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Posted: September 5th, 2023
6.
Marketing Mix Decisions:
Place (Distribution) Decisions. Describe the type of sales, shipping, storage, retailers, and wholesalers that are used to make the product available to your target market. This is your distribution plan. How will customers be able to buy your product?
Price Decisions. This section will discuss the cost of the product, along with financial goals, distribution prices (prices to wholesalers, retailers, etc.), and prices to the final consumer. You will need to have an idea of how many products you will need to sell to breakeven, and make a profit. Estimate: sales, cost of goods sold, variable and fixed costs, and gross profit margin. Since this analysis is “pro forma,” you will have to make certain assumptions in order to do the analysis. I am interested in the logic of your assumptions (regarding sales, costs, etc.) much more than the accuracy of your numbers – which will be hypothetical anyway.
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Promotion Decisions. Discuss your Integrated Marketing Communication plan. Address how you will use the different elements of the IMC: advertising, direct marketing, personal selling, sales promotion, and public relations. Each element of the promotional mix should be under its own sub-heading in this section.
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