Week Six: Marketing Mix - Product/Service Strategy

Week Six: Marketing Mix – Product/Service Strategy

by Nicholas Tart

Let’s say you and four friends are going to have a barbecue. Each person will bring their own steak. The night before, you decide to make your marinade from scratch. It’ll have minced garlic, chopped onions, basil leaves, soy sauce, vegetable oil, Worcestershire sauce, red wine vinegar, salt, pepper and a drop of lemon juice.

You leave your steak in the fridge over night to become saturated with flavor.

The next day, you head over to the barbecue, steak in hand. When you place your perfectly marinated steak on the grill it’s gleaming from the sun and dripping on the red-hot coals. None of your friends bothered to marinate their steaks. In fact, two of them are still frozen.

This week you’ll take a fine-toothed comb through your product or service and compare it to the competitors in your market. By doing this you’ll know if there is anything you need to change with your current product or service.

Product or Service Description

Market Comparison

Example Company

Your Turn

P.S.

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