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Developing a Coherent Market Mix

In: Business and Management

Submitted By 08chrmed
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Assignment 4 - Design the marketing mix for a product or service
Waitrose 1
Kangaroo Steaks
Waitrose 1
Kangaroo Steaks

The product that I have decided to design is Kangaroo Steaks. I have chosen this because the company doesn’t currently promote a varied range of this. The name and design needs to be bold and attractive to customers when launching a brand. And the unique thought of Kangaroo meat certainly raises attraction to the product. This is also taking into account the 4 p’s of marketing to make the brand successful.
Price – Because the product is a top end range, which is focused at hitting the top two bands of the marketing segments, the price will be rather expensive. This will highlight the quality of the product as well as the rarity of the product. Getting the right price is essential in making the sales of the product. I want to make sure that my product sells and the competitors don’t see a rise in sales on the same product because it’s overpriced.
Promotion – Promotion is just as important as advertising a product in the right way to make sure it will have the best impact on the way the product sells. When advertising it is important that you get the brand name and the message you want across to the potential customers, consumers and buyers. I plan to advertise this product through the Waitrose weekly magazine as well as through television and social media. My promotion also has to be interesting enough to make sure that the rival competitors don’t reap the rewards of the product. The product can't be a seasonal product, because the annual sales need to generate sales and income all year round. The product will have an introductory offer which will entice beginner sales, this is to hope that the product is a hit and the customers, consumers and buyers will come back to purchase the product again.
Place – it is important that the…...

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