Describe the marketing mix decisions (product, distribution, promotional, pricing) that marketers face. Choose a real-world product or service and apply the marketing mix decisions to it, explaining your choices
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- Marketers must understand the current and potential environment in which the Product or service will be marketed. Explain situation analysisSuppose you are a marketing executive. How will you redefine selling concept, marketing concept, societal concept and justify your preference among these in case of conducting your business activities.Marketing strategies vary at different stages of the product life cycle. Determine which stage of the product life cycle your organization’s product is in. What market characteristics lead to your determination? Explain. What recommendations should the organization consider based on your analysis?
- What is the purpose of a marketing plan for a company or a product/service? What do you think about each step of the marketing plan? Select one of the steps of the marketing plan and provide your explanation.Differentiate between goods and services and list the elements of marketing mix for goods and services?Marketers must understand the current and potential environment in which the product or service will be marketed. Explain why?
- The way consumers evaluate and choose a product depends on their degree of involvement with the product and marketing messages. Identify a brand that has high consumer involvement (e.g. Apple) and critically examine their strategies to increase consumer involvement with the product and marketing messages.Think of a specific product or service and then formulate a concrete marketing strategies that can gain valuable feedback and how to improve your product or service that will meet the needs of your target market. Discuss.How would you describe a "market niche?" Describe four product/services that you own or consume that you would consider to be "niche" products. Why do you believe this to be true?
- Think of a specific product or service then formulate a concrete marketing strategies that can gain valuable feedback and how to imimprove your product or service that will meet the needs of your target marketPrepare a Marketing Plan and Overall Marketing Strategy, for hair care products such as Shampoo, Conditioner Hair Serum, and deep treatment. This includes pricing, distribution, promotion, Sales etc.Customers seek to optimize perceived value. There are several components of value that can be provided via the marketing mix elements. Propose specific product, price, distribution, and promotion strategies for your organization’s offer that could produce a higher perceived value (total value) for the target audience. Justify the value components you used to design a high-value overall strategy.