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A2: MARKETING MIX TO DELIVER CUSTOMER VALUE/BENEFIT FOR A GOOD

Assignment Topic: New Balance 550s

Product Category= Footwear (sneakers)

Specific product item, Brand name= New Balance 550s,

Target Customers= Sneaker collectors, athletes, fashion-forward individuals,

Geographic Market Area (location)= Global Market presence for online sales, sports-focused regions.

Need(s) satisfied= style and fashion statement, comfort and support for sports and daily activities, high quality and durable footwear, variety of designs and colors to match personal style,

1. Marketers Action/Effort

Product: design and manufacture high-quality New Balance 550 sneakers with various color options.

Customer Benefit: customers get stylish, comfortable, and durable sneakers suitable for various occasions.

1. Marketers Action/Effort

Price: competitive pricing strategies, occasional discounts, or promotions.

Customer Benefit: customers get value for money while enjoying affordable access to New Balance 550s.

1. Marketers Action/Effort

Distribution: widespread distribution through both physical stores and online platforms.

Customer Benefit: accessibility and convenience; customers can easily find and purchase the sneakers.

1. Marketers Action/Effort

Advertising: utilize various advertising channels, including social media, magazines, and influencers, to showcase the products style and performance.

Customer Benefit: Awareness and knowledge about the product, leading to informed purchase decisions.

1. Marketers Action/Effort

Personal Selling: trained sales representatives in physical stores to provide personalized recommendations and assistance.

Customer Benefit: personalized shopping experience, addressing individual needs and preferences.

1. Marketers Action/Effort

Sales Promotion: periodic promotions, such as Buy One Get One or limited time discounts.

Customer Benefit: cost savings and incentives for making a purchase.

1. Marketers Action/Effort

Before and After sales service: offers warranties, easy return policies, and responsive customer support.

Customer Benefit: assurance of product quality and support in case of issues and concerns

1. Marketers Action/Effort

Public relations: engage in community and charity initiatives, maintain a positive brand image.

Customer Benefit: enhanced brand perception and a sense of contributing to a socially responsible company.

1. Marketers Action/Effort

People: train and empower employees to provide excellent customer service.

Customer Benefit: friendly and knowledgeable staff, ensuring a pleasant shopping experience.

1. Marketers Action/Effort

Presentation: use visually appealing packaging and in-store displays.

Customer Benefit: attractive presentation enhances the overall buying experience and reflects the brands quality.