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

Channel - management decisions, Channel - management decisions: after a co...

Channel - management decisions: after a company has chosen alternative, individual   intermediaries' must be selected trained, motivated, and evaluated. Channel arrangements must

Pricing, how cost structure influence in pricing a product?

how cost structure influence in pricing a product?

Presentation on event planning group, The Company President has asked your ...

The Company President has asked your 'event planning group' to prepare a report and presentation on a possible 4 day 'get-away' for the company's TOP GUN sales leaders as of Decemb

Solve the example using costing techniques, Roux ski is a company that spec...

Roux ski is a company that specializes in the manufacture of ski pants. The senior management accountant has been asked to advise the board of directors on a production and sales p

What you understand by boundary-spanning roles, Question: Consider you ...

Question: Consider you a front-line manager in a hotel. From this perspective, a) Describe the service encounter. b) discuss methods which you would use in the service e

Characteristics of product oriented concept of marketing, Characteristics o...

Characteristics of old or product oriented concept of the marketing: Main characteristics of this concept of marketing are as follows: 1.      It stresses upon the produc

State the relationship marketing principles, State the relationship marketi...

State the relationship marketing principles Numerous organisations use relationship marketing principles, manifest in the form of customer relationship marketing or loyalty mar

The internet for marketing purposes, The DD drinks company was founded over...

The DD drinks company was founded over one hundred years ago by a deeply religious family and has been recognised as being a good employer ever since. The company has a long histor

What are the major promotional tools used by a marketer, Question 1: (i...

Question 1: (i) What are the four major promotional tools used by a marketer? (ii) What kind of promotional mix will you select for; (a) Consumer durables? (b) Heavy

Consumer buying behevior , how to made the question for consumer buying be...

how to made the question for consumer buying behevior project

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