THE VACCINE is COMING: Who do you call and with what?
This is a marketing class exercise with the following outcomes (Z), rationale (Y) and method (How? X)
Z: Develop and demonstrate a theoretically sound and practical application of the marketing mix strategies (4Ps) that is relevant to a primary target market (PTM)
Y: This is a key component of a marketing plan
X: Create, upload a 6 minute youtube video (one submission per group) that highlights your group’s recommended 4Ps for a PTM on a product/ service that is related to the launch of a corona virus vaccine.
Scenario:
5 Vaccines will be commercially available in developed countries like the US and Singapore by June 2021 and in 3rd world countries like the Philippines by Dec 2021.
The most expensive vaccine (cost) for the full treatment is P 20,000 while the cheaper is P3,000. The other 3 vaccines cost P 4,000, P 8,000 and P12,000.
Task
As a group, select your PTM and what you will offer for your 4Ps. This is Part 1 of the Assignment. Concentrate on the PTM and the Product and Price. Part 2 (due on Module 4, date to be selected will focus on the other 2 Ps- Promotion and Place.)
Create a company, or brand, or product/service that will take advantage of this pandemic opportunity.
Since this is hypothetical, you can assume a lot of things – effectivity, # of doses required, form of the vaccine. But you cannot have it all ie. It’s the cheapest, but most effective vaccine that has the longest expiry date that is the safest. There will be compromises and it is reasonable to expect that the cheapest will have the lowest effectiveness and highest probability of side effects.
Rubrik:
Name your Marketing Concept: 20%
Correctness and Completeness of Description of Primary Target Market: 30%
Alignment of PTM and Product : 20%
Alignment of PTM and Price: 20%
Use of Story Selling Principles in the Video: 10%
Here are the Outputs of the 5 groups:
Classroom Activity:
Learn by being the judge. As you watch each video, try to score each video according to the Rubrik. You may want to write the Rubrik on a piece of paper or answer this google form.