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You have already planned many of the elements of your product/service during the strategic planning stage. In the product section of your marketing plan, all aspects of what you are offering are detailed, with respect to your target market. However, this section is more than just a product description; it describes the "essence" of your product as well. The quality, style, and features of your product are decided upon in this section, as well as packaging considerations.


Consider the gourmet ice cream example from above. If the target market in this industry is chosen to be the Connoisseurs, who hold quality and taste as their main values, then the product must have attributes that appeal to these values. A premium ice cream would need to contain high-quality ingredients, which is an added cost. If the target group did not value quality, but instead preferred ice cream with funky flavours, like bubble gum, you wouldn’t spend extra money for all-natural ingredients.

 

 

The marketing mix of the "Ps" are almost always related to each other.
In this case, the higher cost of ingredients would probably translate into a higher selling price, to maintain the margin. The inability to use preservatives might change the way you store and ship the ice cream, as it would have a lower shelf life. Naturally, the way you would promote a gourmet ice cream would differ from that of a fun ice cream for kids. From this example we can see how changing the product attributes drives changes in the rest of the marketing mix.

In the marketing mix, you will also consider your entire product line, and how they compliment each other, and branding/design elements. If you have five flavours of natural ice cream in your gourmet product line, they will probably be packaged similarly, in the same sized containers, with similar-looking labels. However, if you want to start selling a Crazy Cotton Candy flavour, you would want to consider introducing it under a different line of new flavours, as it does not fit with your existing products and could isolate your target market.

 

 
     
 
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