Iphone x marketing mix

o Marketing Mix. Based on the overall positioning strategy and positioning statement describe the elements and implementation of the marketing mix, explain how the marketing mix reinforces the positioning? o State the overall positioning and then explain how the marketing mix will reinforce the overall positioning in terms of: o Product strategy: describe how the product and its features support the overall positioning? o Pricing strategy: describe the price differentials to those of the key competitors. Explain the unique value proposition in terms of value versus price. Provide examples and use real prices to substantiate your discussion. o Distribution strategy: explain what distribution strategy you would use and why? What tradition channel as well as online distribution would you use and why? Give real life examples. o Promotion strategy: what would be the purpose of your overall promotional campaign and why? How does it align with the overall positioning strategy? What would be the central message? Any slogans or tag lines? What would be the promotional schedule and other related promotional tactics to support your overall promotional campaign? MKTG 303 Principles of Marketing Marketing Mix Constant Cheng George Mason University DECISIONS ON POSITIONING: Based on the perception map: • Dunkin’ Donuts is not at its ideal point. • Dunkin’ Donuts can move into the good gap by improving on primary attributes, ones that are closest to the preference vector. • These include cleanliness, pleasant smell, good service and good brand image. • This makes sense as things Dunkin’ needs to improve upon as Dunkin’ has been more of a place people quickly pick up products (as indicated by its cluster name ‘Grab n’ Go’) than a place to meet and stay. • Finally, Dunkin’ can improve its auxiliary attributes including good value, convenient location, and wide product variety. • Having a high coordinate on the vertical axis and being a store for people to quickly stop at, these are attributes in which Dunkin’ are scores highly. REPOSITIONING http://www.fastcocreate.com/3034572/coffee-week/dunkin-donuts-and-starbucks-a-tale-oftwo-coffee-marketing-giants PRODUCT How does the product compares to those of the competitors’? Three ways to position an offering (for product comparison): 1.Unique 2.Difference 3.Similarities (“Only product/service with XXX”) (“More than twice the [feature] vs. [competitor]”) (“Same functionality as [competitor]; lower price”) Look at product attributes (that are unique, different, similar) that can be translated into “superior” benefits to the customers. This is to explain why your customers prefer your product over those of the competitors’!!! Check the perceptual map for clues! Regular coffee – SB; Iced coffee – DD; Tea: SB; Hot Chocolate: DD; Breakfast sandwiches; DB; Doughnuts; DD; http://greatideas.people.com/2015/01/30/starbucks-vs-dunkin-donutsseattle-new-england-superbowl/ VALUE PROPOSITION (product/price) How does the product/price compares to those of the competitors’? Five ways to articulate the product/price value proposition (for comparing value to price): 1.More for more (Mont Blanc, most luxury goods) 2.More for the same (Toyota Lexus over Mercedes) 3.More for less (Wal-mart, well known brand for less) 4.The same for less (Panasonic TVs) 5.Less for much less (Airline not serving food) Elements to cover for this section: • Show the price of your nearest competitor(s)’ • Show your price • Show the relative product/price value proposition • Double check to make sure that your product price value proposition is consistent with overall positioning PLACE Dunkin’ Donuts now has nearly 11,300 restaurants in 36 countries , trails behind its rival Starbucks which has 21,536 retail stores in 65 countries (11,000 of them in the U.S.) The Dunkin’ App connects guests to the brand with an exciting array of tools and information to make any Dunkin’ run fast and easy. Highlights include: •Purchase, register and reload a Dunkin’ Donuts Card •Pay right from the app using a Dunkin’ Donuts Card •Send an mGift to friends and family •Locate the nearest Dunkin’ Donuts http://news.dunkindonuts.com/news/dunkin-donuts-mobile-app-adds-support-forapples-passbook PROMOTION 1.Purpose of the promotional campaign – highlight repositioning and accentuate new product attributes and customers’ benefits 2.Central Message – “Better value, more convenient locations” 3.Slogan – America runs on Dunkins’ -> American Thrives on Dunkins’??? 4.Specific promotional tactics – “DD drinkers were much more likely to talk about Starbucks on social media than the other way around…Dunkin’ puts its fans at the center of its social media strategy—they’re an active and passionate tribe that’s fueled by interactions with the brand” http://www.fastcocreate.com/3034572/coffee-week/dunkin-donuts-and-starbucks-a-tale-oftwo-coffee-marketing-giants ...