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

Discuss the different roles performed by retail banking, Question 1: (a...

Question 1: (a) Explain the rationale behind financial sector development and liberalisation in a developing economy like Mauritius. (b) Discuss the various policy and inst

Discuss the importance of customer care, Question: "Customer service i...

Question: "Customer service is an organization's ability to supply their customers' wants and needs. Customers and business managers alike like to talk about what good custome

Maximize profits, The Nosmell Nutrient Compnay has placed an order for the ...

The Nosmell Nutrient Compnay has placed an order for the coming month for 500 tons of nitrate, 800 tons of phosphate, and 1,200 tons of potash. The company blends these ingredients

Desk based research, Jamieson (1997) suggests that Australia's ability to i...

Jamieson (1997) suggests that Australia's ability to identify and capture the considerable opportunities which will continue to emerge in the Asian region will play a significant r

Relationship between brand loyalty and corporate image, Sanitex limited sta...

Sanitex limited started its operations in West London 4 years ago. Its founder, and current C.E.O, Mr. Griffins founded the company with his wife after being made redundant from Ex

What is a marketing mix, Problem 1: (i) What is a marketing mix? (ii...

Problem 1: (i) What is a marketing mix? (ii) Will the nature and composition of the marketing mix be the same for all products at the same stage in the product-market life c

Essentials of headlines for advertisement, Q. Essentials of Headlines for a...

Q. Essentials of Headlines for advertisement? Essentials of Headlines:- It must be attractive. It must be brief. It must be easy to memorise. It must narra

PEST ANALYSIS.., 3. Select any of the Godrej SBUs and undertake a PEST anal...

3. Select any of the Godrej SBUs and undertake a PEST analysis with regard to its business. Identify products which can be considered for launch by the selected SBU.

Self-management in renal nursing, Statistics show that rates of CKD are con...

Statistics show that rates of CKD are continuing to rise in Australia and worldwide. Global and national economies and health politics affect the health budget.  A nephrology se

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