Answered: Marketing mix choose a product that you…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Marketing mix choose a product that you have purchased recently. Research and investigate this product on the Internet and in the marketplace. Evaluate the marketing mix (product strategy, pricing strategy, distribution strategy, and promotion strategy) used by the manufacturer of this product. At a minimum, consider the following questions in your investigation: Product Strategy : * In what category of consumer products (convenience, shopping, or specialty) does this product fall? Why? * At what stage is this product in the product life cycle (introductory, growth, maturity, decline)? Why? * What role, if any, did branding (brand name, symbol, slogan, etc.) play in your selection of this product? Why? * What role, if any, did packaging play in your selection of this product? Why? * Evaluate the quality of the product in terms of quality level and product consistency. Promotion Strategy : * Identify the various media used to promote/advertise the product. * Did other promotional tools (sales promotion, public relations, personal selling) play any role in your purchasing decision? If so, describe them. * Describe and analyze the promotional mix * Do you agree with the company’s marketing strategy, or would you recommend changes to the mix? Why? Pricing Strategy : * Evaluate the price of the product you selected. * What appears to be the pricing strategy (profitability, boosting volume, matching the competition, or creating prestige) used by its manufacturer? Why? * Do you think the price is fair? Why or why not? Distribution Strategy : * Where did you buy the product? * Is this channel member a wholesaler or a retailer? * What type of wholesaler or retailer? *Prepare a two- to three-page report discussing the marketing mix for the selected product.

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