Marketing Mix Tactics

Question 1

Product

Answer 1

• brief summary of existing products.
• and the planned changes or additions to the product range should be identified.
• assuming it is a new product,the development of the new product should be explained and the research behind it outlined.
• the key features or distinguishing features should be identified with branding,packaging and labelling details.

Question 2

Price

Answer 2

-there could be more than one pricing decision if the product is to be sold in different markets.
-info needed to be weighed=cost,price elasticity,competitor’s prices and market conditions(these are just 4 to be considered)
-the plan should highlight the most significant decisions behind marketing objectives which are likely to be
marketing objectives and marketing strategy.

Question 3

Promotion

Answer 3

-the plan should explain the decisions taken on how the product will be promoted
-this covers 4 areas=
>advertising >sales promotion >public relations >personal selling
-TIME SCALES for promotional activities are important because some require long lead times and may need to be repeated at diff stages of the product launch.
-the SCALE and TYPE of advertising campaign will depend on the
1.image being created for prod
2.the market being targeted.
3.the price being charged
4.the marketing budget available

Question 4

Place/Distribution decisions

Answer 4

• this tactical area lays out the distribution plan for the product
• distrib is a broad concept that includes all activities responsible for getting the product to the consumer
• plan should give details of
  1. channels to be used
  2. the range and no. of outlets that will sell the prod
  3. and how these are linked to the market segment being targeted.