E4) Describe your marketing strategy using the marketing mix.
The marketing mix is commonly referred to as the "4 p's-, which stand for price, place, promotion and product. These are the four principles of a product which should lay the foundations for the launch and the growth of a product. My product will initially follow the code of the marketing mix therefore it should be successful in its campaign. .
Product.
Product is in fact the range of products that a business offers to the market place. Decisions have to be made about quantities, timing product variations associated services, quality, style and even the packaging and branding. Most organisations which are large offer more than just one product or service for the different types of segments. However the basic principle still remains, quality must always be high and consistent for the sale of products to be high and again constant. The product I am focusing on launching is my soft drink, which I will ensure reaches highest quality in production and there after. Branded products are said to be more likely to sell more than normal own branded goods. For example Coca Cola compared to Sainsbury Cola. However I firmly believe that using the right marketing techniques and good uses of promotion will enable me to establish a well reputable product.
The product I will be focusing on offering the market is my soft drink which I will name " Juiceter-.
The product life cycle.
Development Launch Growth Maturity Decline.
Stage 1 2 3 4 5.
Just as everything else does, eventually most if not all products will die out. The product life cycle measures where abouts in the cycle my product would be. There are five stages in the cycle, my product should experience each of them.
Stage 1: Development.
No product is dreamt of on the Monday and launched on the Tuesday! Each new product and idea must take careful planning and thoughtful research for it to be successful.
