Marketing Management: Product, Promotion, and Pricing Analysis

This assignment comprises two parts, each a discussion board post. Part 1 analyzes the marketing mix concepts of product and promotion, as covered in Chapters 9 and 10, highlighting key learnings such as customer profiles, product levels, and promotional strategies. It emphasizes the importance of these concepts for a start-up business. Part 2 examines the impact of mobile payment methods, particularly the use of mobile wallets like Amazon Go, on marketing and business operations, as discussed in Chapter 11. The student discusses how mobile payments enhance customer experience and influence pricing strategies, as well as the application of the marketing principles to a start-up business.

Running head: MARKETING MANAGEMENT
MARKETING MANAGEMENT
Name of the Student
Name of the University
Author Note

1MARKETING MANAGEMENT
Response to Part 1: Learnings from Chapter 9 and 10
The two chapters comprehensively covered the concepts of marketing mix by presenting the
details regarding marketing process which involves the act of sales and customer
engagement. The marketing process was depicted as a flow chart, which connects the
potential customers to an organization’s offered services or product with the aspects of value
proposition. The chapters discussed the derivation of the ‘link’ from the structured marketing
mix of organizations. The process includes the strategies of product and customer
development. I was surprised with the understanding of various profiles of customers because
of the general perception about a customer, a person who buys. The profiles which were
reflected in the 9th chapter are, end users, purchasers, decision makers and influencers.
Chapter 9 stressed on one of the marketing mix, products (Baker 2016). Product can be
divided based on the level of concentrated service elements, pure goods, goods dominated
product, hybrid product, service dominated product and pure services. I learned the crucial
aspect of product levels which helps in facilitating the product design. Chapter 10 stressed on
the concept of promotion, which is crucial for establishing an impression on the potential
customers. The impression will determine the customers’ buying decision for the product
offerings. Promotional techniques can be established after the identification of target market.
The target market will frame the structure of building a brand. The promotional mix reflect
the strategies of selecting medium like advertising, public relations, sales promotion, direct
marketing personal selling and the internet presence (Blythe and Martin 2019). The concepts
which can be most beneficial for a start-up is the understanding of various levels of products,
core and total products as it will help in designing the product features (Andrews and Shimp
2017). The promotional mix will help me select the appropriate media for the proposed
products.
Response to Part 2: Payment method

2MARKETING MANAGEMENT
The video depicted benefits of incorporating technology in the business processes through the
implementation of ordering and checkout application. The application reflects contribution in
adding the feature of convenience in the business process. The ordering and checkout option
in the mobile application of a brand can help in building customer satisfaction and easier flow
of operational activities. The companies like Amazon implemented the application of mobile
wallet, named as Amazon Go, which helps in improving the overall experience of the
customers (Kannan 2017). In case of the start-up plan, the utilization of technologically
advanced application can build a positive customer experience and add values to the new
product or service offerings. The introduction of mobile check-in and check-out feature will
present an impression of a well-researched business, which is responding to the increasing
demand of customer satisfaction. Moreover, learnings from the 11th chapter highlights the key
factors influencing the pricing structure of organizations, which includes demand of the
product offerings, values conveyed to customers, competitive pricing and the product
placement. The feature of mobile payment will allow the business to excel in the factor of
increasing values for the customers, which in return enhances demand. It will also contribute
towards the strategy of price structuring as customers will develop the psychology of
experiencing premium service attached with product offerings. The automated method of
payment and ordering services eliminates the factors of inconvenience and helps in
maintaining an effective customer data record with the feedback system.

3MARKETING MANAGEMENT
References:
Andrews, J.C. and Shimp, T.A., 2017. Advertising, promotion, and other aspects of
integrated marketing communications. Nelson Education.
Baker, M.J., 2016. What is marketing? In The Marketing Book (pp. 25-42). Routledge.
Blythe, J. and Martin, J., 2019. Essentials of marketing. Pearson UK.
Kannan, P.K., 2017. Digital marketing: A framework, review and research agenda.
International Journal of Research in Marketing, 34(1), pp.22-45.