Question

On a trip home during the summer break, you pay your Uncle Dave a visit at his record store. When you walk in, you notice there is not one single customer. “I have run this store since the 1980s,” Uncle Dave says with a sigh. “We were the first store in this whole town to sell compact discs! But now, it feels like we’re at least a decade or two behind the times. No one buys records anymore—or even CDs! I have thought about just closing down the store and retiring a little early. But I can’t stand the thought of doing that just yet. I wish there was some sort of new direction I could take things in.”

You explain to Uncle Dave that the best idea would be retooling his marketing plan. “Now, you know I don’t know anything about doing that,” he replies. “My business had always sold itself until just a few years ago. I had no need for marketing.” Suddenly, a light bulb goes off in your head. Since you’re studying business in school, why not put the skills you have learned to work by helping out Uncle Dave?

Before leaving, you tell Uncle Dave you will be working on a marketing plan for him. Write a professional 1-page (300-500 word) plan that addresses all four elements of the marketing mix:

• Product: What new products and/or services might Uncle Dave start to offer at his store, since—in his own words—no one buys records or CDs anymore?
• Price: Would lowering his prices help Uncle Dave? Or, for that matter, would raising them give him a slight boost?
• Place: Should he start using other channels for distribution, or positioning his products differently?
• Promotion: Are there any new IMS techniques that Uncle Dave might not be using, but should use? What target audiences may be unaware of his store and its offerings?

Answer 1

Answer-

Innovation is persistently changing, so moving with the patterns is essential to get by in the market . Presently a days, the greater part of the individuals done structure music libraries with minimized plate however rather they stream on web for it.

Spilling music from web is advantageous there is no compelling reason to convey Compact circle for that . Uncle Dave has not rolled out any improvement in his advertising procedure or has not moved with the pattern as result he discovered incapable to make due in the market.

The greater part of the dealers has quit selling Compact plate in there stores as advanced music proceeds to takeover.

-​​​​​​Product: the most ideal approach to hold in the market is to present new product/administrations that could fulfill the current needs and patterns .

Uncle Dave can present computerized music selling or advanced record shop through computerized music selling conveyance stage and get eminences in return with the goal that the individuals can stream , and purchase music Also.provide products like USB , memory cards , pen drives and advanced contraptions , sound chronicle hardware just as advanced sound programming additionally earphones and different frill .

.Also he could offer types of assistance like fixes of melodic devices and so on Providing on the web and advantageous installment techniques and conveyance framework could add focal points to selling .

-​​​​​-price : Lowering price is a strategy to pull in the clients accordingly it can help uncle Dave to a reach out in his business .During starting stage , he could offer better quality types of assistance at brought down prices with the goal that he could hold the clients and draw in additional to the store.

Fulfilled clients are consistently increment the generosity. Later Uncle Dave can expand the price contingent on the deals . To build the benefit and income he could expand the price somewhat more.

-place: He could sell and utilize the computerized appropriation organize as it is a savvy way . Through online stores he could sell his products and music. Through advanced dissemination ,transportation and different sorts of expenses can be stayed away from , and can be made accessible to clients at a tick., generally helpful.

Situating of product likewise assumes a significant job in selling .He should attempt to keep 100% eminences .Uncle Dave can even sell both computerized and his old physical (CDs) through advanced appropriation arrange . -

-​​​​​​-product . product is the key to success, client educated about the administrations available.Use a wide range of on the web and computerized hotspots for promotion. Give a stage to free , quick and fun just as free worldwide introduction. educate clients about their contributions through short and fresh advertisements . Concentrate on the objective gathering and locate the most ideal approach to connect those intended interest group .

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