Pick a tangible product namely “TAIFA laptops” and prepare a report on the marketing mix actually used for that product. Discuss this product in a single report describing product, place, promotion, and price.

Divide the report into four sections and devote at least one page to each section.

1. Product this section is the heart of the marketing mix and should describe the product offering and product strategy. The product includes not only the physical unit but also its package, warranty, after-sale service, brand name, company image, value and many other factors.

2. Place the section should describe the place associated with your product. Place is concerned with making products available when and where customers want them. A part of place is physical distribution, which involves all the business activities concerned with storing and transporting finished products. The goal is to make sure that the products arrive in usable conditions at designated places where they are needed.

3. Promotion this section should describe the promotion associated with your product. Promotion includes advertising, public relations, sales promotion and personal selling. Promotion’s role in the marketing mix is to bring about mutually satisfying exchanges with target markets by informing, educating, persuading and reminding them of the benefits of an organization or product.

4. Price this section should describe the pricing strategies associated with your product. Price is what a buyer must give up to obtain a product. It is often the most flexible of the four mix elements- the quickest element to change. It is an important competitive weapon and is very important to the organization because price multiplied by the number of units sold equals’ total revenue for the firm.

Answer rating: 100% (QA)

Introduction Due to the increasing need for advancement in the section of technology a novel set of laptops has been brought into being TAIFA laptops are amongst the locally assembled types of portabl... View the full answer