Answer to Question #181764 in Marketing for Dan

Question

You have been hired by KOKO MESSIAH GROUP to lead its local and international expansion efforts. 

Considering that KOKO MESSIAH GROUP already has products which its markets on a small scale locally, it 

has become imperative that it makes additions to its current product variants, as well as promote these new and 

existing products in markets other than its existing markets. Propose four relevant strategies and the key 

marketing mix decisions you have to make in achieving its expansion objective

Answer 1

The marketing mix that I would propose is;

price- is how much does the product cost. Sellers want to charge as much as possible, and buyers want to pay as little as possible. pricing a product needs to strategic; not too low and not too high. consider the following;

• Is there high consumer demand? Demand drives price
• What are your competitors charging, and do you want to charge more or less?
• What does it cost to produce and distribute your product? At a minimum, you don't want to charge less than what you're spending.

product- this is what the company is selling, in this case, a product. KOKO will have to evaluate

• the experience that the customers have with its product
• what problem does it solve
• what attracts the customers to the product

promotion-  Promotion covers all the communication tactics that you use to tell people about your products. Factors to consider are;

• Who is your target audience
• What medium is your message in
• What channel are you using to get your message out
• When will all this happen

promotional activities also encompass more than just marketing. Promotion might also involve the sales process, public relations, and advertising.

place- From the marketer's perspective, it's where you'll be distributing your product, Place is where your buyers can find your product;

• whether that's a brick-and-mortar location or an online shop.
• Will you be selling directly to consumers or wholesalers?
• How will customers find what you are trying to sell?