Homework Assignment #1 (Chapter 2)

The Marketing Mix

The term marketing mix refers to a unique blend of product, distribution (place), promotion, and pricing strategies designed to produce mutually satisfying exchanges with a target market.

Purpose: This assignment will demonstrate to you and to your instructor that you understand the elements of the marketing mix and how they relate to products in the marketplace.

Assignment:

STEP 1: Choose a tangible good*, or service with which you have actually used or a service you have actually experienced. This should be an EXISTING product as opposed to a hypothetical product. DO NOT MAKE UP A SCENARIO AND DO NOT USE YOUR OWN PLANNED BUSINESS (You may want to review the four parts of the marketing mix from section 2-10 of your textbook before beginning this assignment).

*Your textbook defines a product as a tangible good such as a computer or services such as medical care or a haircut)

STEP 2: Read Chapter 2 and review the PowerPoint Slides

Submit your work by typing the text into the reply box in Canvas. You should not upload a file OR email the work directly to the professor.

STEP 3: Answer the following questions. Questions should be answered in short paragraphs (3-5 sentences). There should be at least one paragraph per question. Please spell and grammar check your work prior to submission.

1. What is the marketing mix for the product you chose in STEP 1?
   2. In what way did the product result in a satisfying exchange for you? If you were not satisfied, explain why.