Describe your product or service offering

Assignment Help Marketing Management
Reference no: EM131416890

Part 1 - Creating Offerings

Diet coke (late maturity stage of life cycle) thats my topic for this assignment.

Learning Outcomes

1. Offering.  Student can describe an offering based on features, benefits, price, and costs of ownership

2. Type of consumer offerings.  Student can suggest marketing strategy implications based on the type of consumer offering under examination.

3. Product line extensions or new product development.  Student can suggest possible product line extensions or related product or service offerings based on the student's chosen product or service offering.

4. Product lifecycle. Student can suggest potential marketing strategies based on the product or service's lifecycle stage. 

Directions

Your job in this Writing Assignment is to develop marketing mix strategies to ensure a value offering for the target market you identified in the previous assignment. We begin with the value offering this week. 

We don't expect you to develop strategies based on a total knowledge of the product or service since you are not, or most likely not, employed by your product or service's company.  We will be looking to see if you can apply the marketing concepts to the real world situation.

Again, do not fall into the trap of reporting on the product or service.  This is obvious because your assignment will look like a rewrite of the company's website.  Don't be afraid to make strategy recommendations based on what you have discovered about the product or service, and how you think it can move forward.  Be creative, be reasoned, take risks. 

Remember your product's target market(s) from the previous paper.  Always keep them in mind when making your recommendations.  You now work for the company, and your goal it to help them grow sales. 

Prepare your assignment beginning with a title page including your name, your product or service, and the name of your target market.  Then answer each of the following four questions in order and number the beginning of each question.  There is no need to repeat the question text. 

1. Offering.  Describe your product or service offering as it is currently in terms of features and benefits, price and the total cost of ownership as discussed in the week's readings.  Is it more product dominant or service dominant?  What are the tangible and intangible aspects?

2. Type of consumer offering.  Based on the four categories of type of offerings discussed in course content, describe the category in which your product or service offering belongs.  Based on your new target market, would that category of the offering change and if so, how?  How would it change the marketing strategy? 

3. Product line extensions or new product development.  Should the current product or service be modified to more fully meet the needs of your new target market?  Would the changes constitute a new product line, a product line extension or a new product?  If no product changes are needed, how does the same product or service meet the need of your target market differently than current customers?  Would the product line extension or new product allow the offering to occupy uncontested space in the perceptual map for the target market as covered in thr previous paper?

4. Product lifecycle.  In which stage of the product lifecycle is your product or service offering now? Would the changes described in number 3 above change the lifecycle stage and if so how?  What would this mean to the lifecycle marketing strategy? 

Part 2 - Using Marketing Channels and Price to Create Value for Customers

Learning Outcomes

1. Marketing Channels.  Student can outline a multi-channel distribution system

2. Marketing channel strategy.  Student can recommend a marketing channel strategy for a product or service offering that assures the correct amount of intensity.

3. Value chain.  Student can discuss how each channel in the product or service offering adds value to the customer.

4. Pricing strategy.  Student can analyze a current pricing strategy and make recommendations for modifications.

Directions

This part of the assignment assesses your ability to relate marketing mix concepts of distribution and pricing to your product or service offering.  You will also have a chance to recommend new distribution and pricing strategies based on your new target market to meet their needs. 

Answer each of the following four questions, in order, numbering each of your responses.  There is no need to repeat the question. 

1. Marketing channels.  To the best of your ability, outline the marketing channels of your product or service offering as they currently exist.  Refer to Figure 6.2 for some ideas.  Most product and service offerings will have more than one channel, so your system should include at least two; for example (1)  a direct channel for internet sales:  manufacturer --> customer; and  (2) an indirect channel such as manufacturer --> distributor --> wholesaler --> retailer --> customer. If your product or service only has only a direct channel, explain why.  Would this channel strategy change as a result of your new target market?  Why or why not?

2. Marketing channel strategy.  Why type of distribution intensity strategy does your product or service currently use?  How do you know this?  Would this distribution intensity strategy change for your new target market? Why or why not?

3. Value chain.  Referring back to your marketing channel diagram, discuss what each member of the value chain does to bring value to the consumer. 

4. Pricing strategy.  Referring to the various pricing strategies outlined in the week's readings, which one does your product or service currently use?  Would you recommend any changes for your new target market?  If so, how would you change it and why?

