calendar, etc. (depending on client's needs) and almost all companies nowadays need to use them- consult it with your client)
- Other forms of Promotion
- Place (distribution) strategy
- Channels of distribution - manufacturer, wholesaler, retailer
- Product location availability
- Physical distribution/location of facilities/modes of transportation
- Cost
- Production
- Distribution
- Overhead
- Sales
- Marketing
- Markup
- Suggested selling price
- Profit margin
- Price and quality relationship - perceived value
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