Evaluate the above scenario and suggest possible changes in the marketing strategy with respect to the four Ps' (Product, Price, Place and Promotion).
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- GoPro demonstrated a large number of positive linkages between the 5 Ps and the 5 Cs, especially from the company’s perspective. The overall problems demonstrate a. if a firm can get the 5 Ps right, the corresponding 5 Cs will fall into place. b. customers want it right from their perspectives every time. c. neither the 5 Ps nor the 5 Cs are sufficient to address the marketing challenges of high-tech companies. d. not all of the 5 Ps or the 5 Cs are equally important to the customerA new tropical fruit juice product was entering the marketplace. The director of marketing for the company would like to know which advantage should be emphasized in advertisements, and which advertisement is better for sales. Nine cities with similar demographics are chosen, and a different combination of Media and Marketing Strategy is tried. The unit sales of tropical fruit juice for the eight weeks are shown in the two-way table below. Media Marketing Strategy Convenience Quality Price Television 492, 630, 559, 447, 480, 624, 547, 444 464, 559, 759, 558, 528, 670, 534, 657 678, 628, 591, 633, 684, 761, 691, 549 Social Media 464, 559, 759, 558, 528, 670, 534, 657 710, 650, 705, 653, 577, 837, 629, 799 705, 585, 527, 499, 515, 566, 710, 547 Newspaper 690, 650, 705, 653, 577, 825, 629, 799 577, 616, 708, 486, 480, 652, 585, 538 803, 583, 825, 597, 813, 564, 708, 615 At the 0.05 level of significance,a. is there an interaction between media and marketing strategy?b.…I need help creating a marketing strategy for my marketing planoutline including the following: MARKETING STRATEGY3.1 Mission3.2 Marketing Objectives3.3 Financial Objectives3.4 Target Markets3.5 Positioning3.6 Strategies3.7 Marketing Program3.8 Marketing Research My product: The Full Pumice Stone Shower Mat is a demonstration of inventiveness and style. Made totally out of regular pumice stones, it conveys a double reason usefulness, filling in as both an exfoliator and a massager. As you step onto the mat, the pumice stones carefully peel your feet, successfully eliminating dead skin cells and improving blood circulation. The non-slip backing guarantees wellbeing, giving a protected balance even in wet conditions. Express farewell to untidy and awkward pumice stone schedules; our shower mat flawlessly incorporates this peeling system into your everyday shower routine, offering an issue-free and empowering experience.
- In this week’s topic, the chapter covered customer loyalty and how it weaves into the 8 Ps marketing mix. To practice this concept, select your favorite vacation spot. Select 2 Ps from the 8 Ps marketing mix. For each, identify and briefly describe one marketing strategy idea that would support a marketing campaign for your favorite vacation spot. Brainstorm 1 to 2 ways you can promote customer loyalty and encourage tourists to return.The management of Magic Vision would like to have an efficient supply chain for their high-end eyewear, but unfortunately, they are not satisfied with the performance of their marketing intermediaries in promoting the product. The company decided to sell its products only through its own efforts since its objective is to reach the target sales for the year. Do you think that the owner's decision is an effective strategy? If yes or no, justify your answer.Choose a product, develop a marketing mix, competitve advantage, pricing, media strategy You will need to choose a product that you would like to market: Using the Internet, you will need to develop all of the following: 1: A marketing mix and a competitive advantage for the product 2: A consumer survey designed to help determine the marketing mix and competitive advantage 3: A product line with at least two additional products in your line 4: A pricing strategy, a price, and a rationale explaining the price of each of your products Remember to consider turnover, competition, and elasticity of demand in your strategy 5: A contingency plan in case your product does not sell at the initial price along with a rationale for your plan 6: A media strategy for marketing the product including an image and position to be developed, types of promotion to be used, and media to be used Remember to specify the advantages of the chosen media, frequency, and continuity to be used
- Experiment One Customer Development and Market Research 【Introduction】 In the process of carrying out import and export business, the first problem is to develop foreign trade customers. Based on the introduction of customer development and market research, this experiment focuses on simulating the business links of target market selection, catalogue design and planning and implementation of international market research , and expounds the basic knowledge and skills of international target market selection, product introduction and information acquisition. This experiment aims to make students master the basic skills of seeking customers and developing customer relationship through operation and learning, and can use various methods to conduct research on international market, collect information of international market, screen out useful information, determine target market, and cultivate students' ability to connect theory with practice and comprehensively consider problems. Module 1…n Class, 10–25 Minutes for Teams Assume that you haverecently been hired by a firm that manufactures furniture. you feel that marketing should have an input intosupplier selection for the firm’s products, but the purchasing department says that should not be a concernfor marketing. you need to explain to the departmenthead the importance of the value chain perspective. In arole-playing exercise, explain to the purchasing agent thevalue chain concept, why it is of concern to marketing,and why the two of you should work togetherImagine yourself as Business Development Manager in ABC and your task is to create new business strategies for your products and increase sales volume and diverse customer portfolio. Before you start, we would like to give some information about our current customer portfolio as follows: Customer Segment Percentage of segment Revenue Stream High-end / Michelin Restaurants 37% 50% Mid to High Restaurants 43% 34% Cafes / Small Restaurants 20% 16% Table shows our customer distribution by percentage of each segment and share of each segment in total revenue. Questions: (a) How would you increase sales among current customer portfolio (aka chefs/restaurants)? Which group of chefs/restaurants would you focus and why? Which channels would you use to reach your prospective customer and sell your products to them? (b) Remember your idea for new target group suggested by you in previous case, in which platforms or places would you sell your products among your…
- The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. Questions 1. Provide a discussion on the 4P’s of the marketing mix for a product of your choice. 2. Determine the market segmentation for the product discussed in question 1 above.(a) What marketing research did Vivian Callaway execute? (b) What were the critical questions that led her to conduct research and seek expert advice? (c) How did this affect the product’s marketing mix price, promotion, packaging, and distribution decisions?State the marketing objective to be achieved by the marketing plan for year 2022. Please include your answer with explanation and example (please) Product : iBasket - Guopeng Liang Guopeng Liang An objective in plan may include all the following aspectshere the example list:- Task (what is to be accomplished).- Measurable quantity (how much).- Time frame (by when).- multiple objectives:- Increase sales revenue.- Reduce costs.- Achieve branding goals.- Achieve customer relationship management goals.- Improve supply chain management.- Objectives S.M.A.R.T
