What element of the marketing mix do you think is most critical when positioning products or services to your?
What element of the marketing mix do you think is most critical when positioning products or services to your target market? Why?
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The mix is a bundle of variables which are offered to the customer. These include the product or service itself (its advantages); its availability (the place where and when it is available, delivered or distributed); its image (the way it is promoted) and, of course, the price which should be charged.
These are some of the ingredients which a marketing manager must mix together when optimising a limited amount of resources.
What is the best mix? A marketing manager has to juggle resources and decide on the best marketing mix. Should money be spent or forfeited on: reduced prices? Improved products? New delivery trucks? Or maybe invest all your money in a high risk TV advertising campaign?
Did you recognise the 4 Ps just there? In 1960 Jerome McCarthey presented the 4 Ps to the world. Since then marketing managers around the world have become familiar with them. Can you recall them?
In addition to the 4 Ps, there are other approaches to the mix. These are explored under ‘Different Approaches’ subtopic as shown in the title map.
How does a company design the proper marketing mix?
Marketing strategy consists of selecting a segment of the market as the company’s target market and designing the proper marketing “mix” that meets the needs of that segment. Discuss how this is achieved.
The Marketing Mix is known the elements that make up the marketing process. They include:
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How do you create a Target Market and Marketing Mix?
I am creating a new product which is an interactive science and math game to help kids ages 6-12yrs old with their homework. I am trying to come up with a target market besides age and kids who are getting low grades in these subjects and the marketing mix. I so do not understand the Marketing Course and need help with the target market and marketing mix. Please help me since I hae never created a new product marketing plan.
1)Look at the age and gender of the people who use your product. You can do this by surveying the consumers or deciding what age and gender you want to attract to your product.
2)Find out your consumers’ education and income levels. You may be able to market differently to those who have earned a college degree versus those who haven’t and to those who are in a high income bracket versus those who aren’t.
3)Notice the marital status and family life cycle of your target consumers. Find out whether they are single, newlyweds, have been married for many years, or have children or grandchildren. Each type spends money differently.
4)Look at the ethnic and religious background of the people who use your product. This may not make a difference in many cases, and is often good to know.
5)Put all the demographic information into a customer demographic profile. For example, you may find that your target market includes people in their 30s and 40s who graduated from high school, have a middle class income and are married with young children.
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