marketing strategy multi player, Marketing Management

Assignment Help:
#questionThis week in the Music2Go Multi-Player you will be required to launch a New Product into one of the empty Market Segments (Sports or Youth). Part of this process will be to complete a New Product Launch Report which will require you to set specific and measurable objectives that will assist you in achieving the goals of your organization''s Marketing Strategy. This is the second phase of the Strategic Management Planning process. You will need to think about how this new product complements the Marketing Strategy you created in Week 3 (LP2.2). Support your reasoning with data from the Music2Go Player’s Manual, Music2Go Reports and Market Research, and theory learned in class where appropriate. For this assignment you are required to cover at least the following points:

1. Target Market: Which target Market Segment (Youth or Sports) will you pursue with your new MP3 Player? Why did you select this Market Segment?

2. Sales: What is your first-year Sales Forecast for your new product in units? Explain how you arrived at this forecast.

3. Pricing: Describe your Pricing Strategy that you will use to launch your new product and why that strategy is appropriate (e.g. skimming vs penetration). What information did you use to decide on your launch price?

4. Advertising: Describe the Advertising Mix that you will use for your new product (i.e. how you will split your advertising spend across the different media types). Justify why this is appropriate using information from Player’s Manual and the simulation Market Research reports.

5. Distribution: Describe your Distribution Strategy regarding Retail Margin and why this is appropriate.

6. Forecast Results: What is your first-year forecasted Product Contribution for your new product? Describe any tradeoffs you made in your decisions above that may have an effect on Product Contribution. Describe your long term plans for ongoing product development in terms of cost reduction and product specifications of your new MP3 Player and why this is appropriate.

7. Marketing Strategy: What are your areas of uncertainty, and how might this affect the success of the product launch? Explain how this new product fits with your overall Marketing Strategy.

This assignment should be no longer than two or three pages. Submit this assignment to your instructor via the dropbox " LP4.2 Assignment: Music2Go Multi-Player New Product Launch Report." This assignment is worth 50 points; grading will be based on the following Scoring Guide...

Related Discussions:- marketing strategy multi player

Branding, what is branding??? and hoe m,any types of branding we can do???

what is branding??? and hoe m,any types of branding we can do???

Explain the microsoft dynamics crm case resolution process, Question 1: ...

Question 1: (a) Microsoft Dynamics CRM system can be used to meet the needs of Customer Support and Product Support department. Explain the main modules in the Service sectio

#title.a marketing plan and implementation, a marketing plan is as good as ...

a marketing plan is as good as its implementation discuss

Explain about the advertisement and economy in marketing, Explain about the...

Explain about the Advertisement and Economy in Marketing. Advertisement and Economy: • Produces more employment • Fluctuations into Advertisement budget as per economi

What is residual or affordable method, Q. What is Residual or Affordable Me...

Q. What is Residual or Affordable Method? Affordable Method: - This method is as well known as all you can afford, Residual Method, Available-fund-Approach. As the company do

Percentage, income inreased by 10% later decreased by 10%. total change in ...

income inreased by 10% later decreased by 10%. total change in % in income

Importance of the study of the consumer behaviour, Importance of the study ...

Importance of the study of the consumer behaviour: in olden days, the importance of consumers behaviour was not realized because it was sellers in the olden days, the importance o

Product life cycle, considering the concept of product life cycle, where wo...

considering the concept of product life cycle, where would you put video games in their life cycle

Pricing, how cost structure influence in pricing a product?

how cost structure influence in pricing a product?

Conditional probability, What is Conditional Probability? Two events A ...

What is Conditional Probability? Two events A and B are said to be dependent when  B  can occur only when A is known to have occurred (or vice versa). The probability attached

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd