Reference no: EM133523429
Assignment: Marketing Mix Project
Take the time to read and re-read these instructions for your project.
It is a minimum of 7 to 8 pages including a separate Title page and a separate Reference page. There is no maximum number of pages.
Pick a good or a service 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/service/brand/product line in a single report describing Product, Place, Promotion, and Price. There should be at least one page for each of the 4P's.
Product
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.
Place
This 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.
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.
Price
This section should describe the Pricing strategies associated with your product. Price is what a buyer must give up to obtain a product. The "value" they see associated with it versus competition which fosters lower pricing. What pricing strategy is used also relates to distribution availability (supply and demand). 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.
PAPER FORMAT- USE APA Style
The following must be used for your paper:
Title
Introduction
Product
Place
Promotion
Price
Conclusion
References.
There must be at least one paragraph after each main, level one, heading.
Subheadings or Level Two and Level Three
To help you organize your paper, you should also use subheadings along with main headings. You do have to use the exact Level 1 headings above, but you do not have to use these exact Level two and three headings. You can choose the ones that fit your chosen product or service. Remember, you must have a paragraph under each heading or subheading. Here is the way to format APA headings using level one headings and level two, and three subheadings:
Level one Heading: Centered, Boldface, Title Case Heading
Text starts a new paragraph.
Level two: Heading: Flush Left, Boldface, Title Case Heading
Text starts a new paragraph
Level three Heading: Flush Left, Boldface Italics, Title Case Heading
Text starts a new paragraph
An example of this formatting is:
Introduction (Level one)
A paragraph introducing your paper.
Product
At least one paragraph introducing your brand, product, service or product line and at least one paragraph for each Level two or three heading.
Positioning
Brand Name
Company Image
Features & Benefits
Packaging
Product Support Service
Warrant)
After-sale Service
Place
At least one paragraph introduction place and at least one paragraph for each Level two or three heading.
Channels of Distribution
Type of Distribution
Convenience to Consumer
Promotion
At least one paragraph introduction promotion and at least one paragraph for each Level two or three heading
Message Positioning
Advertising
Traditional Advertising
Social Media and Digital Communication
Consumer Involvement
Personal Selling
Public Relations
Price
At least one paragraph introducing price and at least one paragraph for each Level two or three heading.
Objective
Strategy
Impact of Competition
Conclusion
References.