900 Unit 4 Discussion: Pricing Strategies A Overview: The marketing mix is a key set of...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
900 Unit 4 Discussion: Pricing Strategies A Overview: The marketing mix is a key set of tools within the microenvironment, which helps an organization produce the response it wants from their target market. It's made of up the 4Ps, which include product, price, place, and promotion. When these four factors are aligned properly, they play an important role because it encompasses everything an organization can do to deliver customer value and engage consumers. Simulated Business Scenario: Zihan is a baker who is planning to start his own business and open a bakery in his hometown in Connecticut. Her has spent a lot of time and effort perfecting the cookie recipe, which she has been making over the years from a family recipe. Zihan is concerned that she is spending too much time and effort on the actual cookie recipe (product) and not enough time on the remaining 3Ps. In order to ensure a successful launch of her new business, Zihan hired you to help with the bakery's grand opening She asked you to prepare a report detailing what the bakery can do to deliver customer value. Questions: What would you recommend Zihan do to create a proper balance between the 4Ps (integrated marketing mix) for hier bakery? In other words, what would you advise Zihan create a balance with all 4Ps: • Product • Price • Place • Promotion 900 Unit 4 Discussion: Pricing Strategies A Overview: The marketing mix is a key set of tools within the microenvironment, which helps an organization produce the response it wants from their target market. It's made of up the 4Ps, which include product, price, place, and promotion. When these four factors are aligned properly, they play an important role because it encompasses everything an organization can do to deliver customer value and engage consumers. Simulated Business Scenario: Zihan is a baker who is planning to start his own business and open a bakery in his hometown in Connecticut. Her has spent a lot of time and effort perfecting the cookie recipe, which she has been making over the years from a family recipe. Zihan is concerned that she is spending too much time and effort on the actual cookie recipe (product) and not enough time on the remaining 3Ps. In order to ensure a successful launch of her new business, Zihan hired you to help with the bakery's grand opening She asked you to prepare a report detailing what the bakery can do to deliver customer value. Questions: What would you recommend Zihan do to create a proper balance between the 4Ps (integrated marketing mix) for hier bakery? In other words, what would you advise Zihan create a balance with all 4Ps: • Product • Price • Place • Promotion
Expert Answer:
Answer rating: 100% (QA)
To create a proper balance between the 4Ps for Zihans bakery and deliver customer value the followin... View the full answer
Related Book For
Posted Date:
Students also viewed these marketing questions
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
Currently the rate of return of the risk-free government bond is 3% while the expected rate of return on the market is 11%. Using CAPM, calculate the rate of return required for A plc who has a beta...
-
Craig Computers makes bulk purchases of small computers, stocks them in conveniently located warehouses, and ships them to its chain of retail stores. Following is Craig's balance sheet as of...
-
How can you provide people with the extrinsic motivation they need to establish a supportive work environment while also promoting intrinsic motivation within them? Could you also provide a concrete...
-
Although not accompanied by an affidavit showing good cause, a subpoena that requests a nonparty to appear and testify at a deposition must be accompanied by witness fees and mileage costs, as set...
-
1. What forms of homeowners insurance are available? Which forms should the Salazars consider? 2. What are the perils against which the home and its contents should be insured? 3. Discuss the types...
-
Sales Cost of goods sold Accounts receivable 2021 $ 553,188 273,512 26,830 2020 $ 359,213 177,614 20,978 2019 $ 287,370 144,011 19,599 2018 $ 197,505 97,827 11,534 2017 $ 148,500 72,765 10,143...
-
A randomized controlled trial comparing two drugs for treating insomnia is said to have 85% power to detect a 20% relative reduction (RR=0.80) in sleep problems nine months following treatment at the...
-
Smart Company provided the following information on selected transactions during 2022: Dividends paid to preferred stockholders $ 400,000 Proceeds (cash in) from issuing bonds (To Long Term...
-
Solving via linear equation No unread replies.No replies. A small country exports soybeans and flowers. Soybeans require 8 workers per acre, flowers require 12 workers per acre, and 100,000 workers...
-
Consider the following T-account for Accounts payable. Accounts Payable Debit Credit 10,500 8,800 4,800 ? Balance Compute the ending balance of the Accounts Payable account.
-
You are an aspiring financial analyst tasked with evaluating two different investment opportunities, Investment Option X and Investment Option Y. You have been provided with some key financial data...
-
1. What could be added to each expression to make it a perfect square? a.+12x b. x-6x+1 c.+ 14x-10 2. Solve the equation x - 16x=-60 by completing the square. Show your reasoning.
-
(b) A person of mass 75 kg is standing in a lift (elevator), which is accelerating upwards from rest at rate 0.7 m/s. Take acceleration due to gravity g = 9.8 m/s. (i) How much heavier does the...
-
1. Which of the following accurately describes a hypothesis test? an inferential technique that uses the data from a sample to draw inferences about a population b. an inferential technique that uses...
-
1. True or False. Pitfalls to consider in a statistical test include nonrandom samples, small sample size, and lack of causal links. 2. Because 25 percent of the students in my morning statistics...
-
Secondary data consist of information that already exists somewhere, having been collected for another purpose. One of the main sources of secondary data is the U.S. Census. Take a look at the 2010...
-
Comparative advertising can be a very powerful form of advertising-if used correctly. Watch some of the Apple iMac ads comparing (favorably) a Mac to a PC. Discuss what makes these ads so effective....
-
Discuss how companies can reach their teen markets using socially responsible target marketing. Cite an example of a company being responsible in targeting teens and another example where a company...
-
List the reports available for reporting cash flows.
-
What additional steps are necessary to create a statement of cash flows for a period other than the one ending on the computers current system date?
-
Identify three different periods of time that QuickBooks Accountant provides for a statement of cash flows.
Study smarter with the SolutionInn App