MKT501 Assignment # 1 Solution

TENTATIVE SOLUTION FOR ASSIGNMENT‐01
COURSE: MARKETING MANAGEMENT (MKT‐501)



Requirement

Supposed you have been hired as a Marketing manager in a Food Supplement Company. Your company is planning to introduce Packed Branded Fresh Vegetables in the market. Selected target market for your company is Lahore. Now you are required to prepare an analyses based report based on all 4 Ps before launching this new product in the market shoing suggested strategic decisions for all 4 Ps.


Based on your marketing Mix analysis, how will you fix following decisions?


Product Decisions

Pricing Decisions

Placement Decisions

Promotion Decisions


Solution

(Student answer can vary but concept should clear)


As a marketing manager I’ll take the decision of market mix as follows.


Product Decision

1) I will introduce all the seasonal and non seasonal vegetables. There will be wide variety of vegetables.

2) I will never compromise on quality. Quality assurance will be my main emphasis.

3) I will introduce the brand of my company’s vegetables.

4) Packaging of my products will be attractive, appealing and transparent; clearly mentioning the expiry date.

5) There will be different sizes as per usage of vegetables e.g. ½ kg, 1kg and so on.

6) Hopefully customer will never return our products due to good quality but in case of any damage, rotten etc. we will change our vegetables.


Pricing Decision

1) I will use the skimming pricing strategy.

2) I will give the discounts at large quantities of vegetables.

3) I will use the psychological pricing strategy.

4) After analyzing one quarter of my business, I’ll set the segmented prices for different locations of Lahore.

5) I will give the allowances to our most loyal customers.


Placement Decision

1) We will directly purchase from producer.

2) Our vegetables will be available at all big areas of Lahore.

3) Our distribution team will deliver the vegetables at all of our outlets.

4) We will use our own transport; due to on time delivery.

5) We will not emphasis on stock/inventory but purchase the fresh vegetables from producer.


Promotion Decision

1) I will use billboards in Lahore, Radio and local news papers because our target market is only one city.

2) I will make the sales promotion team.

3) I will also focus on publicity.

4) I will only emphasis first 3 months for heavy promotion; after that our brand will be its own recognition and customers will purchase due to good word of mouth.