Question

The foundation of every marketing strategy is the identification of a target market and the development of a marketing mix. The marketing mix is commonly referred to as the 4 P's of marketing: Product Price Place (also called distribution) Promotion Think about a fairly significant purchase you made recently and analyze how this product or service was marketed to you by the company. Do you think you are part of the target market that the company identified for this product? How did the company use the 4 P's of marketing to try to convince you to buy this product?

Answer 1

This assessment will be about a product purchased by the person recently, that is Apple I phone X.

This product got marked by the company through various advertisements on television, newspapers, and social media platforms.

Yes, the person thinks he is a part of the target market that the company identified for this product. The company targets high-income group people, and he lies in a similar income group.

the company use 4Ps of marketing to try and convince to buy the product as follows:

1. Product:

the company focuses on research and development to introduce new mobile phone models in the market.

The company also focuses on the sleek design of the mobile phone and has a brand image that attracts most customers.

2. Price:

the company focuses on knowing price skimming because it is to attract higher-income group people.

3. Physical distribution:

The company tries to directly deal with the consumer as much as possible, through their retail outlets and online websites.

The company also have other suppliers complementary to their retail outlets.

4. Promotion:

The company promotes its product in numerous ways over the internet; it also advertises on televisions and magazines sometimes.