Consider your customers, the stage of the product lifecycle, differentiation strategies. Product positioning statement and chart.
marketing
Description
MRK 108 - Marketing Strategy Part 2
The Marketing Mix
Product: Briefly describe the product you are going to introduce or re-develop. Consider your customers, the stage of the product lifecycle, differentiation strategies. Product positioning statement and chart.
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Price: Briefly describe what pricing strategy are you going to use? To determine this, think about your pricing objective, your customers, the costs to get your product to market, your sales goals, i.e. Charge a price that is lower/same/ higher than competition, why?
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Place: Describe your Distribution Strategy and explain why this would be a good distribution channel.
Where specifically will the product be sold?
Will you use the internet as a distribution channel? If yes, explain how and why?
It may be possible to use two different channels at the same time, explain why.
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Promotion: Briefly provide a general description of how you will promote your product to your target market(s)?
For example: Advertising: TV, radio, newspapers, magazines, internet, Social Media, billboards, identify the combination of media used to deliver the message to the identified target market/s
Sales promotion: coupons, free samples,
Personal selling: salespeople
Public Relations: event sponsorship, media pick-ups,
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Format:
- This submission must be word processed. Spelling and grammar will be assessed and included in your grade.
- Part 2 citations must be listed as a separate section after part 1 citations.
- Parts 1 & 2 must be the same style/format to create one report.
