Justify Marketing Strategies Appropriate To A Given Situation:
Muhtasari
A great product at the right price will still flop if nobody hears about it or it is sold in the wrong place. Marketing only works when the four elements, product, price, place and promotion, pull together towards the same goal. Combining them well is what we call a marketing strategy.
In this lesson you will see how the elements of the marketing mix influence consumer decisions, and how to recommend and justify a complete marketing strategy for a given business and situation. By the end you will be able to design a joined-up plan, not just list the four Ps, and explain why each choice fits the target market.
Malengo
- Importance of different elements of the marketing mix in influencing consumer decisions in given circumstances
- Recommend and justify an appropriate marketing strategy in given circumstances
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- The four elements of the marketing mix are product, price, place and: A. profit B. promotion C. production D. purchasing Answer: B
- A marketing strategy is best described as a plan to: A. set only the price of a product B. combine the elements of the marketing mix to meet an objective C. train new employees D. record financial transactions Answer: B
- A product meets customer needs and is well priced and placed, but sales are poor because customers have not heard of it. The weak element is: A. product B. price C. place D. promotion Answer: D
- For an effective marketing strategy, the four elements should be: A. as different from each other as possible B. consistent and aimed at the same target market C. decided in random order D. ignored Answer: B
- Marketing to teenagers is usually most effective using: A. social media they use B. expensive newspaper notices only C. no promotion at all D. business brochures by post Answer: A
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Vitabu Vinavyopendekezwa
Jifunze zaidi kutoka vyanzo huria
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Sehemu ya kitabu
Developing a Marketing Mix
What is the marketing mix?
"Introduction to Business: Developing a Marketing Mix" by OpenStax, OpenStax, Rice University, licensed under CC BY 4.0 (https://creativecommons.org/licenses/by/4.0/). Source: https://openstax.org/books/introduction-business/pages/11-3-developing-a-marketing-mix. Access for free at https://openstax.org/books/introduction-business/pages/1-introduction
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Sehemu ya kitabu
Creating a Marketing Strategy
How do managers create a marketing strategy?
"Introduction to Business: Creating a Marketing Strategy" by OpenStax, OpenStax, Rice University, licensed under CC BY 4.0 (https://creativecommons.org/licenses/by/4.0/). Source: https://openstax.org/books/introduction-business/pages/11-2-creating-a-marketing-strategy. Access for free at https://openstax.org/books/introduction-business/pages/1-introduction
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