Monitor and Adjust the Marketing Mix
Task: This assessment requires you to write and present a report on the marketing mix in their own workplace on a workplace that they are familiar with. The full report should address the evaluation of component within the marketing mix and marketing performance. The report is to be presented to the class.
The report and he presentation should consider the key characteristics of the product, the promotion methods and each component of the dratted marketing mix. The report needs to evaluate the contribution made towards the origination's marketing objective, strategies and desired positioning.
Prepare your report by explaining the points below
1. The key characteristics of the products and/or services and then significance to the market.
2 Pricing policy and analyze pricing variables to determine their effect on demand. Include a copy of your origination's policy and submit it as evidence along with your report.
3. The significance to market outcomes of
a. promotional methods
b. customer base
c. channel. of distribution
d. the level of customer Knife provided
4. The marketing mix components Include information on how each element of the marketing flux his been used. Analyze and test their significance to each other and relevance to customer base.
5. Environmental factors and assess their potential impact on the marketing mix.
6. Customer/consumer priorities, needs sad preferences and the way they impact the marketing mix
7. Product, pricing, promotional activities, distribution channels and service variations. If additional products or services or new products will be offered, evaluate these against marketing objective, target market characteristics and desired positioning.
8. The marketing mix in relation to your organization strategic and operational marketing objectives. Select the most appropriate mix and explain tour decision.
9. The performance of the organization's products and or services in order determine which components should be trued
10. The implication of altering one or more components of the marketing mix in response to market factors and consumer response.
11. Adjusted components of the marketing mix in response to test results. Ensuring that the final mix meets:
a. budget requirements
b. organizational strategic objectives
C. operational marketing objectives
d desired market positioning
Discuss whether or not any further adjustments were needed in order to meet these requirements.
Then prepare power-point slides and present m the class with inclusive of the above contents.