Mkt 421

b. How does the mission relate to the type of products the company sells? (1-3

4.Product, price, place and promotion make up the elements of a firm 's marketing mix.

(b) diversified its product portfolio; extend target customers and meet the variable needs of customers.

30) The introduction of a new product to the market using market-penetration pricing is most likely to be successful when _____________.

35) Because of Coca-Cola’s size and power in the marketplace, they tend to dominate some members in the channel. This allows them to require strong cooperation from resellers who carry Coke products. This is an example of a(n) _____________.

2. List five examples of products that are commonly purchased as either business products or consumer products. How would the classification impact the marketing strategy? 1. Maintenance people are always going to need things repaired. Some people cannot repair things themselves or do not have the time. This will keep job for people and equipment being bought. 2. Materials people are going to always have a need for raw materials. People will need to produce these items keeping the market moving. 3. Clothing people are always in need of clothing through the season changes as well as the fashion trends. 4. Technology such as phones, cameras, mp3 players. These items are always upgrading and getting a new version. 5. Furniture styles are always changing on these items keeping stylist, builders, and manufactures in business.

36. A consumer's belief about a product may have a positive or negative effect on his or her attitudes about

All products have a lifecycle. They begin as an idea that needs Research and Development (R&D) or time to develop. This is a direct cost to the company. Once the product and/or service is ready to be marketed, it goes through five stages: development, introduction, growth, maturity, and decline.

C. How did this affect the product’s marketing mix price, promotion, packaging and distribution decisions?

1. For the new marketing opportunity and in relation to the product or service, answer the following questions?

2. Product Line and Positioning Choice – The product line itself has to be determined. Is it

The term marketing mix can be depicted as the types of choices that an organization will make in the process of bringing a service or product to the market. The marketing mix consists of the 4Ps: the product and/or service, place, price, and promotion. The help of the High Risk Clinic is beneficial for women and their close family members with any of the following could benefit from the High Risk Breast Clinic:

Introducing a new product is an activity that involves a high risk and requires the application of a high content of resources; material, financial and human that

Based on all of the answer above and the work you have completed in relation to question 1 and 2, identify and describe the best marketing mix for the new product or service opportunity. Provide your reasons for this choice.

The product life cycle consists of six stages, these stages are; planning, defining, designing, building, testing and deployment.