Marketing Lesson 5

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Marketing Lesson 5 Chap 1. 1. What should Jean- Pierre do as a first step when developing his marketing plan? A. 4 P (Product, Price, Place, & Promotion). Jean Pierre needs to write a marketing plan. A marketing plan is written document composed of analysis of the current marketing situation, opportunities, and threats for the firm, marketing objectives and strategy specified in terms for the four Ps (Product, Price, Place, & Promotion), action programs, and projected or pro forma income and other financial statements. Within the marketing plan that JP develops; the marketing plan needs to specify the marketing activities for a specific period of time. The marketing plan needs to be broken down into various components – how the product/and or service in this case will be conceived or designed, how much it should cost, where and how it will be promoted, and how will it get to the consumer. 2. When the U.S. Army advertises, “Be all You Can Be, Join the Army,” which of the three primary advertising objectives are they primarily pursuing? A. This typifies that marketing is about an exchange – trade of things of value between the buyer (the recruit) and the seller (Army), so that each is better off as result. The marketing mix is what the Army uses to respond to the wants of its target market(s). This example is a combination of Product (creating value) and price (capturing value). The recruit offers their life to be a better person or to reach their full potential. 3. How could you use marketing ideas to market yourself to potential employers after you graduate? A. I would need to develop a marketing plan, but first I would need to determine my target/goal: either Contracting or Acquisition. Once my goal is determined, I would need to tailor my strategy to my target audience i.e. focus it on my career highlights and achievements in
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