Assignment
What is the Introduction to Poliglu International Translator?
1) THE MARKETING MIX
a) What is the core customer value provided by this product or service?
2) The Product Strategy
Consider any relevant strengths, weaknesses, and target markets from Assignment 1A to identify the following:
a) Describe the actual product and how it will provide utility and value for consumers.
b) Identify the brand name and/or logo to be used and discuss its appropriateness and effectiveness. If no brand name or logo have been developed, what do you recommend and why?
c) What key features are provided (or do you recommend be provided) in terms of packaging?
i) What initial pricing strategy do you recommend for your product, and why?
3) The Price Strategy
As you know, pricing strategy is more than just a price tag. Considering the target markets and financial objectives identified and consider the following:
a) How sensitive will demand be for this product in terms of price elasticity?
b) What various price adjustments do you anticipate implementing over each stage of the product life cycle, and why?
4) The Place StrategyDetermine how to best create value for both your consumer and your distribution channel members. Specifically, you may need to decide on and justify:
a) What type of marketing channel(s) do you recommend, including the number and type of intermediaries to be used? How does each member of this channel add value? How will consumers get your product?
5) The Promotion StrategyList the most effective strategies and methods to reach your target group and to achieve your goal. Provide general details on the following elements of the promotion mix:
a) Advertising: Which method will you use to set your advertising budget, and why? What specific channels do you recommend, and with what frequency?
b) Sales promotion: What short-term incentives will you introduce to encourage consumers to purchase your product?
c) Personal selling: How do you propose to use your sales force to build customer relationships in addition to making sales?
d) Public relations: How do you propose to build positive relationships with your various publics, while managing unfavorable stories or events?
e) Direct marketing: How will you utilize direct marketing channels to target individual customers to obtain immediate responses and cultivate lasting relationships?
6) CONCLUSION
One to two paragraphs that summarizes