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

Determine the role of marketing communications, Marketing communications ...

Marketing communications Marketing communications recognise the development of channel or trade marketing. Numerous organisations have moved away from the traditional control

Integrated marketing process model, Problem 1: What do you meant by the...

Problem 1: What do you meant by the integrated marketing process model? Explain in brief - Detail Explanation on integrated marketing process model including the figure.

Discuss data analysis phase on shortly, Discuss data analysis phase on shor...

Discuss data analysis phase on shortly. Phase Data Analysis: When you’ve performed via online market research, now go to systematize the data you have. Note down what ar

Effect on product - quality, Effect on Product-Quality: - Advertising prom...

Effect on Product-Quality: - Advertising promotes competition as well as every advertiser wants to succeed in this competition. Advertiser recognizes that for long term success in

Show the factors affecting the advertising budget, Q. Show the Factors affe...

Q. Show the Factors affecting the Advertising Budget? Factors affecting the Advertising Budget 1) Market Size 2) Stage in Product Life Cycle. 3) Advertising Strategy

Henry Assael Model of buying decision behavior, Explain Henry Assael Model ...

Explain Henry Assael Model of buying decision behavior .

Assignment, How should price be set on a product or service for the first t...

How should price be set on a product or service for the first time?

Discuss the concepts relationship and loyalty marketing, Question 1: (a...

Question 1: (a) Critically discuss the concept "Communications Strategy". Support your answer with relevant examples. (b) Using relevant examples, explain the term "Sales

Marketing plan for a new tourism venture, Assignment Objective The overa...

Assignment Objective The overall objective of the assignment is for you to complete a marketing plan for a new tourism venture in your selected country and one that will lead to

Marketing function of the physical supply, Function of the physical supply:...

Function of the physical supply: The second group of the marketing process is the physical supply. These are the functions that are related with creation of place and time u

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