Develop a Coherent Marketing Mix for a New Product or Service. What Is the Marketing Mix

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Develop a coherent marketing mix for a new product or service. What is the Marketing Mix? In this task, I will develop a coherent marketing mix for a new product or service. I will also state the marketing mix for the product. The marketing mix is the term used to describe the most fundamental of marketing concepts, called the 4 P's. These are price, product, promotion and place. The product A product is seen as an item that satisfies what a consumer demands. It is a tangible good or an intangible service. Every product is subject to a life-cycle including a growth phase followed by a maturity phase and finally an eventual period of decline as sales falls. Marketers must do careful research on how long the life cycle of the product they are marketing is likely to be and focus their attention on different challenges that arise as the product move. The product that I have created is called a McDonalds Texas BBQ burger. This is a burger that contains BBQ chicken with cheese. It is served in a toasted sesame bun with crispy lettuce, sliced tomato, crispy fried onions and homemade Smokey McDonalds BBQ sauce. This burger is aimed at teens and up to 40 year olds. This product would be branded as a sub-brand because McDonalds have other types of chicken burgers. I did some research in the market and I found out there are not a lot of competitors when it comes to BBQ chicken burgers apart from Tinseltown. They take up a big chuck in the market but with McDonalds being such a big well-known brand this will not affect us that much. The USP of this product is the sweet succulent taste of the BBQ chicken and sauce that comes up after you eat the burger. The price Of all the aspects of the marketing mix, price is the one, which creates sales. The price of an item is clearly an important determinant of the value of sales. Researching consumers' opinions about pricing

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