Identify Marketing Mix Assigment - Black Business Boom

Name

First Last

Business Name

Product

Complete the questions on Product Tactics below. Then draft the tactics you will use to approach the Product portion of your marketing mix.

1.) What kind of product/service does your customer want?

2.) What features do your customers want?

3.) How is your product/service different from the offerings of your competitors?

4.) How will you brand your product/service?

What product tactics do you intend to use?

Price

Complete the questions on Price Tactics below and draft the tactics you will use for the pricing part of your marketing mix

What is the customer's perceived value of your product/service?

What are other companies selling similar products/services for?

How do your customers feel about the price you're offering?

How will a small increase or decrease affect sales?

What discounts can you offer?

Can you undercut your competition without hurting your bottom line?

Can you offer extra value that would allow you to charge more for the product?

What price tactics do you intend to use?

Place

Complete the questions on Place Tactics below. Then identify where you will ‘place’ your product/service and distribute it so your customers have easy access.

Where do people look for products/services such as yours?

What distribution channels do you need and how can you access them?

Do you need a sales force or intermediaries to help you sell?

Where are your competitors selling their products/services?

Where will you ‘place’ your product/service and distribute it? In other words, place tactics do you intend to use?

Promotion

Complete the questions Promotion Tactics below. Then identify the types of promotion tactics you will use in your marketing mix. NOTE: Be sure to include both inbound and outbound methods, such as content marketing and advertising. The worksheet lists some different methods, so just edit them to suit your needs.

Can you reach your customers through traditional advertising channels such as TV, radio, or billboards?

Are there certain times of year when your customers are more likely to buy?

How do your competitors promote their products?

What ideas of your competitors’ can you use?

How can you promote your products differently than your competitors?

Where can you find your customers online (i.e., virtually)?

Where can you find your customers offline?

What are the promotion tactics you intend to use?

Please feel free to use the space below include more details on the promotion tactics you selected

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Do not make multiple submissions for this assignment.

OPTIONAL ASSIGNMENT: Identify Your Marketing Mix

Product

Price

Place

Promotion