Discussion of how the company creates value for customers, including broad marketing logic & specific strategies for each of the 4 P’s, thoroughly accounts for how each strategy responds to issues discussed, and is based upon solid research and correct, consistent application of course concepts. Strategy should be coherent – i.e., components fit together, and logically follow from your “Current marketing situation”.
Questions to address –
All recommendations need to be based upon concepts and facts. Include only statements with references. Important concepts to incorporate are found in the margins, colored font, and at the end (“Key Terms”) of the following chapters:
Overall strategy – Chapters 1, 2 & 6 Examples of concepts to apply here are “mission statement” and “market segmentation.
Product – Chapters 7 & 8 Examples of concepts to apply here are “product life cycle” and “crowdsourcing new products”.
Price – Chapter 9 Examples of concepts to apply here are “product bundle pricing” and “skimming pricing”.
Place (distribution) - Chapters 10 & 11 Examples of concepts to apply here are “multichannel distribution” and “convenience stores”.
Promotion –Chapters 12, 13 & 14 Examples of concepts to apply here are “communication objective” and “objective and task approach”.
Each of these five sections should apply 4-6 concepts. You do not need to give definitions for concepts. For articles and reports discussing marketing strategies and tactics, see major business databases such as Business Source Premier & ABI/INFORM Global. Use what you learned from your research and be careful to stay objective. What overall strategies should your company use?
What product strategies and tactics are best for your product?
What pricing strategies and tactics are best for your product?
What promotion strategies and tactics are best for your product?
What place (distribution) strategies and tactics are best for your product?
Euromonitor Passport is a global market research database providing statistics, analysis, reports, surveys and breaking news on industries, countries and consumers worldwide--including the United States.
This database requires login with UD Credentials from all locations- on campus as well as off campus.
--Analysis of consumer and industrial markets around the world;
--Industry analysis across fast moving consumer goods and services, including market performance, market size, company and brand shares and profiles of leading companies and brands;
--Industrial makeup of the world’s largest economies;
--Data and analysis on consumer lifestyles, population trends, and socioeconomic analysis for every country;
--Commentary on factors influencing the global, regional and local business environment; and
--Surveys exploring consumer opinions, attitudes and behaviors.