Discussion Question Week 1 Damn Heels and the 4P's - Assignment Example

Damn Heels and the 4P’s al Affiliation Damn Heels and the 4P’s From the case study, analyze Coleman’s business to formulate the 4Ps of her marketing strategy. Specify the salient information that you used to identify the 4P’s of Coleman’s business. Next, debate the fundamental virtues inherent in Coleman’s marketing decisions surrounding the 4P’s of her business. Justify your responses. The 4P’s in Coleman’s business are as follows:Product: Foldable flats (bendable and threaded) in three sizes (small, medium and large) and manufactured initially in black.

These shoes would be packaged in a pouch and would be manufactured from “high quality polyurethane material with soft lining and two millimeter thick sole” (Ramrattan, 2012, p. 2).Price: Competitively priced at $20 including taxes.Promotions: None initially; would rely solely on social media.Place: The product would be marketed through retailers (Le Papillon, salons, spas, bars, clubs, and lounges). Eventually, the product would be offered for sale online.Analysis of 4P’s The information provided through case facts have assisted in identifying crucial information needed in identifying the 4P’s.

The description of the product included the raw materials used, the sizes and color, as well as the packaging. Pricing strategies included the stipulated target prices ($20) and how it was priced in comparison with those pegged by the competitors (average of $25). Therefore, by pricing the product lower, it has potentials of attracting new and prospective buyers. Likewise, since the target buyers, from the conducted market survey were composed of post-secondary students within the age range of 20 to 22 years of age, then, the price set was just within their affordable budgets.

The product was noted to be marketed through retailers (previously known business owners) and also eventually through the online medium. Finally, it was disclosed that promotions would be minimal given that no funds were immediately available. Thus, the product would rely on the skills of the retailers. One strongly believes that the weakness in the strategy of Coleman falls in the lack of promotions or advertising campaign. Since this is a new product to be launched, it is crucial to enhance product awareness which could only be made through advertising and promotions.

Likewise, since the target clients are potentially students, Coleman could actually approach schools or academic institutions as retailers; rather than relying on clubs or lounges. The online medium could also be pursued since most of the young adults use this medium for their purchase decisions.2. From the scenario, specify the main ways in which the 4P’s of marketing can help the marketing intern offer suggestions to her manager for the new product launch. Provide specific examples that illustrate the relationship between of the 4Ps and the new product launch.

The 4P’s of marketing can help the marketing intern (Samantha) to offer suggestions to her manager (Carl) through accurately identifying the strategies to be used for each P: product, price, promotions, and place (Scenario Script: The 4Ps of Marketing, 2013). For instance, the product is a tablet computer. Samantha could have described the product in detail to include features, functions, and other capabilities that offer competitive advantage over their competitors. The aspects noted regarding the product include: producing a high quality product using cloud technology, with stress-free computing, and applications that include office suite and access to social media tools; with two battery options (Scenario Script: The 4Ps of Marketing, 2013, p. 9).Pricing strategies were discussed in greater depth through pinpointing penetration pricing in the domestic market due to “price sensitive markets and heavy competition” (Scenario Script: The 4Ps of Marketing, 2013, p. 7) and skimming strategy in the international markets.

Promotional efforts would include online media, TV and social media; while place strategies defined using current distributors with bundling strategies. The 4P’s assisted Samantha in clearly recommending marketing strategies that would be deemed effective in launching the tablet computer in the most efficient and effective manner to achieve their marketing goals.ReferencesRamrattan, N. (2012). Damn Heels (A). Ontario, Canada: Richard Ivey School of Business Foundation.(2013). Scenario Script: The 4Ps of Marketing.