MARKETING MIX

MARKETING MIX FEEDBACK 10-21-2021

1) Explains the importance of applying the marketing mix in marketing a new product or service to customers. NOT YET MASTERED!!!!!

In your first paragraph you mentioned that people prefer to hold onto their old stuff than to buy new.  This is a bold statement, is there some information that you found that backs that idea up?  

2) Describes the difference between marketing a product and a service. NOT YET MASTERED!!!!!

You discussed the research process, which is good.  What is the basic difference between a product and a service?  

There is a project resource that goes into detail here.

3) Makes logical recommendations for placement of the new service, including how it will be distributed and where it will be marketed. NOT YET MASTERED!!!!!

Developing relationships is important here.  Where would you sell this service?  Think about how the customer gets the damaged equipment to and from you?  

4) Discusses the pros and cons of two different pricing structures. NOT YET MASTERED!!!!!

We are looking for two specific pricing strategies.  There is a great resource on product pricing in the project resources.  These include things like luxury branding, which is what Mercedes Benz does.

5) Describes how advertising, public relations, social media, and traditional media can be used for promotional purposes. NOT YET MASTERED!!!!!

Think traditional marketing (TV, radio, billboards, etc).