General Submission Requirements

Prepare as a word processed document (such as Microsoft Word). Use a simple 12-point font such as Times New Roman.  Use black ink for majority of your work and only use colors if it enhances your ability to communicate your thoughts. 

Your assignment should be the equivalent of approximately five pages of double-spaced text, approximately 1/2 page for each of the eight questions (four in Part 1 and four in Part 2).  You may attach exhibits that will not be counted towards the page count of double-spaced text. The cover page and Bibliography page are not part of the five pages of written analysis.

Be sure your name, writing assignment number, and the name of your product or service are on the cover page of your writing assignment.

Include a bibliography, which includes at least four references.

Reference no: EM131416890

Questions Cloud

What is the sum of the series : 1. Each level of a smartphone app adds more gems for you to match. On level one, there were 13 gems. On level twelve, there were 123 gems. When you complete all twelve levels, how many total gems will you have matched?
How will you create and sustain a positive environment : How will you create and sustain a positive environment for your team? What are some of the challenges you may incur with team members? How will you make this new merger fun and exciting for your organization?
Allowing consumers to connect with pizza hut : Allowing consumers to connect with Pizza Hut over the Web whenever and however they wish, represents the facet of brand engagement described as
Choose one protest song from the 1960s and one protest song : In this Assignment, you will build on the knowledge you gained while completing the Discussion Board requirement. At this time, you will perform a textual analysis of protest songs. To complete this Assignment, you must choose one protest song fro..
Describe your product or service offering : Offering.  Describe your product or service offering as it is currently in terms of features and benefits, price and the total cost of ownership as discussed in the week's readings.  Is it more product dominant or service dominant?  What are the t..
What steps can be taken to resolve conflict within a team : What steps can be taken to resolve conflict within a team? Can conflict be good for a team? Why or why not? How important is communication when resolving conflicts?
Why states choose to use common core : Why states choose to use Common Core (in other words, what are the purported benefits of using Common Core?) What using Common Core means for their children in terms of changes in curriculum, assessments, and report cards?
Possible for random variable : Assume that the deck contains 3 aces, 6 other face cards, and 8 non-face cards, and that you randomly draw 3 cards. A random variable ZZ is defined to be 4 times the number of aces plus 3 times the number of other face cards drawn. How many differ..
Create two posters that can be displayed in birth : Create two posters that can be displayed in Birth to Age 5/Pre-K and K to Age 8/Grade 3 classrooms. The posters should outline your classroom guidelines for behavior expectations, reinforcers, and consequences.

Reviews

Write a Review

 

Marketing Management Questions & Answers

  Identify the mode of transportation used

Identify the mode of transportation used between each stage in the channel?-  Identify by name and location the component parts of the product, if any.

  Future planning efforts in the marketing arena

The United States will need 600 million immigrants between now and 2050 to keep the worker/retiree ratio from falling. What does this mean for our future planning efforts in the marketing arena?

  To which school of legal thought does judge a belong

Imagine that you were a judge in the case set forth in Problem.- To which school of legal thought does Judge A belong? Explain.

  From your research and what you have learned identify three

to correctly identify opportunities and threats to their product marketing managers need to understand the marketing

  How frequency distribution aids healthcare researchers

Write a paper on the importance of organizing and describing data and how frequency distribution aids healthcare researchers / practitioners

  Learn more about the franchisee

What other Internet sites might provide helpful information to Moore as he tries to learn more about this franchisee?

  Develop branding strategies for existing and new products

Examine the marketing science of customer behavior and products in the marketing exchange process and create dynamic strategies for competing. Evaluate the basis for market segmentation and approaches to segmentation.

  Important elements of analysis stage of a direct marketing

Explain why you agree or disagree with the contention that the APIC-type model is useful as a framework for direct marketers or sales promoters to operate within.

  Marketers must see themselves as benefit providers for

1 marketers must see themselves as benefit providers. for example when a shopper purchases new shoes he or she expects

  Analyze customers needs for the target product

Competitor benchmarking involves identifying a business's main competitors and then comparing itself against them in key performance areas. Competitive benchmarking involves going outside a business's market or industry to study a company that exc..

  How you would use the diffusion of innovation

Explain how you would use the Diffusion of Innovation concept to promote your idea. Identify and describe the group you would target as your early adopters

  Explain successful e-business sites

Give three real-world examples of sites that have successfully supported ebusiness goals and strategies. Post at least three sites (their url) and explain why you have listed them.

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