Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Pick a product that you are interested in and prepare a report on the Marketing Mix actually used for that product. You are required to

image text in transcribed
image text in transcribed
Pick a product that you are interested in and prepare a report on the Marketing Mix actually used for that product. You are required to choose a product by brand name. You may choose a well-known name like Tommy Hilfiger, Nike, and Coke or a lesser-known brand such as Louisville Slugger, Peavey, or Furby. It can be a familiar product such as a soft drink, automobile, backpack, a piece of sports equipment or a computer; or one that is of special interest to you that is less familiar to most of us such as deer stands, paint ball equipment, or a musical group. The choice is yours but my one criterion is just to ensure that there is enough marketing information readily available on the good or service. Discuss this product in a single report describing Product, Place, Promotion, and Price. Divide the report into four sections and devote at least one page to each section. 1 . This section is the heart of the marketing mix and should describe the product offering and product strategy. The product includes not only the physical unit but also its product depth and breadth of the line/service, package, warranty, after-sale service, brand name, company image, value and many other factors like the products life cycle stage. See Chapters 7 and 8. 2. Place The section should describe the Place associated with your product. Place is concerned with making products available when and where customers want them. A part of place is physical distribution, which involves all the business activities concerned with storing and logistical transporting of the finished products distribution channel and channel management. The goal is to make sure that the products arrive in usable conditions at designated places where they are needed. See Chapters 10 and 11. 3. Promotion This section should describe the Promotion associated with your product. Promotion includes advertising, public relations, sales promotion and personal selling tactics that create attention, interest, desire and action. Promotion's role in the marketing mix is to bring about mutually satisfying exchanges with target markets by informing, educating, persuading and reminding them of the benefits of an organization or product. See Chapters 12, 13 and 14 4. Price This section should describe the Pricing strategies associated with your product. Price is what a buyer must give up to obtain a product. It is often the most flexible of the four mix elements- the quickest element to change. It is an important competitive weapon and is very important to the organization because price multiplied by the number of units sold equals total revenue for the firm. See Chapters 6,7 and 9. PAPER FORMAT- USE APA Style Must have the Following Headings and Subheadings. TITLE PAGE INTRODUCTION PRODUCT SECTION Positioning Brand Name Company Image Features & Benefits Packaging Warranty After-sale Service PLACE SECTION Channels of Distribution Type of Distribution PROMOTION SECTION Message/Positioning Advertising Personal Selling Sales Promotion Public relations PRICE SECTION Objective Strategy Impact of Competition CONCLUSION REFERENCE PAGE

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managing Hospitality Human Resources

Authors: Robert H Woods, Educational Institute Staff American Hotel & Lodging Association

4th Edition

0866122877, 9780866122870

More Books

Students also viewed these General Management questions

Question

Was the penalty appropriate?? p-698

Answered: 1 week ago