MARKETING TASK 3 Understand the individual elements of the extended marketing mix The service marketing mix is also known as an extended marketing mix and is an integral part of a service blueprint design. The service marketing mix consists of 7 P’s as compared to the 4 P’s of a product marketing mix. Simply said, the service marketing mix assumes the service as a product itself. However it adds 3 more P’s which are required for optimum service delivery. The product marketing mix consists
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the Margaux family wanted to begin mass marketing a new wine brand. The idea would be to use different grapes in order to be more accessible to the younger generation. The target price range would be €20-€25 per bottle (Dessain, 2011). There are a large number of young wine drinkers who cannot afford the high prices of the current Gran Vin brand and are therefore not being attracted to the Château de Margaux vineyards. If these consumers were introduced to an affordable brand of wine from the
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| Assignment Answers - Price | | | | Pricing Concepts Assignments AnswersBelow are listed the answers to the assignments available within the student view:1. Why is merchandise so important to a Premier League soccer club? Why do clubs go into retailing and mail-order when their core business is football?Answer: It is important because: * it generates extra revenue over and above gate receipts, television rights, etc. * there are particularly high margins to be earned easily * fans
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1. How cost reduction and local responsiveness influence the strategies of companies? - Why cost reduction influence the strategies of companies? Price of a products is make up of 3 part: producing cost, profit for producers and value added to products. The lower price, the more competitive an enterprise is. Do you want to lower your profit? Besides, for some commodity type product like: medicines, gas, sugar,... There’s not much different or bring more value to customers.
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two locations that I eat at on a regular basis and I was very surprised at what I discovered. In order to set a baseline for this project I chose to stick to the Small, Medium and Large Pizza deals. These prices are all based on a one topping peperoni pizza. In both cases though the prices were different, the extra toppings were both $.75 apiece. Since this was a constant variable for both locations, I decided it wasn’t that necessary to include. The two locations I decided to use were “I Love
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12-4 |e| = -.05 MC = 0 $20 daily 9am capacity 96% If at 9 am the lot is still not full at the price of $20 daily, I feel the company should reduce their prices to ensure maximum capacity of the parking lot. Because (P-MC)/P =1/|e| are not equal, I believe that the parking lot isn’t optimizing their profit. If the two equaled each other and the MR<MC then the parking lot would be optimizing their total profit. I feel they would optimize profit by offering a rate of $16 daily. 14-4
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content to Netflix raise prices, the company has to raise subscription fees of their customers. The key to an application that streams media content like Netflix is the price of services. The price of services is what lures a customer, which provides income for the company. Many customers will not pay over a certain amount for the application, because the movie selection is good, but not that wonderful. Customers might as well have available Cable TV, or satellite TV if prices go any higher. That is
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portable mp3 players, there has been a considerable increase in music downloads. Instead of buying the whole CD, consumers prefer to buy the song they want online. Having the ability to purchase just the songs you want compared to paying the full price of the CD is what causes the consumers to lean more toward downloading. Another reason is that with the more gadgets being invented, it is easier to place all your music on one device to listen to, instead of carrying around a bunch of bulky CDs which
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Deep pockets; ability to leverage core product from one segment to another without major design/development changes. 2. Make sure there exists a market problem/pain that currently demands a solution. Is the problem large enough to justify the price of your solution? Is someone with P/L responsibility willing to pay for the solution? Test: Are you able to clearly delineate a value proposition that gets a customer’s attention? 3. Solve the customers problem, don’t just build cool technology
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Management of Super Bakery Inc. University of Phoenix Online/ACC561 December 17, 2012 ABC and Management of Super Bakery Inc. Franco Harris is a former running back. He played for the Steelers and now owns the Super Bakery Inc. Company. This company supplies schools with baked goods like donuts that are vitamin and protein enriched. Super Bakery Inc. is a virtual company. Management Strategies Being a virtual company Super Bakery Inc. has few functions inside the company. The others
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