Topic > Understanding the Marketing Mix: Selecting a Mix Variable

To get started, you need to decide which part of the marketing mix to focus on first: price, product, or promotion. What is the best starting point for your marketing mix decisions? We choose the product as the best starting point for your marketing mix decisions. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay To be successful, we must develop the ability to select and offer the right products or services to your customers in a competitive market. We chose the product because it is best to make decisions about pricing and promotions once the product features have been established. We believe that the more you think about a product or service before bringing it to market, the better your decisions will be. Now that you are considering the product first, what elements should you include in your analysis? We have chosen the design, product name and packaging as important elements to include in the analysis. We've gotten to this point since these three elements are all part of the "product" category, product packaging can play a role in the success or failure of your product's sales. We believe that a product's packaging, the design, can be what attracts the consumer to take a look at the product as it is on store shelves. Many companies conduct extensive research on product color schemes, designs, and packaging types that are the most appealing to the intended consumer. Based on your focus testing, ask your product research team to develop different formulas for Blythe. They give you three new options. We have chosen that Formula 2 is best for beautifying the skin and at a reasonable cost, but has only limited therapeutic benefits. Because it best responded to the number one need identified by the focus group: beautifying the skin. consumers were teenagers, they can't afford expensive creams and we believe formula 2 is best for their needs as most girls want a beautifying cream. You also need to decide on the best packaging style for Blythe. Your design team has come up with three options. Based on what you learned from your focus group, what is the best packaging style? We chose our packaging in a shocking pink box. Print the slogan "Bring out your outer beauty." at the top in black letters. The slogan on the packaging makes Blythe more attractive to its target market. For all the best products, slogans are a vital part of marketing and have been used to drive business and engage customers for many years. We believe the slogan highlights your outer beauty is very catchy, memorable and helps in enhancing brand identity. Next you need to choose a pricing strategy for Blythe. Keep your product formulation decision in mind as you make this choice. We agree with the penetration pricing method: a low initial price to capture market share and achieve high sales volume. Penetration pricing would have encouraged consumers to develop the purchasing habit. It would also fit well with the limited budget of the target market: teenage girls. This marketing strategy is based on the idea that low prices can help make the customer aware and more willing to purchase a new product. High sales volume can also lead to lower production costs and higher inventory turnover, both of which are positive for any company with fixed overhead. Next, you need to carefully consider how best to promote Blythe in the.