Answered: What is the term that is used to…

What is the term that is used to describe, when a company focuses on new product and market development that requires superior market intelligence and reeducating distribution channel members?

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Similar questions

A firm has developed a new roofing material that also produces electricity from sunlight. This material is very light and inexpensive. Besides roofing, it could also provide an inexpensive carport covering for open-air parking lots. The firm has hired you as a consultant for the successful national launch of this product. You are required to present a report to the senior management describing when and where this product should be launched. Identify different segments of the market for launching this product. Recommend which segments of the product should be targeted first for maximum returns to the firm and support your recommendation.
what is it called, when a company focuses on new product and market development that requires superior market intelligence and reeducating distribution channel members?
Below is a list of descriptions and/or elements of a concept. Read each description carefully and identify the concept. Your answer should include only the correct word or concept. A term that refers to the process of planning and executing the conception, pricing, marketing communication and distribution of ideas, products, and services to create exchanges that satisfy individual and organisational goals. A term that describes the activities used to transfer the market offering to the buyer.Activities include primary, auxiliary and exchange activities. The focus of this term is to identify core customers; establish relationships with these customers; maintain and enhance those relationships; and, if and when necessary, terminate those relationships so that the objectives of all parties involved are met. This exists when there are relatively few businesses marketing a particular product and it controls much of its supply. It is the careful gathering, processing, analysing and…
A marketing plan may be included as part of a larger business plan. A solid marketing strategy is the foundation of a well-written marketing plan that will allow goals to be met. While a marketing plan contains a list of actions, it is useless to a business without a solid strategic foundation. The marketing plan will assist in determining who the target market is, the best way to reach them, the price point at which the product or service should be sold, and how the company will measure its efforts. Construct a marketing plan for your organization using marketing model canvas.
choose a product that you have purchased recently. Research and investigate this product on the Internet and in the marketplace. Evaluate the marketing mix (product strategy, pricing strategy, distribution strategy, and promotion strategy) used by the manufacturer of this product. At a minimum, consider the following questions in your investigation: Product Strategy : In what category of consumer products (convenience, shopping, or specialty) does this product fall? Why? At what stage is this product in the product life cycle (introductory, growth, maturity, decline)? Why? What role, if any, did branding (brand name, symbol, slogan, etc.) play in your selection of this product? Why? What role, if any, did packaging play in your selection of this product? Why? Evaluate the quality of the product in terms of quality level and product consistency. Promotion Strategy : Identify the various media used to promote/advertise the product. Did other promotional tools (sales promotion,…
omplete a Marketing Plan that introduces a new product by an existing Fortune 500 company.
If you look at any company you will notice that they sell more than one product. Explain the importance of a product portfolio to a firm.
The CEO of your organisation has announced a plan to expand the company’s market offering and launch a B2B division for the products and services offered. You are the Marketing Director of a company of your choice (your choice of company should be communicated to your lecturer and approved by week 6 of the semester). You have received a directive from the CEO of your company that, over the next year, the aim is to launch a B2B product line for your company. Given this directive, and your research and industry analysis, you feel empowered to undertake this exercise. You have written to the CEO advising him of your intention to prepare the following on behalf of the company requirement explain the swot evaluation for Dixon’s Seamstress Establishment. The business-to-consumer (B2C) approach has traditionally been used by Dixon’s Seamstress Establishment. The management team has given the marketing team the responsibility of creating a program to enter the B2B market as part of their…
How would you set up a sales organization (team) for a FMCG company setting up their operations and having headquartered in Mumbai?
You currently work as a consultant for a large beverage corporation. Include a discussion with the company about how it should update its online image and how it should incorporate the internet into its overall marketing strategy. It is strongly recommended that draughts be created in advance to ensure that all essential web pages function properly after they have been published live.
Key account management is a strategy used by suppliers to target and serve high-potential customers with complex needs by providing them with special treatment in the areas of marketing, administration and service. As a Sales Manager, you have been tasked by management to consider setting up key accounts. Explain five (5) circumstances under which you feel a company is more likely to move towards setting up key accounts. In addition, briefly discuss five (5) criteria to consider in selecting key accounts for your company.
Within the BCG matrix, products that earn the dog label have limited market potential for the firm and also only hold a small relative market share. Products identified as dogs within this framework are typicallyobvious candidates for divestment, but are there anycases where doing so would not be wise for an organization? That is, why would a firm want to hold onto a dog?