The way in which a company markets itself impacts every other aspect of the organization, especially the supply chain. Marketing strategies usually fall within four distinct categories â€“ product, price, place, and promotion. Product involves decisions that encompass the bundle of product characteristics that satisfy customer needs, related to brand name and functionality. Price refers to the pricing strategy developed for the product. Place confronts where and when the product is needed, and promotion involves advertising and sales techniques aimed to increase product visibility and desirability.
In this discussion, we will take product examples from our consumer experiences and assess the implications on the supply chain.
For this discussion, compose your response to the following questions and post as one initial response to the discussion forum, â€œMarketing & Supply Chain Implications.â€
- Find an example of a product where you felt there were too many product choices. Explain the implications for the company and their supply chain.
- Identify a product market that is currently experiencing changes in customer preferences. How are the companies in that industry responding to the changing preferences? What are the supply chain implications?