Imagine that you are a small online retailer and your business is picking up greatly, especially in some markets. Create a list of products that you sell, who your target market is, how you differentiate, and discuss optimal strategies for the 4Ps of marketing for your retail business.
Discuss how these strategies would differ if you added a physical retail location.
Using the company/organization that you have chosen for your marketing plan (final project), answer the following questions:
- Look at the Figure in Chapter 14 entitled, Integrated Marketing Communications, that outlines the blended mix of promotional tools (advertising, personal selling, sales promotion etc.). Consider which mix of tools will be best suited to the company/organization (choose at least 2).
- Discuss why these would be the best marketing communication tools and summarize what kind of marketing communication you would employ (for example, what type of sales promotion would you recommend for the company etc.).
- What types of advertising objectives would you recommend (see table entitled ‘Possible Advertising Objectives” in Chapter 15)?
- How could a cloud based CRM tool help this company/organization?
After submitting to the dropbox, save this document for your final project in which you will edit this dropbox assignment to fit the purposes of the final project.
Choose a product/service (not the same one you are using for the final project (marketing plan). Answer the following questions:
- Considering direct, online, social media and mobile marketing options, which 2 options do you feel would be the best to use in relation to the product/service you have chosen? Why?
- Describe the options you justified above and outline specific methods you would adopt in using those 2 options. Discuss specific uses, platforms, and messages you would ensure are marketed through these options.
- What one strategy could be adopted to create a competitive advantage for that product/service? Provide an analysis of this decision.
(For all dropbox assignments, remember to reference at least 2 sources; one must be the textbook plus one from a website, video, or other source. Use quotes for direct material taken and cite even if paraphrasing. )