MKTG101Chapter2Simulations.docx - Ch 2_NEW Mini Sim_Marketing Mix Ch 2_NEW Mini Sim_Marketing Plan Ch 2_NEW Mini Sim_Strategic Marketing Marketing Mix

MKTG101Chapter2Simulations.docx - Ch 2_NEW Mini...

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Ch 2_NEW! Mini Sim_Marketing Mix Ch 2_NEW! Mini Sim_Marketing Plan Ch 2_NEW! Mini Sim_Strategic Marketing Marketing Mix Learning Objectives At the end of this exercise, you should be able to: LO 2.3: Explain marketing's role in strategic planning and how marketing works with its partners to create and deliver customer value. LO 2.4: Describe the elements of a customer value-driven marketing strategy and mix and the forces that influence it. Scenario In Fine Fettle is a natural foods brand that manufactures high-quality products using healthy, premium ingredients. In Fine Fettle, which translates to "In Good Heath," produces foods that contain health-promoting ingredients like turmeric, apple cider vinegar, avocado oil, and kefir. In Fine Fettle's latest product line features turmeric, the spice that gives curry its yellow color.
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Your boss, the VP of Marketing, has developed a marketing strategy for the product line and now requires your assistance in developing the marketing mix. Click Next to begin your challenge. Good luck!
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The VP of Marketing brings you up to speed on In Fine Fettle's turmeric product line: "Our food scientists have created three turmeric-based products: meal replacement shakes, soups, and nutritional gummies. Turmeric has been shown to have many health benefits including reducing inflammation, improving brain function, and fighting depression." "We need to have a strong launch for this product line. Therefore, we must consider each element of the marketing mix carefully -- product, price, promotion, and place." "Your job is to develop a marketing mix plan that will create demand for turmeric-based products over the next year. Our goal is to target the growing market of consumers who are demanding healthier foods. These consumers understand the role food plays in health and wellness and are willing to pay more for functional foods. Keep in mind that food marketing is a competitive industry, and our success depends on a strong launch." Click Next to continue.
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Decision Point: Which 'P' You Should Start With To begin, you must decide which part of the marketing mix to focus on first: product, price, promotion, or place. Which is the best starting point for your marketing mix decisions? VP of Marketing: "Remember that each marketing mix decision will have implications for the remaining decisions. Think carefully about which part of the marketing mix to start with, because each one will affect the others." Select an option from the choices below and click Submit . Product Place Promotion Price Submit You selected product as the first factor to consider in the marketing mix. This was the best choice , because price, promotion, and place decisions are best made once the product has been determined.
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  • Spring '11
  • KELLY
  • Marketing, product line, Yellow, treads

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