The Marketing Mix Purpose: To enforce the value of the marketing mix elements in

Question

The Marketing Mix

Purpose: To enforce the value of the marketing mix elements in designing a marketing strategy.

Background: Given the highly competitive marketing environment, many marketers focus on specific segments of consumers when designing and building products, setting the price, determining where the products will be placed on shelves, and designing the promotions. This process is known as building the marketing mix.

Directions: Review the elements of the marketing mix—product, price, promotion, and place. In 1 - 2 pages, explain how the marketer of each of the products/services (below) has built the marketing mix.

Products:

Old Navy

Wendy’s

Manchester Community College (NH)

Questions to address in your assignment:

Do any of the products/services presented have more than one target market? Explain your answer.

What factors determine the price of the products/services presented? Explain your answer.

Do the marketers use various types of promotion? Explain your answer.

Please note that students can bullet their answers; however, answers must be thoroughly explained and free of grammatical errors.

Explanation / Answer

1) Old Navy

Product - Old Navy is a clothing brand that sells apparels of all kinds, topwears, bottomwears, jeans, shirts, sleepwears, kidswears etc. Its target market is people of allage groups as can be seen from the assortment of products that it sells. It's tagline, which comes from its parent company Gap, 'there's a gap for evryone' also signifies this wide TG.

Price - Old Navy's price wise TG is lower-middle to middle class people and hence their products are a little cheaper than their competitor brands. Their price is also market driven.

Place - Old Nay's stores are built like a grocery store where in people can walk in and add items to their cart. This saves service charges and the benefits are passed on to the customers by lowering the prices. Apart from usual brick and mortar stores, they sell their products online too.

Promotion - Old Navy focuses a lot on promotions. It frquently shows its mascots, magic the dog and Morgan Fairchild, in its advertisements. It also provide discount coupons, sales and other usual in store discounts for promotions.

2) Wendy's

Product - Wendy's is known for hamburgers but its product line consists of burgers, salads, chicken, beverages etc. too. Its target market is narrow in terms of income group they are serving and is target towards middle income group (though everyone eats it). In terms of age and gender, Wendy's is more targeted towards age group 8-35 years males and females, though again everyone eats its products.

Price - Wendy's pricing strategy is highly market oriented and it adjusts its prices based on supply and demand. It also uses product-bundle strategy for pricing.

Place - Wendy's primary place of sales is its own stores. It carries bulk of it sales there. It uses mall kiosks as well along with having mobile app and website for ordering purpose too.

Promotion - Wendy's major source of promotion is its advertisements (print, tv, online etc.). It also uses sales promotion (discount coupons, discount days etc.) and public relations.

3) Manchester Community College NH

Product - The product of Manchester Comm. College is its degree certificates/services that they provide. Each product is targeted towards a different set of customer and has varied set of target markets. For example, a bachelor's degree in commerce would be targeted towards people who had accounts in their secondary grade school, whereas a science degree would be for science subject ones.

Price - Since it's a public college, the price of MCC are on a lower side as compared to other premier universities.The programs are mainly targeted towards middle class people.

Promotion - Promotions are again course specific. Most of the promotion is online, on its website, online cataloguesand some tv ads. Not a lot of paid media is focused up on.

Place - Place is its classrooms. Place in this case is basically the arae where they provide their services. It also provides certain online courses.

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