Question

Thad works for a small company as its marketing director. The company is creating a new product to introduce to the market for solar external paint. Thad researches competitors’ products and market trends in the ecopaint market. Then he creates a comparative pricing analysis and conducts focus groups to understand potential customers’ expectations and decide on the name and desired colors. After working with the product manager on adding a few additional color possibilities, Thad begins to create a strategy and message for the marketplace. Which area of the marketing mix should Thad focus on for this product?

Answer 1

The correct answer is; The place or distribution of the paint .

Further Explanation:

There are a total of four things that make up the marketing mix. They are known as the 4P's in business and they are very important for the businesses to follow. The four marketing mixes are;

1. Price
2. Product
3. Promotion
4. Place

Since Thad has already spoken to the customers and has gotten their feedback he will not need the promotion. He has the customers input on colors, names, and expectations. He has also decided on a price, so he doesn't need to focus on that point anymore. However, he has not determined the place or the distribution of his paint. He will need to focus on the place he will sell his paint.

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