Product, price, place, and promotion are the four main elements of the marketing mix.Pricing is critical because it results in profits for the organization. However, if the price is too high or too low, customers may not want the product.
Promotions are essential as well because customers would not know about a product or service unless they are marketed information about them.
Review these materials for more information on the four Ps of marketing:
What Are the 4 Ps of Marketing? The Marketing Mix Explained
The 4 Ps of Marketing – The Marketing Mix Explained
Select a hair shampoo brand with which you are familiar. Download the assignment template here. Then, in a 3–5-page paper, answer the following questions:
How is the product priced?
How does this product compare to competitors’ price points?
How is the product promoted (traditional channels, digital channels, or both)?
Individual Project Rubric
The Individual Project (IP) Grading Rubric is a scoring tool that represents the performance expectations for the IP. This Individual Project Grading Rubric is divided into components that provide a clear description of what should be included within each component of the IP. It’s the roadmap that can help you in the development of your IP.
ExpectationPoints PossiblePoints EarnedCommentsIdentifies a specific hair shampoo product (brand)
Discusses how the product is priced by comparing and contrasting various pricing approaches
Evaluates product price compared to competitor brands
Recognizes and provides examples of how the product is promoted
Professional Language: Assignment contains accurate grammar, spelling, and punctuation with few or no errors. (APA formatting is required or style specified in assignment).10
Business Assignment Help At a currency exchange bureau, on average a customer arrives every 5 minutes and takes 4 minutes to be served. Considering the assumptions of a single channel queuing model, determine the following:
a) Average no. of arrivals per minute
b) Service rate
c) The traffic intensity
d) Fraction of the time the service point/cashier is busy
e) The probability the cashier is busy
f) Expected no. of customers in the system
g) The average length of the queue (no. of customers waiting in the queue)
h) The mean time a customer spends in the system
i) The mean time a customer spends in the queue
please read milestone 1 that i just uploaded and answer these questions What are your current thoughts on the Essay
please read milestone 1 that i just uploaded and answer these questions
What are your current thoughts on the recommendation for incremental or discontinuous innovation?
What are your thoughts on the risks and benefits of each option?
How do you think the company from the course scenario will be able to compete in the marketplace?
Describe the advantages and disadvantages of both incremental and discontinuous innovation.
How will the costs related to each option differ?
How will the marketing approach for each option differ?