Best Marketing Mix For New Product Or Service Opportunity Essay

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Based on all of the answer above and the work you have completed in relation to question 1 and 2, identify and describe the best marketing mix for the new product or service opportunity. Provide your reasons for this choice. Best marketing mix Description Reasons for this choice Product New product line to be included will be the organic and environmental friendly hair dying products This product will have zero negative impact to human health such as asthma or skin allergies or the natural environmental pollutions Price High end product should be charged with the high end prices with the profit margin of gaining 20% Customers believe the value for money factors during their purchase decisions process Promotion Use social media channels such as Wechat or Whatsapp to deliver the information of newly included product lines and product information This promotional tool is low in cost and high in business return and can reach as many potential customers as possible Distribution channels Intensive distribution channels with the reach to the rural and distant areas of suburbs Can help to carry as many products as possible and reach the maximum amount of potential customers; also helps to improve the business and brand images. Assessment Task 3: Memo To: Subject: Memo of the marketing mix adjustment Hi Ling, I am sending you the required memo for marketing mix adjustment for House of hair company. Please let me know if I need to make any improvement.
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