MT 450 MT450 MT/450 Evaluating the Marketing Mix
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MT 450 MT450 MT/450 Evaluating the Marketing Mix
Evaluating the Marketing Mix MT 450 – Marketing Management July 26, 2016 Kathryn Kelly
Date: July 26, 2016
To: CEO of Home Essentials
From: Marketing Manager
Subject: Evaluating the Marketing Mix
The problem that we are facing is introducing a new product, the baby gate/play area without doing research to see what new prospective parents will think of the products and possible questions they will have about it. We have given our new parents a price for our product but not why it is worth that for the safety of their newborns.
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MT 450 MT450 MT/450 Evaluating the Marketing Mix
Evaluating the Marketing Mix MT 450 – Marketing Management July 26, 2016 Kathryn Kelly
Date: July 26, 2016
To: CEO of Home Essentials
From: Marketing Manager
Subject: Evaluating the Marketing Mix
The problem that we are facing is introducing a new product, the baby gate/play area without doing research to see what new prospective parents will think of the products and possible questions they will have about it. We have given our new parents a price for our product but not why it is worth that for the safety of their newborns.
For us to fix this problem, I feel that we need to go back and focus on the four steps to forecast total market demand. Then we will be able to decide on which media will work best for us and also use the 4 P’s to make our new product successful.
1.Define the market
2.Divide total industry demand into its main components
The second step in forecasting is to divide total demand into its main components for separate analysis. We need to do research to find out the total industry demand for these baby gates/play areas and in what regions the demand is higher and why
MT 450 MT450 MT/450 Evaluating the Marketing Mix
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MT 450 MT450 MT/450 Evaluating the Marketing Mix
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MT 450 MT450 MT/450 Evaluating the Marketing Mix
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