The Marketing Mix
Purpose: To enforce the value of the marketing mix elements in designing a marketing strategy.
Background: Given the highly competitive marketing environment, many marketers focus on specific segments of consumers when designing and building products, setting the price, determining where the products will be placed on shelves, and designing the promotions. This process is known as building the marketing mix.
Directions: Review the elements of the marketing mix—product, price, promotion, and place. In 1 - 2 pages, explain how the marketer of each of the products/services (below) has built the marketing mix.
Products:
Old Navy
Wendy’s
Manchester Community College (NH)
Questions to address in your assignment:
Do any of the products/services presented have more than one target market? Explain your answer.
What factors determine the price of the products/services presented? Explain your answer.
Do the marketers use various types of promotion? Explain your answer.
Please note that students can bullet their answers; however, answers must be thoroughly explained and free of grammatical errors.