How the marketing mix supports a particular positioning statement

Satisfaction: repeat purchase, likely to have some as loyal customer

More customers growing dissatisfied with banks.

 

6.5 How do consumers dispose of this product after its usage? Chapter 7: suggest how customers can dispose the product (e.g. recycling) Slide 10.

 

6.6 Loyalty- Do potential segments differ in their loyalty to the existing product? Are brand-loyal purchases encouraged? How?  REFER TO 3.2: you need to explain how likely this potential segment (e.g. elderly) would use the product and become a loyal customer slide 23 chapter 7, at least 2 relationships.

 

10 general articles at google scholars (MUST BE REAL article, find from year 2000 onwards)

 

  1. Marketing Strategy Section 7 600 words; you need to compare the chosen brand (Toshiba) and the main competitor (LG)

 

7.1 Compare the marketing approach of your chosen and a competitor’s product. On the basis of your research, explain:

 

– How the firm’s (Toshiba) current marketing strategy can account for the product’s success, and

– How the marketing mix supports a particular positioning statement

This can be done in terms of comparing:

 

Marketing mix approach

Product – What characteristics of the physical product and or service appeal to how the product is positioned for each segment? Is the product considered an innovation? What characteristics could possibly impede rapid diffusion?

 

Price – Is price considered an important evaluative criterion? How readily would this segment respond to price reductions? Is price relevant as an indicator of status?

Promotion –What values are important for each segment that can be used in a communication strategy? What media is currently used? How effective do you believe is this strategy?

Place- Do the different segments have differing requirements of the distribution system? What type of distribution system is consistent with the lifestyle(s) of each segment?

 

Start with a table to compare the 4Ps of the two brands (stated above – answer as many questions as possible); then use the information from the table to answer the first two questions

 

Toshiba LG
Product Product – What characteristics of the physical product and or service appeal to how the product is positioned for each segment? Is the product considered an innovation? What characteristics could possibly impede rapid diffusion?  Product – What characteristics of the physical product and or service appeal to how the product is positioned for each segment? Is the product considered an innovation? What characteristics could possibly impede rapid diffusion? 
Price Price – Is price considered an important evaluative criterion? How readily would this segment respond to price reductions? Is price relevant as an indicator of status? Price – Is price considered an important evaluative criterion? How readily would this segment respond to price reductions? Is price relevant as an indicator of status?
Promotion Promotion –What values are important for each segment that can be used in a communication strategy? What media is currently used? How effective do you believe is this strategy? Promotion –What values are important for each segment that can be used in a communication strategy? What media is currently used? How effective do you believe is this strategy?
Place Place- Do the different segments have differing requirements of the distribution system? What type of distribution system is consistent with the lifestyle(s) of each segment? Place- Do the different segments have differing requirements of the distribution system? What type of distribution system is consistent with the lifestyle(s) of each segment?

 

Then you may answer / present the two questions

1st paragraph:  whether the campaign is a success

– How the firm’s (Toshiba) current marketing strategy can account for the product’s success, and

2nd paragraph:  positioning statement – if the brand does not have a positioning statement, you need to write one on behalf of them

How the marketing mix supports a particular positioning statement

 

 

 

  1. Evaluation and Recommendations Section 8 700 words +/-

This section of your report should clearly assess each marketer’s application of knowledge of consumer behaviour theory and principlesinvestigated in sections 4-6.

Choose TWO advertisements. One for the main brand Toshiba (can be the same that you use under “perception”) and one for the main competitor LG

Or

Compare TWO marketing approaches, but it would be more challenging.

You need to scan the image for submission within the report; not in the appendices

Choose TWO theories(e.g. classical conditioning; reference group) and then compare these two ads to decide which ONE is more effective (at the end of the comparison, you may suggest the competitor’s ad is more effective)

 

On the basis of this evaluation, explain which of the two marketing/advertising campaigns- that of your chosen product and competitor’s product-the group considers is more effective in contributing to the overall success of the product.  Clearly discuss and justify your reasons.

 

The evaluation should also include future recommendations for the company   – for the chosen brand only (Toshiba); follow strictly the following headings; do not change and add new points

  • product positioning

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