Evaluate the attractiveness of consumer market

Assignment Help Marketing Management

Reference no: EM13732209

Instructions: For the nation you studied for the purpose of completing the Foreign Relations assignment (and as reserved by you in the "Nation Wiki"), please evaluate the attractiveness of that consumer market for a new product in one of the following product categories (you choose the product category that interests you more):

• Denim clothing
• Designer eyewear
• Frozen foods, but primarily steak and other beef products
• Natural gas and propane BBQs

You are requested to consider several issues as you evaluate the attractiveness of this consumer market for the new item in the product category you have chosen. Although you are free (and are even encouraged) to consider additional issues that you believe are important to market attractiveness in the relevant product category, it is necessary that you assess:

• Market size and growth prospects
o Number of consumers, number of expected purchases annually, amount spent in the product category, etc.
• State of the economy, including growth prospects
• Political stability, including threats thereto
• Technology access and well as general social development (e.g., literacy, etc.)
• Attitudes toward the United States and toward American brands
• Quality of the bilateral relationship between the United States and the country you have chosen, including existence of treaties, tariffs, and other trade-related (dis)agreements related to your product category
• How the culture of the nation relates to or is consistent with your new product category
• The level of competition in the product category that the new product would have to manage

For any additional issue you discuss, please ensure you explain its importance or relevance to market attractiveness.

You are also to conduct your analysis considering the performance quality level of this new product. The company, which is based in the United States and has a seventy-five year history of operating in the United States, is considering a prestige market offering, a mass market marketing offering, or a simplified version of the product. You are specifically requested to make a recommendation keeping the following information in mind:

Product category	Product versions and pricing levels²
Product category	Prestige version	Mass market version	Simplified version
Denim clothing	$149.99	$59.99	$22.49
Designer eyewear	$449.99	$179.99	$19.49
Frozen foods, but primarily steak and other beef products³	$24.99	$9.99	$3.75
Natural gas and propane BBQs	$799.99	$319.99	$49.99

The outcome of your analysis should be a recommend to the organization as to which version of the new product should be most seriously considered for introduction into the consumer market.

Reference no: EM13732209

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