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

Answer:

Place

Explanation:

The four Ps of the marketing mix are:

• price: Thad has already carried out a comparative price analysis
• place: ?????
• promotion: Thad already started developing a marketing strategy.
• product: Thad has already research his competitors' products and market trends. He also worked together with the product manager to add more color options.