Marketing at Michigan Products Inc. Term Paper by Master Researcher
Marketing at Michigan Products Inc.
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Description:
This paper identifies the marketing practices of brick and mortar organizations and focuses on MPI, an educational product supplier. The paper provides an overview of the four elements of the marketing mix and discusses how these elements are interrelated. The paper then looks at the Michigan Products, Inc. company, otherwise known as MPI, and discusses how MPI is fully dependent on its brand name and brick and mortar organization to support is retail sales. The paper outlines MPI's strategies and concludes that the model that MPI presents is a shaky one; its role as the ultimate provider of educational products may have worked in the real world, but it will take some time and effort to develop in the virtual world.
From the Paper:
"The four marketing-mix elements are interrelated; decisions in one area often affect actions in another. To illustrate, design of a marketing mix is certainly affected by whether a firm chooses to compete on the basis of price or on one or more other elements. When a firm relies on price as its primary competitive tool, the other elements must be designed to support aggressive pricing. For example, the promotional campaign likely will be built around a theme of "low, low prices." In non-price competition, however, product, distribution, and/or promotion strategies come to the forefront. For instance, the product must have features worthy of a higher price, and promotion must create a high-quality image of the product. Each marketing mix element contains countless variables. For instance, an organization may market one product or many, and they may be related or unrelated to each other. The product(s) may be distributed through wholesalers, to retailers without the benefit of wholesalers or even directly to final customers."Cite this Term Paper:
APA Format
Marketing at Michigan Products Inc. (2003, October 09)
Retrieved June 03, 2023, from https://www.academon.com/term-paper/marketing-at-michigan-products-inc-36509/
MLA Format
"Marketing at Michigan Products Inc." 09 October 2003.
Web. 03 June. 2023. <https://www.academon.com/term-paper/marketing-at-michigan-products-inc-36509/>