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{"id":3188,"date":"2023-02-19T16:11:51","date_gmt":"2023-02-19T16:11:51","guid":{"rendered":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/chapter\/apply-it-14-3-the-marketing-mix\/"},"modified":"2025-06-25T15:19:43","modified_gmt":"2025-06-25T15:19:43","slug":"apply-it-14-3-the-marketing-mix","status":"publish","type":"chapter","link":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/chapter\/apply-it-14-3-the-marketing-mix\/","title":{"raw":"Apply It 14.3: The Marketing Mix","rendered":"Apply It 14.3: The Marketing Mix"},"content":{"raw":"<section class=\"textbox learningGoals\">\r\n<ul>\r\n\t<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand the 4Ps of marketing: product, price, place, and promotion&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:14720,&quot;10&quot;:0,&quot;11&quot;:4,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand the 4Ps of marketing: product, price, place, and promotion<\/span><\/li>\r\n\t<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Give examples of the marketing mix&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:14720,&quot;10&quot;:0,&quot;11&quot;:4,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Give examples of the marketing mix<\/span><\/li>\r\n\t<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand how marketing strategies align with corporate strategies&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:14720,&quot;10&quot;:0,&quot;11&quot;:4,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand how marketing strategies align with corporate strategies<\/span><\/li>\r\n<\/ul>\r\n<\/section>\r\n<h2>Strategic Brand Positioning<\/h2>\r\n<p>This Apply It continues using the Walmart case study video from earlier in this module. The video is included below in case you want to refresh your memory about specific details, but if you have already watched it, you don't need to watch it again.<\/p>\r\n<section class=\"textbox recall\" aria-label=\"Recall\">Retailers like Walmart and Target carefully develop their marketing mix to create competitive store brands.<\/section>\r\n<section class=\"textbox watchIt\" aria-label=\"Watch It\"><script src=\"https:\/\/www.youtube.com\/iframe_api \" type=\"text\/javascript\"><\/script>\r\n<p class=\"cc-media-iframe-container\"><iframe id=\"tpm-plugin-chhhfeaf-metMoxX9eAw?si=vDu2qxFAA-YWbiM2\" class=\"cc-media-iframe\" src=\"https:\/\/www.youtube.com\/embed\/metMoxX9eAw?si=vDu2qxFAA-YWbiM2?enablejsapi=1 \" frameborder=\"0\" data-mce-fragment=\"1\"><\/iframe><\/p>\r\n<p class=\"cc-media-iframe-container\"><script src=\"\/\/plugin.3playmedia.com\/ajax.js?cc=1&amp;cc_minimizable=1&amp;cc_minimize_on_load=0&amp;cc_multi_text_track=0&amp;cc_overlay=1&amp;cc_searchable=0&amp;embed=ajax&amp;mf=13387226&amp;p3sdk_version=1.11.7&amp;p=20361&amp;player_type=youtube&amp;plugin_skin=dark&amp;target=3p-plugin-target-chhhfeaf-metMoxX9eAw?si=vDu2qxFAA-YWbiM2&amp;vembed=0&amp;video_id=metMoxX9eAw?si=vDu2qxFAA-YWbiM2&amp;video_target=tpm-plugin-chhhfeaf-metMoxX9eAw?si=vDu2qxFAA-YWbiM2\" type=\"text\/javascript\"><\/script><\/p>\r\n<p>You can view the\u00a0<a href=\"https:\/\/course-building.s3.us-west-2.amazonaws.com\/Intro+to+Business\/transcripts\/Why+Walmart+Is+Making+Its+Own+Premium+Products+Now+%7C+WSJ_transcript.txt\" target=\"_blank\" rel=\"noopener\">transcript for \u201cWhy Walmart Is Making Its Own Premium Products Now | WSJ\u201d here (opens in new window).<\/a><\/p>\r\n<\/section>\r\n<h3>How do private label brands like Bettergoods and Target's Good &amp; Gather use pricing as part of their overall marketing mix? What role does price play in their brand positioning?<\/h3>\r\n<p>[reveal-answer q=\"68534\"]Click to Show Sample Answer[\/reveal-answer]<br \/>\r\n[hidden-answer a=\"68534\"]Private label brands like Bettergoods and Target's Good &amp; Gather use pricing strategically to position themselves in the market. Both brands employ a \"premium-value\" pricing strategy. They are priced higher than basic store brands but below national premium brands. This pricing approach signals higher quality to consumers while still offering better value than national brands.<\/p>\r\n<p>For Bettergoods, the slightly higher price point compared to Great Value signals superior quality and ingredients, reinforcing its \"elevated lifestyle\" positioning. Similarly, Target's Good &amp; Gather commands higher prices than basic store brands but delivers perceived value through better quality. Price becomes a quality indicator in this context, helping consumers mentally position these products in the mid-to-premium tier. This strategic pricing allows retailers to capture different consumer segments with higher profit margins compared to national brands.[\/hidden-answer]<\/p>","rendered":"<section class=\"textbox learningGoals\">\n<ul>\n<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand the 4Ps of marketing: product, price, place, and promotion&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:14720,&quot;10&quot;:0,&quot;11&quot;:4,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand the 4Ps of marketing: product, price, place, and promotion<\/span><\/li>\n<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Give examples of the marketing mix&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:14720,&quot;10&quot;:0,&quot;11&quot;:4,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Give examples of the marketing mix<\/span><\/li>\n<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand how marketing strategies align with corporate strategies&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:14720,&quot;10&quot;:0,&quot;11&quot;:4,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand how marketing strategies align with corporate strategies<\/span><\/li>\n<\/ul>\n<\/section>\n<h2>Strategic Brand Positioning<\/h2>\n<p>This Apply It continues using the Walmart case study video from earlier in this module. The video is included below in case you want to refresh your memory about specific details, but if you have already watched it, you don&#8217;t need to watch it again.