Can someone help me with business assignment (1 Viewer)

[lavagirl]

1)[FONT=&quot] [/FONT]Explain the meaning of marketing
Marketing is a system which focuses on satisfying consumer’s wants and needs at a profit. It includes business activities designed to plan, price, promote and distribute. It also ensures how successful a product has been. Marketing is linked with advertising and is undertaken by a business sending out information to customers about the business’s product, making it appealing in order to sell it. Although, marketing is not the same as selling – selling is only one part of the marketing system. Marketing consists researching what customers really want and need, then satisfying the customer’s desires. Marketing decides what sort of goods and services a business will produce and also decides the cost and availability of the good or service.

2)[FONT=&quot] [/FONT]Define the concepts target market and marketing mix
The target market is a group of customers (could be people of businesses) whom a business specifically aims its marketing efforts and merchandise.
Marketing mix is a strategy that determines the success of a product in the marketplace. It is the combination of elements a business will use to market their product. Marketing mix consists of the ‘four P’s’ which are – product, price, placement/distribution and promotion.


3)[FONT=&quot] [/FONT]Using a sample product of your choosing, OUTLINE the elements of the marketing mix you would use to maximise sales.
Product: Wireless earphones; branded – beats by Dr Love. Targeting teenage boys aged 12 – 19. The wireless earphones are designed to make life easier for those MP3 player users as wires will not be tangled because there are no wires. The main features of the earphones are:
-[FONT=&quot] [/FONT]It is rechargeable. Does not use batteries or electricity – uses solar energy. Chargers due to sunlight.
-[FONT=&quot] [/FONT]Bass boosting earphones.


So like for question 3, I don't really get what we're meant to write about. I know we're supposed to write about the 4 p's and like stuff.. but hmm HOW do I put my information into it.. If you get me?
And would I need to explain more in question 2? Or... is that ok, since it's asking me to DEFINE it..


Please help!

s

 

[pony_magician]

How are all the parts weighted? What's worth what?

2) Target Markets can be broken into demographic (age, gender, income etc), psychographic (frequency of purchase, interests, opinions (eg. non-smoker)), geographic (weather, region etc)

3) Depending on how this part is weighted as to how much detail buuut

Product: branding, packaging, positioning of earphones. Are they low/high quality? Products image-- seen as a luxury?

EG: The headphones have a bright packaging designed to attract the attention of shoppers. The headphones are a high quality product, and thus have am image of luxury, which may encourage consumers to buy over lower-quality headphones


Price: how is it priced? cost plus, market price, competitor price

EG The headphones are priced at a market price, meaning it sells for what people are willing to pay.

Promotion: advertising-- tv, newspaper, radio,, communication (word of mouth)

EG Headphones will be advertised in the X magazine, which is distributed to the target market of 12-19 males.


Place: selective/exclusive distribution? is it sold through a wholesaler?

EG: The headphones will be sold in all major retailers in order to maximise sales as the more places it is sold, the more sales.


Obviously, a lot more detail is needed, but if you have any questions, PM me or something.

 

[lavagirl]

How are all the parts weighted? What's worth what?

2) Target Markets can be broken into demographic (age, gender, income etc), psychographic (frequency of purchase, interests, opinions (eg. non-smoker)), geographic (weather, region etc)

3) Depending on how this part is weighted as to how much detail buuut

Product: branding, packaging, positioning of earphones. Are they low/high quality? Products image-- seen as a luxury?

EG: The headphones have a bright packaging designed to attract the attention of shoppers. The headphones are a high quality product, and thus have am image of luxury, which may encourage consumers to buy over lower-quality headphones


Price: how is it priced? cost plus, market price, competitor price

EG The headphones are priced at a market price, meaning it sells for what people are willing to pay.

Promotion: advertising-- tv, newspaper, radio,, communication (word of mouth)

EG Headphones will be advertised in the X magazine, which is distributed to the target market of 12-19 males.


Place: selective/exclusive distribution? is it sold through a wholesaler?

EG: The headphones will be sold in all major retailers in order to maximise sales as the more places it is sold, the more sales.


Obviously, a lot more detail is needed, but if you have any questions, PM me or something.

Yeah I completed it but like, the teacher expects like the most for promotion and product to talk about. but I'm really like, I don't know what to write for promotion and product. What does it mean by product postioning?
Thanks for the help btw