marketing mix
QUICK DETAILS
Maximum page length: 1 page, single-spaced, written analysis of the marketing mix
Include a screenshot of the advertisement on the second page of your write-up
&?ßsp;Use the format template I provide to organize your write-up
&?ßsp;Font: 12 pt. font
&?ßsp;Margins: 1 inch all around
You may only submit one document to SafeAssign: first page should be your write-up, second page should be a screenshot of your advertisement.
ASSIGNMENT
Find a commercial that sells a product that you can find at a physical or online retail store. Watch the commercial, then go to a physical or online retail store that sells this product and inspect the actual product (or if online, look through the product images and description). Your assignment is to discuss the Marketing Mix for the advertisement as it relates to this product. The key to this assignment is accurately identifying the segmenting, targeting, and positioning (STP) of your product and then relating that to the other three Ps (place, price, promotion).
GRADING RUBRIC
Product (10 points):
In two sentences, describe the commercial you saw that relates to the product you reviewed.
What is the product? Why did you choose to review the commercial for this product?
Briefly describe the company’s Segmenting, Targeting, and Positioning strategies for this product.
Place (10 points) – Describe how the “place” of the product supports the product’s STP:
Give a one-sentence description (including name) of the store that sells this product and that you investigated.
Why is the company selling this product at this store? Is the retailer a good fit for the product’s STP strategy?
&?ßsp;In the store itself, where is the product located? Does this location make sense for the STP strategy?
Price (10 points) – Describe how the “price” of the product supports the product’s STP:
What is the price of the product, and how does the price compare to the prices of its competition?
What does this price indicate to you about the firm’s marketing plan? Importantly, why do you think they have chosen this pricing strategy?
Do you believe that this is the right price for this product? Why do you think so?
Promotion (10 points) – Describe how the “promotion” of the product supports the product’s STP:
In which ways is your product currently being promoted? If so, in what way (discounted price, 2 for 1, in aisle coupon, prominent display, featured item online)?
Other than the commercial you viewed, how else is this product being promoted by the company? Do some research.
Insights (10 points):&?ßsp;
Does this product have an effective Marketing Mix to support the STP strategies? Yes or no, and why?
What component(s) of the Marketing Mix would you change, and why? What element of the Marketing Mix do you think is most crucial to update? (No marketing mix is perfect, so suggest at least one change to the Marketing Mix.)
PLEASE ATTACH A SCREENSHOT OF THE ADVERTISEMENT TO THE SECOND PAGE OF YOUR ASSIGNMENT.
This grading rubric is designed to give you an idea of the content expected in your write-up and the point value of the content on which you will be graded. You only have one page to quickly answer these questions, so you must be concise in your responses.
Please use the following template to format and organize your write-up:
Product (and STP Strategies):
Place (and how well it supports the STP strategy):
Price (and how well it supports the STP strategy):
Promotion (and how well it supports the STP strategy):
Insights (effectiveness of Marketing Mix and your suggestions for change):