Introduction to Business [ Text Book: FOUNDATION OF BUSINESS 5e by PRIDE, HUGHES, KAPOOR ] Assignment #3 4 Ps of the marketing mix [(i) Product, (ii) Price, (iii) Place, & (iv) Promotions] Part 1: Please refer to the 4 Ps of the marketing mix [(i) Product, (ii) Price, (iii) Place, & (iv) Promotions]. Pick any product [tangible or intangible] that you’re very familiar with, and discuss what you think the company’s strategy is regarding each of the 4 parts of the marketing mix. You can do a little research, but I would rather you comment on what you see in your everyday life from this company and the product you’ve chosen. Please give as much detail and examples as possible. Be sure to write at least one full paragraph for each of the 4Ps. Part 2: Please refer to your analysis in Part 1. Do you think the company’s strategies for the 4 Ps are effective? Please explain in detail. What is the company doing that you think is effective? Explain in detail. Is there anything the company is doing that you think may not be that effective? Are there any other ideas you would like to suggest to your company regarding any of the 4 Ps? Please provide as much detail as possible. Again, be sure to write at least one full paragraph for each of the 4Ps. Note: It probably makes sense to address each of the 4Ps separately. For example, you could complete Part 1 for the product strategy of your company (describing what you see as the company’s product strategy), and then complete Part 2 for the product strategy (analyzing the company’s product strategy and discussing what you think works and doesn’t work) before moving on and doing both Part 1 & 2 for the company’s pricing strategy. Grading: Your business term paper will be graded based on how well you respond in your essay to the directions above. You should be able to demonstrate that you understand the topics and that you are able to apply these topics to a real-life situation. The paper should be in Times New Roman – 12 size font Single Spacing. There is no page number requirement for the paper, but you are expected to provide as much detail and explanation as possible and, if you make a statement, be sure to include sufficient evidence to support your statement. In my mind, anywhere from 3 to 4 pages seem like appropriate length to fully answer the questions. If you write more, that is fine as well. Also, be sure to review and revise your paper in order to ensure that it is clear and well written, zero plagiarism and free as possible from grammatical errors. Provide your references and citations in MLA format Please print out your paper and hand it in to me in the class.
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