<\/p>\n<section class=\"textbox recall\" aria-label=\"Recall\">Retailers like Walmart and Target carefully develop their marketing mix to create competitive store brands.<\/section>\n<section class=\"textbox watchIt\" aria-label=\"Watch It\"><script src=\"https:\/\/www.youtube.com\/iframe_api\" type=\"text\/javascript\"><\/script><\/p>\n<p class=\"cc-media-iframe-container\"><iframe id=\"tpm-plugin-chhhfeaf-metMoxX9eAw?si=vDu2qxFAA-YWbiM2\" class=\"cc-media-iframe\" src=\"https:\/\/www.youtube.com\/embed\/metMoxX9eAw?si=vDu2qxFAA-YWbiM2?enablejsapi=1\" frameborder=\"0\" data-mce-fragment=\"1\"><\/iframe><\/p>\n<p class=\"cc-media-iframe-container\"><script src=\"\/\/plugin.3playmedia.com\/ajax.js?cc=1&amp;cc_minimizable=1&amp;cc_minimize_on_load=0&amp;cc_multi_text_track=0&amp;cc_overlay=1&amp;cc_searchable=0&amp;embed=ajax&amp;mf=13387226&amp;p3sdk_version=1.11.7&amp;p=20361&amp;player_type=youtube&amp;plugin_skin=dark&amp;target=3p-plugin-target-chhhfeaf-metMoxX9eAw?si=vDu2qxFAA-YWbiM2&amp;vembed=0&amp;video_id=metMoxX9eAw?si=vDu2qxFAA-YWbiM2&amp;video_target=tpm-plugin-chhhfeaf-metMoxX9eAw?si=vDu2qxFAA-YWbiM2\" type=\"text\/javascript\"><\/script><\/p>\n<p>You can view the\u00a0<a href=\"https:\/\/course-building.s3.us-west-2.amazonaws.com\/Intro+to+Business\/transcripts\/Why+Walmart+Is+Making+Its+Own+Premium+Products+Now+%7C+WSJ_transcript.txt\" target=\"_blank\" rel=\"noopener\">transcript for \u201cWhy Walmart Is Making Its Own Premium Products Now | WSJ\u201d here (opens in new window).<\/a><\/p>\n<\/section>\n<h3>How do private label brands like Bettergoods and Target&#8217;s Good &amp; Gather use pricing as part of their overall marketing mix? What role does price play in their brand positioning?<\/h3>\n<p><div class=\"qa-wrapper\" style=\"display: block\"><button class=\"show-answer show-answer-button collapsed\" data-target=\"q68534\">Click to Show Sample Answer<\/button><\/p>\n<div id=\"q68534\" class=\"hidden-answer\" style=\"display: none\">Private label brands like Bettergoods and Target&#8217;s Good &amp; Gather use pricing strategically to position themselves in the market. Both brands employ a &#8220;premium-value&#8221; pricing strategy. They are priced higher than basic store brands but below national premium brands. This pricing approach signals higher quality to consumers while still offering better value than national brands.<\/p>\n<p>For Bettergoods, the slightly higher price point compared to Great Value signals superior quality and ingredients, reinforcing its &#8220;elevated lifestyle&#8221; positioning. Similarly, Target&#8217;s Good &amp; Gather commands higher prices than basic store brands but delivers perceived value through better quality. Price becomes a quality indicator in this context, helping consumers mentally position these products in the mid-to-premium tier. This strategic pricing allows retailers to capture different consumer segments with higher profit margins compared to national brands.<\/p><\/div>\n<\/div>\n","protected":false},"author":21,"menu_order":18,"template":"","meta":{"_candela_citation":"[{\"type\":\"copyrighted_video\",\"description\":\"Why Walmart Is Making Its Own Premium Products Now\",\"author\":\"WSJ\",\"organization\":\"\",\"url\":\"https:\/\/youtu.be\/metMoxX9eAw\",\"project\":\"\",\"license\":\"arr\",\"license_terms\":\"Standard YouTube license\"}]","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"part":3168,"module-header":"apply_it","content_attributions":[{"type":"copyrighted_video","description":"Why Walmart Is Making Its Own Premium Products Now","author":"WSJ","organization":"","url":"https:\/\/youtu.be\/metMoxX9eAw","project":"","license":"arr","license_terms":"Standard YouTube license"}],"internal_book_links":[],"video_content":null,"cc_video_embed_content":{"cc_scripts":"<script type='text\/javascript' src='https:\/\/www.youtube.com\/iframe_api'><\/script><script type='text\/javascript' src='\/\/plugin.3playmedia.com\/ajax.js?cc=1&cc_minimizable=1&cc_minimize_on_load=0&cc_multi_text_track=0&cc_overlay=1&cc_searchable=0&embed=ajax&mf=13387226&p3sdk_version=1.11.7&p=20361&player_type=youtube&plugin_skin=dark&target=&vembed=0&video_id=metMoxX9eAw&video_target=tpm-plugin-chhhfeaf-metMoxX9eAw?si=vDu2qxFAA-YWbiM2'><\/script>\n","media_targets":["tpm-plugin-chhhfeaf-metMoxX9eAw?si=vDu2qxFAA-YWbiM2"]},"try_it_collection":null,"_links":{"self":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/3188"}],"collection":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/users\/21"}],"version-history":[{"count":10,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/3188\/revisions"}],"predecessor-version":[{"id":9816,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/3188\/revisions\/9816"}],"part":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/parts\/3168"}],"metadata":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/3188\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/media?parent=3188"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapter-type?post=3188"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/contributor?post=3188"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/license?post=3188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}