Establish and adjust the marketing mix Assessment Task 2: Project – Determine the marketing mix Introduction: Telstra was established in 1901 as one Commonwealth Government’s department to manage all domestic telephone, and now have become the largest telecommunications company in Australia. Telstra now has changed its market plans and focuses on customer services by providing phone and internet. 1. For the new marketing opportunity and in relation to the product or service, answer the following questions? Product: ▪ Who is the product or service aimed at? The Service is aimed at Individual members of the public. The new service needs to face the most populated environment, for most people aware its existence. Therefore, the service is …show more content…
▪ What will be the most important features or benefits of the product or service in relation to the target market? The most important features of the product or service: • Saving Clients time – time is very precious to everyone • More tailor-made exercise method. Help them to find out the best way to exercise. More efficient and productive. The most important benefits of the product or service: • Time-saving. • Creates more job opportunities. Price: ▪ What is the business’ approach to pricing? • cost factors: Based on the labor cost, analytical software cost and data collection cost, we got the basic total costs. Add the potential profit on top, we have calculated our price out. ▪ How will pricing of the product or service affect take up of the product or service? Price of product Telstra services Number of product Telstra services people want to buy $30 1 $29 2 $27 3 $25 5 ▪ Considering the factors above, what price should the product or service be offered at? Should any additional price variables be considered such as discounts? The product price to be offered should be …show more content…
In relation to your answers in Part A, identify and discuss the possibilities for varying the marketing mix in relation to the new marketing opportunity. For example, looking at varying the price of the product or service, how would this affect promotion? Provide at least four different examples of how varying a marketing mix variable affects another part of the marketing mix variable. Clients GP Reports Varying What are the impacts of varying Product More detail and accurate information More precise suggestion we can pass on to clients Price $45 We might lose certain amount of customers Promotion A great plus point to add onto our ad The ad would be more effective Distribution For people who are more concern about our service quality, they will be convinced More effective distribution process. 3. The final part of the assessment involves determining the final marketing mix in relation to the new marketing opportunity. As part of finalising your marketing mix, answer the following questions: ▪ What environmental factors could have an impact on the selected marketing mix e.g. economic conditions, the political or legal environment,