decision in marketing
MKT 555: DECISIONS IN MARKETING MANAGEMENT
Professor: Andrew Gallan
Assignment #1: The Marketing Mix
Please respond to the following questions. Remember, you are part of a marketing management team that is responsible for a mop/broom combination. The performance of the product is not meeting expectations, and you need to propose changes to the marketing mix (4Ps) that will help to increase revenue generation.
Limit your write-up to no more than one 8.5x11” single-spaced page, with one inch margins and 12 point font. This assignment is worth 10 points. This assignment is due no later than the start of next class by posting it to D2L/DropBox.
The quality of your grade will be based upon how well you integrate the proposed changes among the various components of the marketing mix. A complete assignment will be more than a simple list of ideas for each category, but rather will propose an important change to the product that will necessitate thinking through the implications for how you will handle each component of the marketing mix. For instance, if you think you should try to reach a new target market, tell me what changes to the product you think are appropriate, how you might communicate this to this target market, how you might get new customers to try and then to buy and use the product, which new distribution/retail channels would be appropriate for this new market, and how you would price the new/altered product.
Questions:
1. How might you alter the product? (2pts)
2. How might you change its promotion? (2pts)
3. How might you find new places to sell this product? (2pts)
4. How might you assess its price? (2pts)
5. Also, please provide a brief description of the most likely target market. (2pts)
Assignments may lose points for any the following issues:
− More than one page.
− Incorrect format (8.5” x 11” only).
− Missing student name on document.
− Poor writing quality. If the quality of your writing precludes an assessment of your
Professor: Andrew Gallan
Assignment #1: The Marketing Mix
Please respond to the following questions. Remember, you are part of a marketing management team that is responsible for a mop/broom combination. The performance of the product is not meeting expectations, and you need to propose changes to the marketing mix (4Ps) that will help to increase revenue generation.
Limit your write-up to no more than one 8.5x11” single-spaced page, with one inch margins and 12 point font. This assignment is worth 10 points. This assignment is due no later than the start of next class by posting it to D2L/DropBox.
The quality of your grade will be based upon how well you integrate the proposed changes among the various components of the marketing mix. A complete assignment will be more than a simple list of ideas for each category, but rather will propose an important change to the product that will necessitate thinking through the implications for how you will handle each component of the marketing mix. For instance, if you think you should try to reach a new target market, tell me what changes to the product you think are appropriate, how you might communicate this to this target market, how you might get new customers to try and then to buy and use the product, which new distribution/retail channels would be appropriate for this new market, and how you would price the new/altered product.
Questions:
1. How might you alter the product? (2pts)
2. How might you change its promotion? (2pts)
3. How might you find new places to sell this product? (2pts)
4. How might you assess its price? (2pts)
5. Also, please provide a brief description of the most likely target market. (2pts)
Assignments may lose points for any the following issues:
− More than one page.
− Incorrect format (8.5” x 11” only).
− Missing student name on document.
− Poor writing quality. If the quality of your writing precludes an assessment of your