Product and Channel Strategy
MT219M4-4: Apply product and place Marketing Mix elements to a product or service.
GEL-6.02: Incorporate outside research into an original work appropriately.
Product and place are two of the four marketing mix components that are uniquely configured for a product or service to satisfy customer needs and/or wants.
Your task is the following: Based on the reading in the text and the learning activities regarding the marketing mix, select one of the provided products or services and answer the checklist items in a thorough manner.
Step 1: Select one of the following products for this assessment for the fictional company Prodserve, Corp.
-A new cool mist humidifier that reduces dry air and also serves as an air freshener. Presently, the scents come in mint, apple and spice, and cinnamon.
-A new toothbrush that dispenses toothpaste automatically into the toothbrush with a small button on the handle. The toothpaste comes in a variety of flavors, including cinnamon, peppermint, spearmint, and bubble gum.
-A new wireless headphone and microphone that fit in the palm of your hand and have superior output and volume.
-A new foldable chair that can be carried in one hand and holds up to 300 pounds.
-A new transcription tool with 98% accuracy.
Step 2: Apply product elements to make this product complete by thoroughly describing them.
- Describe the type of product you selected and include product attributes like quality, features, benefits, style, and design.
- Provide a proposed product line (depth) and product mix (the 4 Pâ€™s; width) for your good. See Exhibit 10.1 in the text.
- Describe the elements of the productâ€™s branding (i.e., brand name, sponsor, and brand strategy).
- Provide a packaging plan and any warranty or copyright involved if applicable.
Step 3: Assume Prodserveâ€™s new product you selected used a direct channel of distribution (i.e., producer sells directly to the consumer via their website) to sell their products to their customers. They are now considering using intermediaries like agents, wholesalers, and retailers to get their products to their customers.
- Discuss at least two (2) different distribution models available for getting the product from the producer to the consumer.
- Using scholarly research, explain the advantages and disadvantages of using intermediaries. Provide 2â€“3 direct quotes and/or paraphrases from your research, incorporating them into your paper where appropriate in support of your contentions using APA 7th edition in-text citation style. Make sure to add an additional reference page that includes a reference for each article you cited in current APA format.
- Considering factors like your brand and target audience, explain what type of retailers would be the best match for your new product and why.
- Provide at least one distribution model that would be most effective for the Proserviceâ€™s new product. Explain why it would be most effective.
- Provide an original minimum 3-page paper or a minimum of 700 words to address steps 1â€“3, with additional title and reference pages using current APA format and citation style.
Submit your paper to the assessment Dropbox.
Disclaimer: This exercise may include actual companies and brand names solely for instructional purposes; this exercise is not associated with any such actual company or brand name. All trademarks remain the property of their respective owners.