Question
Congratulations! You have just been contacted to interview for a marketing position. To prepare for your interview, you start thinking about the company’s current marketing strategies, its target market, and its marketing mix. Using only your current knowledge (no internet searches yet) and making your best guesses, what is the company’s marketing mix (product, price, place and promotion)? Who is the company’s target market and what are the demographics (age, income, education level, gender, occupation/job) of that market? What message is the company trying to communicate to its target audience?
Now that you have completed the first step, you may use the internet and other available resources to research the answers. List your answers in the BusinessU platform. Reflecting on your initial answers, were your guesses accurate? Were you surprised by anything you found in your research?
Finally, you know you want to impress the interviewer. One way to do this is to suggest ways the company may be able to target a new audience, change up its marketing mix, or in some other way meet its business goals. You are smart and you have some ideas. Thinking about the company’s existing marketing strategy, create a marketing plan/proposal that will help the company either target a new customer group.
BusinessU Challenge: Want a challenge? Design a plan, strategy that targets the new customer demographic/s in some way. For example, Heelys wheeled shoes are used mostly by children ages 6-14. What would a marketing strategy look like to get an adult (a parent, your teacher, or a coach) to use them? Most Xbox users are males under 35. What would Xbox need to do differently to market to women over 65?
You will submit your new marketing plans, along with a visual representation (presentation, infographic, poster, etc.), in the BusinessU platform.
Be prepared to pitch your proposed marketing plan and share your visual representation with the “Chief Marketing Officer” and your classmates.
Completed 0 out of 3 questions.
Question 1 of 3
Using only your current knowledge (no internet searches yet) and making your best guesses, what is the company’s marketing mix (product, price, place and promotion)? Who is the company’s target market and what are the demographics (age, income, education level, gender, occupation/job) of that market? What message is the company trying to communicate to its target audience?
Type your answer in the box below.
Question 2 of 3
Reflecting on your initial answers, were your guesses on the company's marketing mix accurate? Were you surprised by anything you found in your research?
Type your answer in the box below.
Question 3 of 3
Submit your new marketing plans, along with a visual representation (presentation, infographic, poster, etc.), in the BusinessU platform.
Now that you have completed the first step, you may use the internet and other available resources to research the answers. List your answers in the BusinessU platform. Reflecting on your initial answers, were your guesses accurate? Were you surprised by anything you found in your research?
Finally, you know you want to impress the interviewer. One way to do this is to suggest ways the company may be able to target a new audience, change up its marketing mix, or in some other way meet its business goals. You are smart and you have some ideas. Thinking about the company’s existing marketing strategy, create a marketing plan/proposal that will help the company either target a new customer group.
BusinessU Challenge: Want a challenge? Design a plan, strategy that targets the new customer demographic/s in some way. For example, Heelys wheeled shoes are used mostly by children ages 6-14. What would a marketing strategy look like to get an adult (a parent, your teacher, or a coach) to use them? Most Xbox users are males under 35. What would Xbox need to do differently to market to women over 65?
You will submit your new marketing plans, along with a visual representation (presentation, infographic, poster, etc.), in the BusinessU platform.
Be prepared to pitch your proposed marketing plan and share your visual representation with the “Chief Marketing Officer” and your classmates.
Completed 0 out of 3 questions.
Question 1 of 3
Using only your current knowledge (no internet searches yet) and making your best guesses, what is the company’s marketing mix (product, price, place and promotion)? Who is the company’s target market and what are the demographics (age, income, education level, gender, occupation/job) of that market? What message is the company trying to communicate to its target audience?
Type your answer in the box below.
Question 2 of 3
Reflecting on your initial answers, were your guesses on the company's marketing mix accurate? Were you surprised by anything you found in your research?
Type your answer in the box below.
Question 3 of 3
Submit your new marketing plans, along with a visual representation (presentation, infographic, poster, etc.), in the BusinessU platform.
Answers
GPT-4o mini
Certainly! Let's break down the response to each question systematically:
### Question 1 of 3
**Company: [Assumed Company Name] - Let's say it’s a hypothetical company that sells eco-friendly skin care products.**
1. **Marketing Mix:**
- **Product:** A line of eco-friendly skin care products, including moisturizers, cleansers, and sunscreens made from natural ingredients, packaged in recyclable materials.
- **Price:** Products are priced at a premium compared to conventional skin care products to reflect their quality and sustainable sourcing, targeting $25-$50 per item.
- **Place:** Products are distributed through online channels (company website, e-commerce platforms like Amazon), specialty health and beauty stores, and select eco-friendly retail outlets.
- **Promotion:** Marketing strategies include social media campaigns focusing on sustainability, influencer partnerships, search engine marketing, email newsletters, and participation in eco-conscious trade shows.
2. **Target Market & Demographics:**
- **Target Market:** Environmentally conscious consumers, primarily women, interested in natural beauty and wellness.
