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Homework answers / question archive / For this discussion you will need to select a product, good, or service that you purchase on a regular basis

For this discussion you will need to select a product, good, or service that you purchase on a regular basis

Business

For this discussion you will need to select a product, good, or service that you purchase on a regular basis. This could be anything from your morning coffee to the make of your car to your favorite chain restaurant. Conduct some formal research on the marketing strategy of the company or brand before you start your posts.

For Discussion

  • Name of product and company: Use the proper corporate name, not a nickname. For example: Tide Pods by Proctor & Gamble. Include pictures if you’re handy with uploading/inserting images.
  • Product description: Briefly describe the product you’ve selected along with any relevant history that led you to choose this product/brand.
  • Describe the key marketing strategies of your selected product. You should base your evaluation and report on what you can observe about how the four Ps are applied to the product you chose.
    • Product: Describe the want or need your product addresses.
    • Placement: Describe the physical location of the product among its closest competitors (a quick picture of the shelf would tell a good story!), and describe what this placement says about the marketing strategy.
    • Pricing: Describe the pricing strategy. A good description would include observations about the closest competitive product and its relative pricing.
    • Promotion: Describe how the product is being promoted. You could include any obvious physical/in-store promotions seen on the shelf, as well as flyers, coupons, social media, online advertising, etc.
    • Other factors: You might notice other important factors about your product that lie outside the four Ps. You can include them in your report here. One example might be a unique distribution system for your product.

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