Product, Price, Place and Promotion - the 4 Ps.
For any organisation large or small, the 4 Ps are of paramount importance. Let's consider the first one - the product.
1. Product - Yours has been chosen - it's a mug (a special one), designed by your company.
3. Carry out market research by themselves or hire a specialist firm, e.g. MORI.
Market research if done correctly will give a better idea of what people want, and how much people will pay for it.
What you have to do!
You will carry out field research by having a written survey to take home, with your banner at the top of the word processed document.
In your group produce a set of questions to find out what your customers want/need, use of mugs, price to pay.
Decide in your groups who will design a word processed survey (with your company logo at the top, of course) to be printed and distributed to potential customers.
At the same time, a survey monkey survey should be created to allow for online responses to the survey.
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