As a future entrepreneur, picture your product without a brand name, displayed on the shelves of various malls and groceries competing with other products with brand names. How do you think will your product increase in sales? Will the consumer notice it or even remember it? • Answer it without forgetting what is asked
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- Look for a nearby company that recently introduced a new consumer product as an example. Describe how the four Ps were implemented by the company while releasing that new product, and then describe its success following the launch.As a future entrepreneur, picture your product without a brand name, displayed on the shelves of various malls and groceries competing with other products with brand names. How do you think will your product increase in sales? Will the consumer notice it or even remember it? Write answers in 3 sentences or more.Assume that you are working in the marketing department of a major manufacturer of athletic shoes. Your firm is introducing a new product, a line of disposable sports clothing. That’s right—wear it once and toss it! You wonder if it would be better to market the line of clothing with a new brand name or use the family brand name that has already gained popularity with your existing products. Make a list of the advantages and disadvantages of each strategy. Develop your recommendation.
- Suppose you are marketing team head or leader of a renowned pharmaceutical company. Now your company thinking to launching a anti-ulcerant products generic name is Pentoprazole. But in the existing market, the product is already there by different brand names by the different pharmaceutical companies. How you can market your product? Or what is your strategies or advertisement techniques to market your product to grab the existing market?Being first to market can be an advantage and a disadvantage. Provide at least one reason for each.Describe the level of market orientation that currently exists in your company. How will a market orientation contribute to the success of your new product?
- How can businesses create a sense of urgency and excitement around a product launch to drive initial sales and adoption?Would current customers benefit from the product?Enhancing and optimizing customer retention and loyalty is an important part of any marketing plan. Explain why this is the case, and give two examples of businesses that use this strategy?
- What skills and knowledge do you need to possess in order to develop a useful marketing plan?As a marketing manager what efforts you can put in place that can shape your companies brand to meet dramatic developments occurring in the marketplace everyday?How would you encourage your customers to buy your product?