Marketing and promotional mix for a teams product

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Reference no: EM131486409

1. How will the adoption process help one design the marketing and promotional mix for a teams product launch internationaly?

2. How will each of the five characteristics of innovation help impact the success of a launch of a product in another country?

the adoption mix is below

A. Awareness: This is where the customer becomes aware of it but does not know much information about it. In this stage advertising is critical, without creating awareness of a new product how will the company be able to sale without people knowing it even exists.

B. Interest: They became aware of the product, becoming aware is one thing but wanting to know more information on a product is another. This is where the customer focuses their attention on the product and seeks out to research more information. Having a website is key for this stage to perform properly.

C. Evaluation: In this stage, the customer mentally assesses the products benefits to their present needs. They also read on reviews what others have to say about the product. It is important that the product has differences within other products, if it doesn’t than the customer won’t see what is the point in buying this product if it doesn’t benefit in any other way.

D. Trail: Most customers will not purchase expensive products without a “hands-on” experience with it. For example testing driving a car, or a computer software that give people “full trails” for a sometime before they go ahead and purchase. If their expectations were not meant then they will not buy it.

E. Adoption: At this stage he or she is ready to purchase the product. It’s like reeling in a big fish, got this far better reel in the big catch aka the sale. Make the payment process simple and pain free. Having a good sales rep and word of mouth can help complete this stage and make the sale complete, which is the ultimate goal.

5 characteristics of innovations

A. Relative Advantage: How the new product compares with existing products or methods to the customer. If they don’t see a new improved innovation than they will not even bother to learn more about it. For example a product that is easy to diffuse is: CD players. Difficult: the Apple watch, not many find it that more efficient since you still need your phone on you anyway for the watch to work.

B. Compatibility: The extent to which a product is consistent with existing values and past experiences of adopters. Ex: the Sony Betamax failed because it only recorded for 1 hour. The VHS-format VCR could record for 4 hours.

C. Complexity: The degree to which an innovation or new product is difficult to understand and use. Can slow down the rate of adoption, particularly in developing countries with low rates of literacy. EX: personal computers were difficult to understand when they were first introduced which slowed their adoption despite their clear relative advantage. Easy: would be a slipping a DVD into a DVD player.

D. Divisibility: The ability of a product to be tried and used on a limited basis without great expense. Ex: mayonnaise in small plastic packets, they were cheaper for consumers, and more convenient

E. Communicability: The degree to which benefits of an innovation or the value of a product may be communicated to a potential market. High: someone driving a new car. Low: would be deodorant

Reference no: EM131486409

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