Discussion 4

The essence of a broad differentiation strategy is to appeal to the high-end part of the market and concentrate on providing a top-of-the- line product to consumers. incorporate a greater number of differentiating features into its product/service than rivals. lower buyer switching costs. outspend rivals on advertising and promotion in order to inform and convince buyers of the value of its differentiating attributes. offer unique product attributes in ways that are valuable and appealing and that buyers consider worth paying for.

Product - Ivory Soap Bar Understanding the marketplace and customer needs and wants: What are a few (at least 4) trends within the company’s microenvironment and macroenvironment? What do consumers value in this product? And/or how are you meeting consumers’ needs?   Describe the customer value-driven marketing strategy as it relates to your product using the following 4 steps.   1.Segmentation 2.Market Targeting 3.Positioning 4.Differentiation

Which of the following is/are generally accepted as (a) bad reason(s) for product extensions? Select one: a. Flanking price points of the current products b. Competitive parity c. Customer preference heterogeneity d. Creating branded variants

Women of different ages and segments take their Shampoos very seriously and will very carefully select the ones suitable for their hair type. They may buy multiple hair products for different usage and stages and will spend a lot of time in purchasing such products. On the other hand men are least interested in shampoos and hair products. For them a single product works well and will spend least time purchasing such products." In view of above statement answer the following: a. How do you promote a product which may be high involvement to one segment but low for another? b. Can a low involvement product be converted into a high involvement one?

3. Choose your favorite brand of beauty/hygienic products and analyze its marketing mix.

(1) Think of three car brands or specific models. Howare these products positioned in your mind? Whatterms do you use to describe them? (2) Given yourtransportation needs in the near future (assuming youwill need a car), which model is the most desirable?The least desirable?

1) Define each of the four PS. Does the four Ps framework do an adequate job of describing market responsibilities in preparing and managing marketing programs? why? 2) Do you see any issues with this framework in relation to service product? Explain.

..     What is the relationship between product differentiation and customer loyalty?

When the primary selection criteria a firm uses to decide whether or not to enter a new market segment centers around not having to develop a whole new set of products to meet the needs of that new segment, the firm would be referring to: Compatibility with the firms existing product A line. The ability of the new segment to afford its В product. The anticipated growth potential of the new segment The potential responsiveness of the the new D segment.

Describe is the difference of Subway Fast food chain from the competition in market. You may select an attribute important to the consumers and elaborate why you use this product or avail this service. Next, describe a main target market and discuss why they are the appropriate segment to target. Expound what you think is the value proposition of your chosen product or service.

First, quickly at a glance, what TV do you think you would buy? On what criteria do you think you based that decision? Try these decision-making processes, see what brand results for each, and see how confident you feel about the resulting brand suggested from each approach: What attribute do you find least informative? Eliminate that row. Continue to do so until a clear brand winner emerges. Is there a brand of TV that seems weaker than the others on some attribute you care about? Eliminate that brand. Continue until an obvious choice results. If you made a price-based decision, would you be happy? How would your final brand choice define you? How similar was this thought process to your natural analysis? How can you find out if your consumers think along these lines?

Pick an example of a pharmaceutical healthcare product   2. Prepare one slide, include:   o Type of product   o Disease/therapeutic area served   o Target population for use   o Brand and marketing details   Where does it fit in the market? Is it a leader, follower, new entrant?

Determine the marketing concept for two products below. For doing so, you have to find the following: Objective of the business: A Features of the product: Benefits of the product: Target segment of consumers: Type of marketing management orientation Objective of the business: DON'T TALK ÜF LOVE & PEACE Features of the product: Benefits of the product: WHEN YOU HAVE A DEAD ANIMAL ON YOUR PLATE Target segment of consumers: Type of marketing management orientation

3. Describe the marketing mix decisions (product, distribution, promotional, pricing) that marketers face. Choose a real-world product or service and apply the marketing mix decisions to it, explaining your choices.

You are required to select a commercial product/service/ offering of your choosing. This can be from any industry or any cartegory. You will then analyze the chosen product under the following categories. 1.Discuss the type of target market segmentation your selected product utilises, and fully justify you answer in the context of this example.

marketing mix. LET US APPLY WHAT YOU HAVE LEARNED Pretend that your company has been making and selling one product for the past five years. Plan to make additional three products. These may be in the same category as the first product or not. Use the following format. NEEDS/WANTS THAT HAS BEEN SATISFIED GOODS OR SERVICES REASON FOR OFFERING THE PRODUCT PRODUCTS Original Product New Product 1 New Product 2 New Product 3 insmels uot eld gne enob anitehem oubong, omot bsc

Differentiation focus on 1-Focus on a particular group or geographical market. 2-Seek differentiation in the targeted market segment. 3-Serve the special needs of a narrow target market. 4-all the above

With Products, Is It Form or Function?   Some marketers believe that product performance (function) is the main attribute of a product. Other marketers maintain that the look, feel, and other design elements (form) of products are what really sway the customer’s decision. Take a position on the ‘form vs function’ debate, i.e. How would you argue that Product Performance is the key to brand success  OR how would you argure that Product Aesthetics are the key to brand success.   Answer in less than 250 words

Answer questions 3-6 in relation to that product: Questions Please note the product chosen is mineral water. explain each question in details (1) Describe the product that you have Chosen . (2) Comment on the information provided on the label (3) How does the price of the product compare to the prices of the similar products in the category? (4) Who (which target market) is the product targeted to? (5) What consumer need does the product satisfy? (6) What marketing activities are used to promote the product in the store and nationally?

1. What trends in product variations/choices have you seen recently in marketing? provide one example. 2. How do you think companies want their customers to perceive their brand’s value or product design, and which method of promotion is well received by the general public? 3.    Do they cater to a wide range of population in their target market? Explain

3. Describe marketing mix decisions (product, distribution, promotional, pricing) faced bythe marketer and apply the marketing mix decisions to a real-world product or service.

In planning its market offering, the marketer must address the FIVE (5) product levels of the customer value hierarchy. List and explain each level.

1 Use the marketing process to examine and evaluate each of these factors about the products. Consider what Formula Botanica says about hair trends, and highlight the environmental factors that affect your function in the marketing of this product. • Understanding customer needs and wants; • Market offerings: bundle of benefits; • Being aware of market myopia; • Marketing, customer value and satisfaction; and • Exchanges, transactions and relationships and how it leads to market.

2. Why do we say that is more efficient not to compete directly with existing products? What are the expenses that may be incurred when we do try to compete with them? 3. What are the advantages and disadvantages of segmenting according to traditional variables such as demographics, psychographics, behavioural, and geographic?

To run a valid test marketing experiment regarding a possible purchase of the product, marketers need to answer which of the following questions? Group of answer choices a. what type of product adopters? b. how many cities will we need for the test market? c. is the product price reasonable in relation to the value? d. what needs will the product meet?

1. Why is the product life cycle an important consideration in selecting and developing a marketing strategy? 2. What are the core differences among the PLC stages that force marketers to alter their marketing programs over time?

How would you define market positioning? and How would you position your product/service in the market?

To understand customer needs and offer customers a complete experience, the marketer needs to address a few product levels for its product offerings. Define FIVE (5) product levels and apply the product levels to explain about CoverGirl cosmetics.

Using an example of a recent purchase which is a Playstation 5, answer the following questions:1. Justify, using relevant theory, why this was a high involvement purchase.2. Demonstrate how the product/service you purchased satisfied a need, within your answer identify what type of need this was.3. Explain why you chose this product over others you may have considered. You may want to consider how it differentiated itself from other products and which elements of the marketing mix it used to build this differentiation.4. Discuss whether you feel you gained value from this purchase, within your answer show how value is created during an exchange. could you please write around 2000 words with references?

Select a brand and present the members of its product line, identifying the markets that each product targets. Di the products together form a strategic fit (i.e., there are minimal prospects for cannibalization)?

In planning its market offering, the marketer must address the FIVE (5) product levels of the customer value hierarchy. Explain each level - Marks - 25