Question

Group activity: Continue with the same products that you have been working with in previous class. Design the marketing mix required to launch it. How will you communicate its benefits? What types of distribution will you use? How will you determine the price? When will you launch?

Answer 1

importance or benefits of marketing mit moder include Better allocation of marketing Budgets, Belles election of ad campaigne, Bluviners scenario testing etc. Better allocation of marketing budgebis cused to identity most suitale marketing chanet to achieve marketing objectives and get maximum retums Through Marketing Mie Model , market can suggest optimal épend levels is highly effective marketing chanels to avoid saturation Marketing Mit Model can be used to forecast business metrics based on planned marketing activities and then fimulate various business scenarios Types oy Distribution: There are basically 4 types of marketing channel: Direct selling, selling through intermediaries, dual distribution and reverse channels. Direet selling. Direet selling markeHng and selling og products directly to customers away from a fleed retail location, Peddling the oldest forms of direct selling. Modern direct suwng Indudes sales through party plan, one-on-one demonstrations, contact personal arrangements internet sales etc. is the 12/12 =

channel nehere intermediaru such as neholecaller Direct celung is different from Dress Mantening in that it is about individual salu ngonts maching and dealing directly worth allents nenite direct maxbeting is about burnert organisations seeking a relationship with theſe customers without going through an agent /conultant ® retail outler, Selưng through fotermediaries. A ma marketing and retailers are utilised to make a product availalele to the customer is called an indirect channel. The most indirect channel we use is Podducer / Manufacturer → Agent → heholesaler → Retailer consumer customers. Dual Distribution: Dual Distribution describes a wide variety of marketing arrangement by nehich manufacturer or nenolesalers more than one channel simultaneously to reach the end user. They may cell directly to the end reser as weu as to other companies for resale. Oring 2 or more channeb to attract same target market can sometimes lead to I channel conflict Rerere channel: so cause of Reverse channels, goods floco in the reverse Afrection and go consumer to intermediary to beneficiary, 30 reverse channel, there won't be producer, we will only Had a user or beneficiary. from case of 13/13 a =

Pricing strategy depends on the product itself, com peti Hre environment, wetumei demand. cost plus strategy is taking production cost and adding certain profit percentage. The rescetting amount will be products mee. We have to consider both variare and fixed production costs for cost ples pricing method. Joltead of using production cost as bare, we can corrider customer's perception of product value cender Vauce Based approach. The perception of the buyer is dependent on quality of the product, company reputation, healthtunen berides cuest factors We can take a survey of pricing implemented by our competitors on similai product that we we are trying to market and thessdecide whether to price the product lower or same or higher 14/14 =