23 Aug Pick a good or a service that you are interested in and prepare a report on the Marketing Mix used for that product. You are required to choose a product by bra

Pick a good or a service that you are interested in and prepare a report on the Marketing Mix 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, paintball 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 in a single report describing Product, Place, Promotion, and Price. Divide the report into four sections and devote at least one page to each section.

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-sales service, brand name, company image, value, and many other factors, like the product's life cycle stage. See Chapters 7 and 8.

Place

The 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 a place is physical distribution, which involves all the business activities concerned with storing and logistical transporting of the finished products, the 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. See Chapters 10 and 11.

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. See Chapters 12, 13, and 14.

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 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. See Chapters 6, 7, and 9.

PAPER FORMAT- USE APA Style TITLE PAGE INTRODUCTION PRODUCT SECTION PLACE SECTION PROMOTION SECTION PRICE SECTION CONCLUSION REFERENCE PAGE

The paper should be done in APA format, Times New Roman Font 12 pt, double-spaced. You must use at least three references.

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