{"id":4962,"date":"2020-06-08T01:54:22","date_gmt":"2020-06-08T01:54:22","guid":{"rendered":"https:\/\/course.oeru.org\/pmkt101\/?page_id=4962"},"modified":"2020-06-08T01:54:22","modified_gmt":"2020-06-08T01:54:22","slug":"start-marketing-mix-challenge","status":"publish","type":"page","link":"https:\/\/course.oeru.org\/pmkt101\/learning-pathways\/optimizing-the-marketing-mix-the-4ps\/start-marketing-mix-challenge\/","title":{"rendered":"Start &#8211; Marketing mix challenge"},"content":{"rendered":"<div id=\"content\" class=\"mw-body container\" role=\"main\">\n<div class=\"row\">\n<div class=\"col-md-12\">\n<div class=\"panel\">\n<div class=\"panel-body\">\n<div id=\"bodyContent\">\n<div id=\"mw-content-text\" lang=\"en\" dir=\"ltr\" class=\"mw-content-ltr\"><div class=\"panel iDevice\">\n\t<div class=\"panel-heading idevice-heading\">\n\t\t<div>\n\t\t\t<img decoding=\"async\" class=\"pedagogicalicon\" alt=\"summary\" src=\"https:\/\/course.oeru.org\/pmkt101\/wp-content\/themes\/oeru_course\/idevices\/Icon_summary.png\">\n\t\t<\/div>\n\t\t<div>\n\t\t\t<h2>Challenge summary<\/h2>\n\t\t<\/div>\n\t<\/div>\n\t<div class=\"panel-body\">\n\t\t<div class=\"col-md-12\">\n\t\t\t<\/p>\n<table>\n<tbody>\n<tr>\n<td width=\"100px\"><b>Summary<\/b>:<\/td>\n<td>Develop the optimal marketing mix for a new product.<\/td>\n<\/tr>\n<tr>\n<td>\n<div class=\"floatleft\"><a href=\"https:\/\/wikieducator.org\/File:Time7.svg\" class=\"image\"><img loading=\"lazy\" decoding=\"async\" alt=\"Time7.svg\" src=\"\/\/wikieducator.org\/images\/thumb\/8\/88\/Time7.svg\/30px-Time7.svg.png\" width=\"30\" height=\"30\" class=\"img-responsive\"><\/a><\/div>\n<\/td>\n<td>2-3 hours<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>During this challenge you will write a post in your Learning Journal blog, and respond substantively to at least two of your peers.\n<\/p>\n<p>\n<\/p>\n<p>\n\t\t<\/div>\n\t<\/div>\n<\/div><\/p>\n<p>\n<\/p>\n<h2><span class=\"mw-headline\" id=\"Start_here\">Start here<\/span><\/h2>\n<div class=\"panel iDevice\">\n\t<div class=\"panel-heading idevice-heading\">\n\t\t<div>\n\t\t\t<img decoding=\"async\" class=\"pedagogicalicon\" alt=\"web resources\" src=\"https:\/\/course.oeru.org\/pmkt101\/wp-content\/themes\/oeru_course\/idevices\/Icon_inter.png\">\n\t\t<\/div>\n\t\t<div>\n\t\t\t<h2>Stimulus resources<\/h2>\n\t\t<\/div>\n\t<\/div>\n\t<div class=\"panel-body\">\n\t\t<div class=\"col-md-12\">\n\t\t\t<\/p>\n<ol>\n<li> Review the previously assigned readings\n<\/li>\n<li>Use the following two resources to find out about a novel invention &#8211; the Human Hamster Wheel Standing Desk. You will use this invention as the subject for your Marketing Mix learning challenge (and also for the <a href=\"\/pmkt101\/learning-pathways\/market-segmentation-target-markets-and-product-positioning\/start-segmenting-markets-challenge\" title=\"Principles of marketing\/PMKT101\/Segmenting markets target audiences\/Segmenting markets skills challenge\">Market segmentation, target markets and product positioning learning challenge<\/a> if you choose to do it):\n<ul>\n<li> Video &#8211; <a rel=\"nofollow\" class=\"external text\" href=\"https:\/\/www.youtube.com\/watch?v=ZZTp8NeGbmk\">Human Hamster Wheel for the Ultimate Standing Desk<\/a>\n<\/li>\n<li> Website &#8211; <a rel=\"nofollow\" class=\"external text\" href=\"https:\/\/www.instructables.com\/id\/Hamster-Wheel-Standing-Desk\">Hamster Wheel Standing Desk instructions<\/a>\n<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<p>\n<\/p>\n<p>\n\t\t<\/div>\n\t<\/div>\n<\/div>\n<p>\n<\/p>\n<div class=\"panel iDevice\">\n\t<div class=\"panel-heading idevice-heading\">\n\t\t<div>\n\t\t\t<img decoding=\"async\" class=\"pedagogicalicon\" alt=\"objectives\" src=\"https:\/\/course.oeru.org\/pmkt101\/wp-content\/themes\/oeru_course\/idevices\/Icon_objectives.png\">\n\t\t<\/div>\n\t\t<div>\n\t\t\t<h2>Purpose<\/h2>\n\t\t<\/div>\n\t<\/div>\n\t<div class=\"panel-body\">\n\t\t<div class=\"col-md-12\">\n\t\t\t<\/p>\n<p>The purpose of this learning challenge is to:\n<\/p>\n<ul>\n<li> Consider how you would develop the marketing mix for a product.