Write a 3–5-page report that evaluates the marketing mix for a product and the effectiveness of the marketing communication strategy across the marketing mix. Identify a weak point in the marketing mix.
Note: You are encouraged to complete the assessments in this course in the order in which they are presented.
- Competency 2: Evaluate different marketing strategies and methods.
- Evaluate the marketing mix for a product.
- Evaluate the effectiveness of a company’s communication strategy as part of the marketing mix.
- Explain a weak point in a company’s marketing mix for a product.
- Competency 5: Communicate in a manner that is professional and consistent with expectations for members of the business profession.
- Correctly format citations and references using current APA style.
- Write content clearly and logically with correct use of grammar, punctuation, and mechanics.
A marketing mix strategy incorporates different marketing tools to achieve the desired financial results. The tools include product, price, distribution, and promotion. A marketing mix strategy used in international or global markets should also consider the legal and socio-cultural conditions in those countries where it is targeted.
Questions to Consider
As you prepare to complete this assessment, you may want to think about other related issues to deepen your understanding or broaden your viewpoint. You are encouraged to consider the questions below and discuss them with a fellow learner, a work associate, an interested friend, or a member of your professional community. Note that these questions are for your own development and exploration and do not need to be completed or submitted as part of your assessment.
- When creating a plan for marketing communications, how might the knowledge about each market segment be used to choose the most effective media, tools, and approaches for each segment?
Are there any approaches that might actually alienate a particular market segment?
In your marketing mix analysis, complete the following:
- Evaluate the marketing mix for the product you selected.
- Analyze the pricing strategy for the product. How does the pricing align to the company’s overall pricing strategy? How does it compare to competitors? Where does it fall in the market—at the high end, as a midrange product, or as the low cost alternative?
- Analyze the channels of distribution. How does the company move its products to market? How effective are the logistics? Do the channels fit the image of the product you selected? Is the company missing any productive channels? How might the company gain better penetration in existing channels?
- Analyze the marketing message. How does the company deliver its message to the marketplace? To what extent does the company integrate print, media, and Internet efforts in its marketing? In what manner does the company use social media to support its marketing efforts?
- Evaluate the effectiveness of the company’s marketing communications strategy across the marketing mix. (You should focus on the strategy for your product.)
- Identify one aspect of the marketing mix that you see as a weakness in terms of the product. Explain why this is a weakness and include specific examples from the company’s current marketing activities.
- Include a title page and reference page.
- Length: 3–5 double-spaced pages, not including title page and reference page.
- Resources: At least 4. Resources must be formatted according to current APA guidelines.
- Font: Times New Roman, 12-point.
Marketing Mix Analysis Scoring Guide