- **Demographics:**
- **Age:** 25-45 years old
- **Income Level:** Middle to upper-middle class (annual income of $50,000 to $100,000+)
- **Education Level:** College-educated
- **Gender:** Predominantly female
- **Occupation/Job:** Professionals, health and wellness advocates, or individuals working in eco-friendly industries.
3. **Message:**
- The company communicates the message that using eco-friendly skin care products is not only beneficial for the skin, but also contributes to the health of the planet. The tagline might be something like, "Nourish Your Skin, Heal the Earth."
### Question 2 of 3
**Reflection:**
Upon conducting research, I found that my initial guesses about the company's marketing mix were largely accurate. The company's product line indeed consists of eco-friendly skin care items. However, I was surprised to discover that their pricing strategy includes a wider range of products at varying price points to attract more market segments. Additionally, the focus on community engagement through local events and partnerships was emphasized more than I anticipated. This approach enhances brand loyalty and resonates well with the target market's values of sustainability and community support.
### Question 3 of 3
**New Marketing Proposal:**
**Targeting a New Customer Group:**
- **New Demographic Target:** Men aged 25-40 who are increasingly interested in grooming and skincare.
- **Strategy:**
- **Product Development:** Introduce a skincare line specifically for men that incorporates powerful natural ingredients and addresses common skincare issues like acne, shaving irritation, and anti-aging.
- **Promotion:** Launch a new marketing campaign featuring male influencers and athletes demonstrating the effectiveness of the new products. Use platforms like Instagram and YouTube for tutorials and testimonials.
- **Place:** Expand distribution to include men’s grooming sections in pharmacies and supermarkets, alongside existing online channels.
- **Community Involvement:** Host workshops in collaboration with barbershops focusing on men’s skincare education.
**Visual Representation Idea:** Create an infographic that outlines the new strategies, highlights key products for men, and summarizes the benefits of eco-friendly skincare for men.
### Submission
Make sure to create and submit the visual aids alongside this narrative to illustrate your marketing proposal effectively in the BusinessU platform.
Feel free to modify, or add any specific details related to the actual company or market you're applying this exercise to!
### Question 1 of 3
**Company: [Assumed Company Name] - Let's say it’s a hypothetical company that sells eco-friendly skin care products.**
1. **Marketing Mix:**
- **Product:** A line of eco-friendly skin care products, including moisturizers, cleansers, and sunscreens made from natural ingredients, packaged in recyclable materials.
- **Price:** Products are priced at a premium compared to conventional skin care products to reflect their quality and sustainable sourcing, targeting $25-$50 per item.
- **Place:** Products are distributed through online channels (company website, e-commerce platforms like Amazon), specialty health and beauty stores, and select eco-friendly retail outlets.
- **Promotion:** Marketing strategies include social media campaigns focusing on sustainability, influencer partnerships, search engine marketing, email newsletters, and participation in eco-conscious trade shows.
2. **Target Market & Demographics:**
- **Target Market:** Environmentally conscious consumers, primarily women, interested in natural beauty and wellness.
- **Demographics:**
- **Age:** 25-45 years old
- **Income Level:** Middle to upper-middle class (annual income of $50,000 to $100,000+)
- **Education Level:** College-educated
- **Gender:** Predominantly female
- **Occupation/Job:** Professionals, health and wellness advocates, or individuals working in eco-friendly industries.
3. **Message:**
- The company communicates the message that using eco-friendly skin care products is not only beneficial for the skin, but also contributes to the health of the planet. The tagline might be something like, "Nourish Your Skin, Heal the Earth."
### Question 2 of 3
**Reflection:**
Upon conducting research, I found that my initial guesses about the company's marketing mix were largely accurate. The company's product line indeed consists of eco-friendly skin care items. However, I was surprised to discover that their pricing strategy includes a wider range of products at varying price points to attract more market segments. Additionally, the focus on community engagement through local events and partnerships was emphasized more than I anticipated. This approach enhances brand loyalty and resonates well with the target market's values of sustainability and community support.
### Question 3 of 3
**New Marketing Proposal:**
**Targeting a New Customer Group:**
- **New Demographic Target:** Men aged 25-40 who are increasingly interested in grooming and skincare.
- **Strategy:**
- **Product Development:** Introduce a skincare line specifically for men that incorporates powerful natural ingredients and addresses common skincare issues like acne, shaving irritation, and anti-aging.
- **Promotion:** Launch a new marketing campaign featuring male influencers and athletes demonstrating the effectiveness of the new products. Use platforms like Instagram and YouTube for tutorials and testimonials.
- **Place:** Expand distribution to include men’s grooming sections in pharmacies and supermarkets, alongside existing online channels.
- **Community Involvement:** Host workshops in collaboration with barbershops focusing on men’s skincare education.
**Visual Representation Idea:** Create an infographic that outlines the new strategies, highlights key products for men, and summarizes the benefits of eco-friendly skincare for men.
### Submission
Make sure to create and submit the visual aids alongside this narrative to illustrate your marketing proposal effectively in the BusinessU platform.
Feel free to modify, or add any specific details related to the actual company or market you're applying this exercise to!