Mt450 unit 7 marketing management part 2 evaluating the marketing mix

Assignment: Evaluating the Marketing Mix Scenario: Problem-Solving as a Marketing Manager Congratulations. You have just been named marketing manager of a major new startup company, Home Essentials Inc. Your job will be to perform the daily tasks of a marketing manager. The first day on the job you receive this problem. They know they have a problem but they are not sure what it is. They know it must be fixed very soon or they will be out of business. Everyone is looking to you to fix it. This startup company management has noticed that there has not been the demand they anticipated for their practical but necessary product for new parents. They got rave reviews in the baby and home magazines as the “must have” product of the year. But yet no one seems to know their product or what it does. The product is a baby gate/play area that is free form when unlocked, but once configured in the shape parents want, it can be locked into that shape and will not move or collapse anywhere you put it. The current price for the product is $100. Consumer Baby Products Safety Commission gave it 5 stars for safety. The startup has hardly any money and all managers are working for a potential slice of the company if successful. They have a website that is good but hardly exciting and no advertising to speak of except word of mouth. Follow these Critical Thinking steps: 1. Determine the problem 2. Analyze the problem 3. Design possible solutions, including media to be used 4. Evaluate the solutions and recommend the most viable one while addressing the 4 P’s. Write a 3–4 page memo to the CEO of Home Essentials, Inc. detailing the following: · What you think the problem has been and what you think contributes to the problem. · Recommend a solution addressing the 4 P’s in your response. Your solution can have multiple steps or considerations.

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