14 Aug Select an existing product and identify its target market. Describe how each var
Select an existing product and identify its target market.
Describe how each variable of the marketing mix (product, price, place, and
promotion) is being executed. Address at least three elements of each variable.
Product:
What features do customers care most about?
How are the key features and benefits better or worse than
those of competing products?
How do consumers choose and use products in this category?
How is the product branded?
Price:
How is this product priced relative to competing products?
What is the rationale for employing this pricing strategy?
Are there pricing discounts (e.g., wholesalers, bulk)?
Place:
Where is the product sold and why have those locations been
selected?
Do the locations give adequate accessibility to the target
market?
Are products sold online as well? Is there transparency
between online and brick and mortar outlets?
Promotion:
What marketing communications does this company use to
promote the product?
Describe the advertising, personal selling, public
relations, direct marketing, etc. efforts).
What main messages are portrayed to consumers? What is
emphasized? What is the image?Select an existing product and identify its target market.
Describe how each variable of the marketing mix (product, price, place, and
promotion) is being executed. Address at least three elements of each variable.Product:
What features do customers care most about?
How are the key features and benefits better or worse than
those of competing products?
How do consumers choose and use products in this category?
How is the product branded?
Price:
How is this product priced relative to competing products?
What is the rationale for employing this pricing strategy?
Are there pricing discounts (e.g., wholesalers, bulk)?
Place:
Where is the product sold and why have those locations been
selected?
Do the locations give adequate accessibility to the target
market?
Are products sold online as well? Is there transparency
between online and brick and mortar outlets?
Promotion:
What marketing communications does this company use to
promote the product?
Describe the advertising, personal selling, public
relations, direct marketing, etc. efforts).
What main messages are portrayed to consumers? What is
emphasized? What is the image?
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