Sunday, July 28, 2019

Discussion Question Week 1 Damn Heels and the 4P's Assignment

Discussion Question Week 1 Damn Heels and the 4P's - Assignment Example 2). The information provided through case facts have assisted in identifying crucial information needed in identifying the 4P’s. The description of the product included the raw materials used, the sizes and color, as well as the packaging. Pricing strategies included the stipulated target prices ($20) and how it was priced in comparison with those pegged by the competitors (average of $25). Therefore, by pricing the product lower, it has potentials of attracting new and prospective buyers. Likewise, since the target buyers, from the conducted market survey were composed of post-secondary students within the age range of 20 to 22 years of age, then, the price set was just within their affordable budgets. The product was noted to be marketed through retailers (previously known business owners) and also eventually through the online medium. Finally, it was disclosed that promotions would be minimal given that no funds were immediately available. Thus, the product would rely on the s kills of the retailers. One strongly believes that the weakness in the strategy of Coleman falls in the lack of promotions or advertising campaign. Since this is a new product to be launched, it is crucial to enhance product awareness which could only be made through advertising and promotions. Likewise, since the target clients are potentially students, Coleman could actually approach schools or academic institutions as retailers; rather than relying on clubs or lounges. The online medium could also be pursued since most of the young adults use this medium for their purchase decisions. 2. From the scenario, specify the main ways in which the 4P’s of marketing can help the marketing intern offer suggestions to her manager for the new product launch. Provide specific examples that illustrate the relationship between of the 4Ps and the new product launch. The 4P’s of marketing can help the

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