Case Study Marketing Mix And Marketing Plan - 2462 Words

Course Journal of ENTR 599.020 Yanliang Liu UMID# 00103354 Consulting is actually problem solving, is building a bridge between A side, problem and B side, solution. This bridge consists of 12 bricks: sell, engage, scope, plan, metrics, research, innovate, decide, manage, communicate, diversity and close. 1. Sell: convince customer to buy 1.1 Marketing: consist of 4 ingredients It is crucial for marketers to consider 4 P’s when coming up with a marketing plan: product, price, promotion and place. These 4 P’s, proposed by E. Jerome McCarthy in 1960, are ingredients of the marketing mix. A product could be a physical good or an intangible service. The product is the core of marketing. Marketers need to provide guidance on the wide and†¦show more content†¦Our client showed us a method of doing market segmentation quickly: asking everyone in the room to speak out the first thing they think of instantly when presenting word â€Å"transportation†, then you can easily get the market segmentation of transportation industry. ï‚Ÿ Apply BCG Matrix to choose product When deciding which product to develop or expand production, BCG Matrix is a useful tool that helps evaluation. In this case, the two factors in BCG Matrix should be growth potential and competition. 1.2 Sales There are few techniques during sales process: ï‚Ÿ Consultative Selling Most people’s first reaction to the sales person is rejection, no matter they need the product or not. A more natural way to approach customers is listening to them rather than forcing them to listen to you. Just ask what problem do they have and listen to customers’ issue and need. Spend time understanding their problems and give some solutions in the end. That would drive customers to your product naturally. ï‚Ÿ Aspirin is more popular than Vitamins Just like many students won’t start writing their homework until one day before the deadline, most people won’t seek for the solution until the problem is causing a headache. Compared to the benefit of a product, pain relieving feature is a sharp spur for buying. Therefore, it’s important to stress that your product is a pain reliever during the sales