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OC BMGMT 180 - Lecture Notes 1.5

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A product that you really enjoy (especially since COVID has hit) is Instacart. Product: Instacart provides a personal grocery shopping experience right through your phone. The Instacart app allows you to pick and choose your groceries, make and edit your grocery list as well as communicate with your shopper all from the comfort of your home. This is especially convenient if you work late or have a super busy schedule that doesn’t allow you to make it to the grocery store. Price:Instacart has a few options as far as pricing goes. You can choose a plan, $99/annually or $9.99/monthly. Both include no delivery fee on orders over $35. If you choose not to become an Instacart member, you can get your groceries delivered for $7.99/per order plus a tip to your shopper (minimum of $2.00).Promotion:Instacart partners with various brands so that if you hit a minimum on purchasing their products (let’s say you have to hit $25 in Kellogg’s brand products) you get free delivery, instead of having to pay the $7.99 delivery fee. Aside from digital ads, Instacart really relies on their customers to help promote the business. After you finish your shopping (or anytime from the app) you can send $10 off coupon codes to friends and family for their first Instacart purchase, in turn Instacart gives you $10 off your order up. You can do this up to 5 times. Place:Instacart partners with various different stores where you can find their shoppers like Five Below, Bed Bath & Beyond, ALDI, Kroger, Costco, CVS Pharmacy, Petco, Target, Big Lots, Staples and more. Theyeven have local and small business options based on your location. People:Instacart shoppers go to the grocery store (or any other store partnered with Instacart) just like they are going shopping for themselves, except they get paid to do it. They can also work whenever theywant, allowing for a flexible schedule. The Instacart app allows consumers to rate their shoppers and leave tips based on how well they did their shopping, so if you aren’t satisfied with your service, you can let your shopper know what they did wrong or right, if you had a good experience.The service you chose to review is TurboTax’s tax-filing services. The 1st P, product, has to do with the actual good or service that the company provides to customers. This also includes the different variety of product or service options that the company provides. TurboTax’s tax filing services include federal and state tax filing. There are also additional services that can be purchased for additional add-on tax filing help such as TurboTax Live and Max. These add-on services provide services such as unlimited tax advice from live CPAs, audit representation, and identity theft monitoring (Max, 2020). The product (or service) is such an essential part of the marketing strategy. The product (or service) is such an essential part of the marketing strategy because people need to feel a want or need to purchase the goods provided.Place refers to how the product is distributed to the customers. This part of the marketing mix involves much more than just distributing the product or service. Timing, placement, and quantities all have to beperfect in order to maximize distribution. For companies like TurboTax, the timing aspect is a little easierto figure out. They can advertise year-round to increase name recognition, but slightly before and duringtax season (January to April) is when their services need to be easily accessible to customers. A largepriority for TurboTax is also the placement of their products (Marketing Mix, 2019). Since most of their customers just use the online services for TurboTax, placement on search engines such as Google and Yahoo is important for gaining customers. All of these aspects must be considered in order to optimize the number of potential customers.Another important part of the marketing strategy is price. Price consists of many different parts such as “advertised price, any discounts, sales, credit terms or other payment arrangements”. Price should also cater to the target audience. For example, if the target audience is lower-income families then the price should be lower than most of the company’s competitors. If the product is a premium good or service, then the price will be higher than other competitors (Marketing Mix, 2020). Price needs to be high enough to maintain a profit and low enough to be affordable for the target audience. Since TurboTax caters its product to a wide variety of customers, they have free services and services for a couple of hundred dollars. This attracts any type of customer from those that just need basic tax filing services to those who need in-depth year-round help.A lot of different components go into the 4th P of the marketing mix, promotion. “It includes sales, public relations, direct marketing, advertising, sponsorship and social media.” This includes establishing your target audience and catering your advertisements to them (Marketing Mix, 2019). TurboTax advertises through commercials on popular television shows because their products are targeted to any adult that is planning on filing their taxes. you have also seen them target their services to military members and veterans by offering them free basic tax filing. That is actually the main reason why you file your taxes with them each year. Since they are a larger company, they can use commercials and other forms of advertisement to target a wide audience.The last P of the marketing mix is people. This includes customers and employees of a business. This is one of the main things that companies look at when working on growing their business. This is important for marketing because companies need to understand the wants and needs of their customers. This also includes setting goals for the company that center around growing the number of customers (Marketing Mix, 2019). One thing that TurboTax should do is train employees and keep their leadership updated on the major goals that the company has. This will allow them to grow the number of tax-filing customers they have. Product is the items that you offer to the customer to buy from the company and what the customer sells in their facility. This also range from how the company marketing their product by advertise what they are selling to their customers.Place is the active building where you are going sell your produce in order to get customer to come purchase your


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