***Instructions: Please answer the following questions with a minimum of 200-word count for each question, total of 800-word count or more. A cover page/title page is not needed. Use scholarly articles to support your answer, include in-text citations and a reference page, APA format. Please use the reference that I provided in the attached file, here is the reference: Solomon, M. R., Marshall, G. W., & Stuart, E. W. (2012). Marketing: Real people, real choices. New Jersey: Prentice Hall. Also, 2 outside scholarly articles for in-text citation and references are required. Do not use Wikipedia, ask.com, online dictionaries, or etc. No PLAGIARISM and let me know if you have any questions or concerns!
Read the Chapter 1 Case: Real Choices at Colgate-Palmolive (page 37 of pdf., last page on the attached file)
1. Summarize the case and identify the dilemma facing Colgate-Palmolive.
2. Research the product at www.colgatewisp.com. Discuss each element of the marketing mix for Wisp. (use this website for in-text citation and reference page)
*note* Marketing Mix elements:
•Product (or Service) includes packaging design, branding, trademarks, warranties, guarantees, product life cycles and new product development
•Price setting profitable and justifiable prices
•Place (Distribution) Channels your product will go through to reach the customer
•Promotion (Advertising, Sales Promotion, Publicity, Personal Selling)
– (New) Positioning is where you place your product in the mind of the consumer.
– (New) People are those who create, produce, and then market the product
– (New) Packaging creation, design of packaging (related to product/promotion)
3. A key to long-term business success lies in a firm’s ability to offer value to customers through its product offerings. Identify and discuss the key sources of value at Colgate-Palmolive. How might these value-adding properties be communicated to customers?
4. What decision(s) do you recommend to Colgate-Palmolive? Discuss specific implementation tactics supporting your recommendation. Within the discussion identify the target market, market segment(s) and the competitive advantage.