Instructions
The 4 P’s of the Marketing Mix; Product, Price, Place (distribution) and Promotion By Jorgetarlea – Own work, CC BY-SA 4.0
For this assignment I would like you to review Video Case 1: Bombas: Creating Socks with a Purpose!. This case study is located on pages 22-24 of the Kerin, et al. text. (If page numbers are not exact the case study is located towards the end of Chapter 1).
This case discusses how Bombas’s founders created an exceptional line of products, stimulated interest using targeted promotional strategies, and retailed the line to consumers through social media. Read it carefully and digest the strategies that deal with the four Ps:
Product
Price
Promotion
Place (distribution).
These strategies are known as the Marketing Mix.
Next, review Appendix A: Building an Effective Marketing Plan on pages 58-72 of the Kerin et al. text. In doing so, you will see how marketing practitioners use the Marketing Mix to develop a course of actions aimed at reaching the company’s strategic goals.
Your Task: assemble these essential pieces of a prospective marketing plan for Bombas:
Mission: Focuses on the activities of Bombas for stakeholders.
Goals: Targets against which the company’s performance are measured.
Core Competency: Abilities to provide high quality products and services.
Customer Characteristics: Main demographics and lifestyle analysis.
Competitors: Companies and products that seek to displace Bombas in the marketplace.
Marketing Objectives: Planned targets against which marketing activities are measured.
Marketing Mix: The four elements included in the marketing plan: price, product, promotion, and place (distribution).
Assignment Instructions
The intent of the written assignment is to provide an opportunity to more fully analyze marketing theories and techniques, discussed in the textbook and other sources. Do not focus on the company’s history and do not retell the case, as it won’t give you any points. The main goal of your essay is to demonstrate that you have gained a solid understanding of the marketing mix and how it can be used to reach the strategic goals of the company.
Be sure to cite the textbook and other sources correctly, so that your academic integrity is not called into question. Your assignment is expected to be 1,750-2,000 words (5-6 pages, 12 point font, 1.5 line spacing) and should include an annotated bibliography. The essay should be well written and organized, in proper format (APA, MLA or Chicago), using proper sentence structure and spellchecked.
The How to create an Annotated Bibliography and Research and Library Tips pages of the Course Information documents will assist you in successfully completing this assignment. For further information on how you are graded please review the Writing Rubric
