You are to select a tangible product that exists in the marketplace, not a service and create or explain the entire marketing plan of action for your chosen product, including the Four-Ps of marketing or all of the elements of the Marketing Mix. A reasonably thorough paper will be 12 to 15 pages, but slightly shorter papers might be acceptable, depending upon your particular writing style, the quality and thoroughness of the paper.
The General Outline
Your paper should follow this general outline:
I. Introduction-- Brief Description of Product/Market Situation
II. Detailed Product Description - and some Information about the company that makes the product and some history of the product
III. Need for the Product (and the benefits to the consumer who purchases the product)
IV. The Market
A) All Possible Markets
B) Specific targeted Market(s) (do your best to define the specific target market(s) )
V. Pricing
A) Pricing objective (how much does it cost? Are coupons or discounts available?)
B) Specific pricing method
VI. Place/Supply Chain (Distribution) - where is the product located?
A) Channel Structure (Middlemen/intermediaries used)
B) Logistics (transport methods)
VII. Promotion/Integrated Marketing Communications (how is this product promoted?)
A) Personal Selling
B) Advertising
C) The Internet
D) Sales Promotion/Reseller Support
E) Public Relations
G) Packaging (include a picture of the product and the packaging)
VIII. Appendices (only if needed)
The 4Ps are:
A good way to understand the 4 Ps Is by the questions that you need to ask to define the marketing mix. Here are some questions that will help you understand and define each of the four elements and questions that you can use to help you write your paper. Note: These questions are just food for thought and listed to guide you as you are writing. You can add any other information as needed to tell about your product and the marketing mix.
Product/Service-
• What does the customer want from the product/service? What needs does it satisfy?
• What features does it have to meet these needs?
- Are there any features you've missed out?
- Are you including costly features that the customer won't actually use?
• How and where will the customer use it?
• What does it look like? How will customers experience it?
• What 'NO), color(s), and so on, should it be?
• How is it banded?
• How is it differentiated versus your competitors?
Place-
• Where do buyers look for your product or service?
• If they look in a store, what kind? A specialist boutique or in a supermarket, or both? Or online? Or direct, via a catalogue? Or on-line?
• How can you access the right distribution channels?
• Do you need to use a sales force? Or attend trade fairs? Or make online submissions? Or send samples to catalogue companies?
• What do you competitors do, and how can you learn from that and/or differentiate?
Price-
• What is the value of the product or service to the buyer? What Is the benefit?
• Are there established price points for products or services in this area?
• Is the customer price sensitive? Will a small decrease in price gain you extra market share? Or will a small Increase be Indiscernible, and so gain you extra profit margin?
• What discounts should be offered to trade customers, or to other specific segments of your market
• How will your price compare with your competitors?
Promotion-
• Where and when can you get across your marketing messages to your target market?
• Will you reach your audience by advertising on IV, or radio, or on billboards? On the Internet?
• When is the best tine to promote? Is there seasonality in the market? Are there any wider environmental Issues that suggest or dictate the timing of your market launch, or the timing of subsequent promotions?
• How do your competitors do their promotions? And how does that influence your choice of promotional activity?
• Is social media used in the promotion of this product?
• Is e-marking and digital media used to promote this product?