In$-$Class Workshop #$4$: The Marketing Mix

For this in$-$class workshop, you will begin working on your own and then bring your ideas to your team for discussion and collaboration.

Prior to Class:

Using the framework provided, put your intial thoughts to paper and then share them with your team during the In$-$Class Workshop. Each student is responsible to complete this individual activity prior to class. You will be expected to upload these files to Moodle before class begins.

Step $1$: Put Your Thoughts to Paper

You have been a part of this project since the very beginning. I am certain that you have some ideas on which direction you'd like to take this marketing plan. Now is your time to provide those insights. For each of the categories below, provide your suggestions on how to improve the marketing mix for this product. Be very clear about the changes you want to make. $($Note: not all of the listed elements require change. The changes you suggest will be based on your professional opinions. You will discuss these with your team during the workshop to arrive at consensus.$)$

PRODUCT: Do you suggest making changes to the features, quality, branding, packaging, service or warranties of the product in this plan? If so $-$ what changes do you suggest? How will these changes$/$improvements solve the challenges faced by your target customer $($customer benefits$)?$ Will these changes result in a competitive advantage? Why or why not? How will this change affect the other Ps of the marketing mix?

PRICE: How much do you suggest selling this product for? Is it a competitive price that is realistic for your customer's budget $($cost perception$)?$ What price strategy do you suggest using and when? Will you suggest seasonal promotions$/$discounts for this product? Why and what promotions$/$discounts do you suggest? How will this change affect the other Ps of the marketing mix?

PLACE: Where do you suggest making this product available for consumers to buy? $($Think geographic locations $-$ and $-$ distribution channels$)$ How often will you make this product available to purchase? How will your suggestions affect customer convenience? Explain. How will this change affect the other Ps of the marketing mix?

PROMOTION: How do you plan to promote this product? Think beyond social media. Will you use sales promotion? Group advertising? Public relations? Events? Digital marketing? Or a combination of many of them to communicate the benefits, price, and availability of this product to potential customers? How will positioning and branding affect your choices? How will changes made here affect the other Ps of the marketing mix?

Save the document file and upload it to Moodle before the workshop begins. In playdoh