Quantity vs Quality: is there room for both in marketing? How The right mix of quality and quantity will help businesses in marketing and increasing sales?
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Quantity vs Quality: is there room for both in marketing?
How The right mix of quality and quantity will help businesses in marketing and increasing sales?
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- When is a business most likely to adjust the marketing mix of a product? If costs change If customer needs change If management changes If Price changesMarketing strategy decisions for a consumer product may be very different from the decisions for a business-to-business \\( p \\) True or FalseIn this module, the product life cycle was defined as a concept that explains how products go through four distinct stages from birth to death including: introduction, growth, maturity, and decline. Each stage is actually based on the market's response to the product. This dynamic causes firms to adjust their marketing strategies so that they are in alignment with the current stage. For this discussion, review the Product Life Cycle Strategies on pg. 304 in your text and respond to each prompt. Identify one product for each stage in the product life cycle (i.e., four different products) and explain how each product fits in its particular stage, as noted. • For the product you identified in the introduction stage, tell us what strategies you would use to launch this new product. For the product you identified in the growth stage indicate what strategy would be necessary to maintain brand loyalty as competitors now are entering the market. For the product you identified in the maturity…
- what sort of information is needed to fill in the market-product grid and allow the firm to make that target market decision?Suppose that you are the CEO of a car manufacturing company. You have 10 million US dollar to invest. You position your products in your product portfolio by using Boston Consulting Group (BCG) Matrix. So, you have a product line in each quadrant of the matrix. How do you allocate your investment budget among these product lines? Which strategies of growth and competition do you use for each product line?Conduct an analysis of the marketing processes/activities of /for Catherine's Peak Pure Spring Water (Located in Jamaica) You are required to do the following: Give a brief history of the company. This should include but is not limited to: the portfolio of products/services, the needs and wants to be filled by the selected product key players (competition) in the industry and the company’s overall position in the industry.
- Review the seven Ps of services marketing. How would they change your strategy in the simulation? How do the challenges of executing the additional Ps of services marketing relate to your previous, current, or potential work experiences based on industry? Provide specific examples.Pick two product categories – one should be a physical good and the other should be a service.A) For both the physical good and the service, outline and discuss how the three product levels could be structured. B) For both the physical good and the service, relate these three product levels to the consumer needs. C) In your opinion, how useful is it for a marketer to divide the product into its several product levels?Read and analyze the following case:The sales manager complains that his sales reps are not meeting monthly sales quotas. He is convinced that the reps need more sales training to handle the situation and solve the problem. Therefore, he asks you to design a strategy to address this situation. Use the following guiding questions. Answer each of them in detail.Is there really a need for training? What will be the purpose or objective of the training?Who should be trained?Who will develop the training?What form will the training take?
- Develop a SWOT analysis of any one product of your choice by comparing two models. Note: Do not select any automobile product.The challenge in identifying an attractive target market (Ice Cream) is to find a market that’s large enough for the proposed business but is yet small enough to avoid attracting larger competitors?Assessing the attractiveness of a target market is tougher than assessing the attractiveness of an entire industry.Often, considerable ingenuity must be employed to find information to assess the attractiveness of a specific target market.As a manager of a large clothing company, you are considering opening a new store in another parish to cater to the needs of your consumers in that particular area.Discuss the activities involved in each of the first THREE (3) steps in the rational model using the scenario above.