Marketing is all around you. Marketing is more than advertising – it is all decisions related to the 4Ps, as I outlined in my weekly memo.
Your assignment this week is a scavenger hunt. You will be a better marketer if you pay attention examples of good (and bad) marketing. This assignment will help you begin noticing how you are impacted by each of the 4 elements of the marketing mix every day.
Your task is to cite outstanding examples (good or bad) of marketing that you experience.
1. Product — Describe a product that is either so bad or so good that you remember it. Remember "Product" also includes the package, warranty, and service.
2. Price – Describe a product that you believe was priced too high or too low. Maybe the price was more than the money you spent, but was something else you gave up, like time to stand in a long line.
3. Place – Describe a restaurant or retail establishment that is in a great location or a lousy location. What makes that location good or bad? Or was a store not open when you expected it to be or was a product you wanted out-of-stock.
4. Promotion – Give examples of each form of Promotion: advertising, sales promotion. public relations, social media and personal selling.
Have fun with this. I’m looking forward to reading about the good and bad marketing you experience. We may get some ideas for our clients!
(Tip: The examples do not have to all be from the same company. For example, you might talk about product for Coke and place for Netflix)
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