ASSIGNMENT 3: Marketing Mix Analysis.
Developing a marketing strategy involves creating an integrated marketing mix (product, pricing, distribution, and promotion â€“ the 4Ps) aimed at developing a long-term, value-oriented relationship with a clearly defined target market. Being able to succinctly and effectively communicate your analysis and recommendations is an important business skill and a component of your development in this course.
Project: Write a 3 pages paper that summarizes your analysis of the effectiveness of the companyâ€™s current marketing strategy as it applies to your chosen target market (from Assignment 2) and your recommendations to improve or build on this strategy.
- Part A: Very briefly summarize the companyâ€™s/productâ€™s current environment and the marketing mix components of the current strategy (i.e. to set the stage for Part B, review just the most important highlights of your Assignments 1 & 2).
- Part B: Critique the effectiveness of the companyâ€™s marketing mix (all 4Ps). Is it appropriate for your chosen target segment from Assignment 2? Does it reinforce the companyâ€™s/ productâ€™s positioning strategy? What is the company doing well, if anything? What mistakes, if any, is it making with its current strategy? Recommend improvements and/or additions to the companyâ€™s marketing strategy to make it more effective for your chosen target segment from Assignment 2.