Question

Imagine you have the sole marketing rights to a new herbal shampoo that stops hair loss and actually causes new hair growth. You plan to sell your product on an Internet website, which you will advertise on late night television. You are also hoping to obtain free publicity to place stories in men's fashion magazines. You are planning to sell online a 15-ounce bottle for $24.99 plus $7.99 shipping and handling. Using the information provided, identify each element of your marketing mix.

Answer 1

Answer with Explanation:

There are basically four elements of marketing mix and are given as under:

Product: Herbal shampoo is my product which possesses features of stopping hair losses and increasing hair growth.

Price: The price per bottle is $24.99 and the shipment cost is $7.99 per bottle. The size of the bottle is 15 ounces.

Place: Across the globe through Internet website

Promotion: Late night television advertisement and free publicity in men's fashion magazines will help in growing the business.