Consider yourself a relatively recent graduate in Management, with varied education and experience in Small Business Management and New Customer Marketing. You have joined the headquarters of Malibu Boats in Loudon, Tennessee and have been named on the New Customer Acquisition Team. See links below on your company and products. Do not try to call the company since they will not know anything about your project or your management problem. The Company Needs The company needs an updated strategy for the 4s of Marketing (textbook on pages 138-140) for marketing its best selling Response TXi MO boat to the new 35-45 Family Market. This boat is excellent for first time boat buyers, which may be families with teenage kids that want to waterski. https://www.nmma.org/statistics/article/21974 The 4 P project will help the company develop new Product strategies (Chapter 15), new Pricing strategies (Chapter 16), new Promotional strategies (Chapter 17), and finally, access the proper Places to sell their boats in the 35-45 Family Market. (Chapter 15) www.malibuboats.com https://www.malibuboats.com/boat/response-txi-mo https://www.youtube.com/watch?v=fLv2Ud7uvF8 You see a major opportunity at your firm to be an effective trouble shooter and idea person, and you want to make your mark by attacking some key issues/problems and making some effective recommendations. This will put you on a fast track for a promotion, if you can show management that you are an effective consumer behavior researcher, marketing problem-solver and program developer on this new team. As you begin, create a Word document with your assigned questions listed and begin to answer the questions. Create your Word document by fully answering each question, following your investigation of the subject I pose to you. This post should be about 4 paragraphs and 15-16 sentences as a minimum. Find other supporting websites or articles to enhance your analysis of the marketing problem. The Management Problem Using the article titled Marketings Four Ps: First Steps for Entrepreneurs, fully explain all the questions of the case, including What are the types of Product Issues would you consider in handling the most important of the 4 Ps.namely Product. (4-5 sentences) What are the key things you must balance, tradeoff wise, when considering using either cost based pricing or competitive based pricing. Should Malibu use one or the other, or some of both? (4-5 sentences) Should Malibu use direct sales people calling on individual consumers (boat buyers) or sell through local dealers and their local sales people? (4-5 sentences) Can you determine what types of advertising and promotion that Malibu boats use now, or determine what types of promotions could reach first time boat buyers ages 35-45, which may be families with teenage kids that want to waterski. Using the link titled What are the components of a Marketing Plan?, fully explain all the questions of the case, including https://entrepreneurship.extension.org/what-are-the-components-of-a-marketing-plan/ Notice the Marketing mix section of the Marketing Plan list as number #. Read through the Marketing Plan format. What are the two sections before the Marketing Mix section? Why do these sections need to be completed before you decide on your Marketing Strategies dealing with Product, Price, Promotion and Place. (4-5 sentences) What are the three section after the Marketing Mix section. Why do these sections need to be completed after you decide on your Marketing Strategies dealing with Product, Price, Promotion and Place. (4-5 sentences) Use the 2 resources above to address these issues. You can add other resources, as long as the resources supplied are used.