\n<\/li>\n<li> Document and share your learning experience by posting a blog entry.\n<\/li>\n<li> Learn from your peers regarding how they would develop the marketing mix for this product.\n<\/li>\n<\/ul>\n<p><b>Value of this exercise<\/b>\n<\/p>\n<p>Now that you&#8217;ve read about the importance of marketing products and services, and the 4 Ps of Marketing: Product, Price, Promotion and Place &#8211; you are in a position to identify the optimal marketing mix for your marketing strategy. You will:\n<\/p>\n<ul>\n<li> Apply marketing theory to a real world product.\n<\/li>\n<li> Identify the market(s) and marketing emphasis required to market a product.\n<\/li>\n<li> Put yourself in the shoes of a marketing manager, and consider the trade-offs for marketing the product (e.g. if it is manufactured in a different country, there may be shipping delays; if the product is premium-priced, it may not be affordable for your target market; understanding how culture may play a part in market acceptance, and so on).\n<\/li>\n<li> Learn from your peers about their perspective &#8211; how and why they view the marketing mix for this product.\n<\/li>\n<\/ul>\n<p>\n<\/p>\n<p>\n\t\t<\/div>\n\t<\/div>\n<\/div>\n<p><!-- \nNewPP limit report\nCPU time usage: 0.046 seconds\nReal time usage: 0.055 seconds\nPreprocessor visited node count: 366\/1000000\nPreprocessor generated node count: 1145\/1000000\nPost\u2010expand include size: 10077\/2097152 bytes\nTemplate argument size: 4835\/2097152 bytes\nHighest expansion depth: 8\/40\nExpensive parser function count: 0\/100\n--><\/p>\n<p><!-- Saved in parser cache with key we_en-mw_:pcache:idhash:176833-0!*!0!*!*!2!* and timestamp 20200608015419 and revision id 1070047\n -->\n<\/div>\n<div class=\"visualClear\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"row\">\n<div class=\"col-md-12\">\n<ul class=\"pager\">\n<li class=\"previous\">\n            <a href=\"\/pmkt101\/learning-pathways\/optimizing-the-marketing-mix-the-4ps\/audio-signpost-promotion\">\u2190 Previous<\/a>\n          <\/li>\n<li class=\"next\">\n            <a href=\"\/pmkt101\/learning-pathways\/optimizing-the-marketing-mix-the-4ps\/tasks-marketing-mix-challenge\">Next \u2192<\/a>\n          <\/li>\n<\/ul><\/div>\n<\/p><\/div>\n<\/div>\n<footer>\n<br \/>\n<\/footer>\n","protected":false},"excerpt":{"rendered":"<p>Start here \u2190 Previous Next \u2192<\/p>\n","protected":false},"author":790,"featured_media":0,"parent":4942,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-4962","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/course.oeru.org\/pmkt101\/wp-json\/wp\/v2\/pages\/4962","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/course.oeru.org\/pmkt101\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/course.oeru.org\/pmkt101\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/course.oeru.org\/pmkt101\/wp-json\/wp\/v2\/users\/790"}],"replies":[{"embeddable":true,"href":"https:\/\/course.oeru.org\/pmkt101\/wp-json\/wp\/v2\/comments?post=4962"}],"version-history":[{"count":1,"href":"https:\/\/course.oeru.org\/pmkt101\/wp-json\/wp\/v2\/pages\/4962\/revisions"}],"predecessor-version":[{"id":4963,"href":"https:\/\/course.oeru.org\/pmkt101\/wp-json\/wp\/v2\/pages\/4962\/revisions\/4963"}],"up":[{"embeddable":true,"href":"https:\/\/course.oeru.org\/pmkt101\/wp-json\/wp\/v2\/pages\/4942"}],"wp:attachment":[{"href":"https:\/\/course.oeru.org\/pmkt101\/wp-json\/wp\/v2\/media?parent=4962"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}