For a large discount retail store like Target and Walmart, it can be difficult to get the marketing mix just right for a given product. There are so many products in the store fighting for the attention of customers. There is also the challenge of helping the suppliers of each product maximize their profits while making sure the store is making money. With so many things to consider, working in marketing for such a large business can be a challenge.
This week, you’ll be acting as a Marketing Manager in the sporting goods section.
Marketing Managers are responsible for developing, implementing and executing marketing plans, either for an entire organization or for particular categories or products within the organization, in order to attract potential customers and keep existing ones.
Their day-to-day tasks include managing and coordinating marketing and creative staff, leading market research to improve existing products and services, working with advertising agencies, and determining the best way to get products in front of customers.
As a marketing manager for a discount retail store in Brooklyn, you have been asked to evaluate a marketing plan for basketballs to ensure that the 4 P’s of marketing are being applied well. Using your knowledge of the 4 P’s and the best approach to generating sales, you’ll take a look at a number of marketing recommendations and choose the approach that you believe will sell the most products.
In the Marketing Analysis Presentation provided by your marketing team, you’ll see three different basketballs that need to be included in the product display. Each product has unique features.
On the Marketing Analysis Presentation, you’ll see the results of a survey that asked potential buyers about where they are most likely to purchase these products.
The Marketing Analysis Presentation shows three recommended advertisements, including a special deal promotion, for the product that is expected to sell the best.
Finally, Look at the pricing options available for each of the three products together.
Note: You should complete Step 5 after reading the material in Week 7.
The company that makes one of the basketballs is looking to rebrand the product. They have asked for your input on possible brand ideas.
The marketing plan for the basketballs at the Brooklyn store has been in place now for four months, and the marketing team has assembled a report reviewing sales data and customer feedback for the last quarter’s basketball sales. Overall, the results are lower than you expected and you are concerned that your marketing and creative staff have not properly segmented your target customers. Remember, like many products in the marketplace, the basketball’s marketing campaigns must target two different groups of customers: (1) adults who purchase the item as a gift and, therefore, do not actually use the product; and (2) adults and teenagers who purchase the item for their own use and enjoyment. Both groups have different reasons and expectations surrounding the item in question, and those reasons and expectations will have significant impacts on the buyers’ purchasing decisions.
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