How does one manage new product-service ideas

Assignment Help Marketing Research

Reference no: EM131345594

https://phoenix.vitalsource.com/#/books/9781323299838/cfi/10/10!/4/2/2@0:0

1. Attacking a leader is always difficult. Some strategists recommend attacking a leader "head-on" by targeting its strengths. Other strategists disagree and recommend flanking and attempting to avoid the leader's strengths.

Take a position: The best way to challenge a leader is to attack its strengths versus The best way to attack a leader is to avoid a head-on assault and to adopt a flanking strategy. (350 words)

2. Read pages 348-359 and 362 of Marketing Management.

Consider the following as you read: What is the difference between fad, fashion, and style? (350 words)

3. The "form versus function" debate applies in many arenas, including marketing. Some marketers believe that product performance is the end all and be all. Other marketers maintain that the looks, feel, and other design elements of products are what really make the difference.

Take a position: Product functionality is the key to brand success versus Product design is the key to brand success. 350 words

4. Some service marketers vehemently maintain that service marketing is fundamentally different from product marketing and that different skills are involved. Some traditional product marketers disagree, saying "good marketing is good marketing."
Take a position: Product and service marketing are fundamentally different versus Product and service marketing are highly related. 350 words.

5. Consider the following as you read:

How does one manage new product/service ideas and bring them to market? 350 words

6. Watch the "TED Talks: Tony Fadell-The first secret of design is...noticing" video. Summary the vedio in 350 words

PART B (COCACOLA )

Purpose of Assignment

All products/services go through a life cycle of NPI (new product introduction), growth, maturity and decline. These various stages affect the marketing strategy and promotional efforts. In Week 3, you will incorporate a product strategy that addresses at least 3 areas of the product life cycle. The primary objective of this assignment is to allow the student to demonstrate an understanding of the factors that can affect the launch of a product or service. A secondary objective is to understand the differences in a product launch in the U.S. (domestic market) and an international market.

Assignment Steps

Generate a minimum 700-word product strategy in Microsoft® Word.

Incorporate a product strategy that addresses the following:

• At least three areas of the product life cycle (NPI-new product introduction, growth, maturity and decline).

• How you will measure (what metrics will be used to determine success or failure) the marketing activities.

• Create at least two different types of media methods for the products. One media method must be a print method and one must be non-print. A media method is a media strategy which highlights your product. For example, (this cannot be used in this assignment), a non-print media method would be a Facebook campaign that provides a user a reward for each review, positive or negative, posted about the use/appearance/price/etc. of the product. In your assignment, you should have 2-3 sentences about each media method (i.e. one paragraph of what you would do, not how to do it).

• Address three elements of the Product and Promotion List (see below).

Product and Promotion List:

Integrated Marketing Communication

Advertising Strategy/Objectives

Push and Pull

Media Strategy

Advertising Execution

Direct Marketing

Public Relations/Strategies

Positioning

The plan will be a continuation of your global or multi-regional company you chose in Week 1. This will be incorporated into your overall marketing plan for Week 6.

Note: Charts/graphs/tables do not count toward the word count.

Cite a minimum of three peer-reviewed references.

Format your assignment consistent with APA guidelines.

PART C

Design a Product Refresh Product Launch Plan in Microsoft® Word. The product launch plan will be for two markets: U.S. and one international market. Domestic market generally means the market where the company headquarters are located. If you choose a domestic market that is not the U.S. than your other market is required to be the U.S. Compare your product/service to at least one other competitor. This can be a product/service that is used by a team member in their individual assignment. The competitor does not need to be in both markets, you can have two different competitors, one for each market.

USE COCACOLA HAS THE PRODUCT

• Address competition in each region and how the new product or refresh provides a competitive advantage. 260 WORDS

. Evaluate the potential growth rate. Look for information on similar products/services to determine a 3 year growth rate (Compound Annual Growth Rate-CAGR). Information may be located in the University Library. 260 WORDS

Reference no: EM131345594

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