What are the potential benefits and consequences of

Assignment Help Other Subject

Reference no: EM13453914

1 One of the fundamental elements of theoretical marketing is that no single product or brand can fulfill the universal needs of all potential consumers thereby necessitating an organization to undergo the process of segmentation revealing a refined target market ultimately based on similar needs. However, a dichotomy exists in applicable marketing practices in that this mentality tends to be replaced with guidelines supporting more generalized marketing efforts. These efforts tend to be fundamentally based on the idea of marketing the product or brand to every potential consumer reachable by the organization.

What are the potential benefits and consequences of developing, implementing, and executing a marketing strategy targeted at a specific market segment versus one that is aimed for the general population? Is one type of strategy universally better to use than the other or will it vary based on industry? What examples of both in today's market can you provide to support your response?

2 There are two basic pricing strategies that an organization can utilize for introducing new products. The first strategy is Market Skimming, which involves a product being released at a high price with the cost to consumers becoming progressively less expensive the longer a product is available in a market place. The second strategy is Competitive Pricing, which involves launching a product at a low price and then raising it as the product gains maturity in the market place.

What examples from your own experiences and/or the readings can you provide of each? What factors need to be considered in making the decision on which pricing strategy to employ when preparing to launch a new product? How can you use these pricing strategies to stimulate sales of both new and mature product lines?

Reference no: EM13453914

Questions Cloud

At what salesoutput level will marginal costs mc reach : over the past 12 months the four winds novelty company firm has recorded its internet sales equals monthly output

Food securitynbspmeans that everyone has an adequate : food securitynbspmeans that everyone has an adequate amount of nutritious food to lead healthy lives. you can

How would you treat possible future costs of lawsuit which : in calculating the incremental cost of a particular project how would you treat the possible future costs of a lawsuit

Write down the outer layer of the kidney what are its : question 1.name the arteries that supply blood to the kidneys.question 2.name the veins that drain blood from the

What are the potential benefits and consequences of : 1 one of the fundamental elements of theoretical marketing is that no single product or brand can fulfill the universal

There are no price efficiency or spending variances and any : consider the following informationnbspq1q2q3beginning inventory units0j300budgeted units to be produced40004000qactual

The mid-nineteenth century was a time of great change in : the mid-nineteenth century was a time of great change in the young america and many reform movements began in reaction

Why would the company have bid with zero mark-up on some : your company bright paints is one of a dozen companies manufacturing a special reflective paint used for traffic signs.

Regarding the varieties of representative government : regarding the varieties of representative government institutions in europe there are a number of important choices to

User Account

All Pages