Describe a novel product of service

Assignment Help Marketing Management

Reference no: EM131493709

Discussion: "Developing and Branding New Offerings"

Please respond to the following:

• Analyze the steps involved in the new product development process and determine which step presents the greatest challenge from a marketing perspective (other than the marketing strategy development step). Explain your rationale.

• Describe a novel product of service (please be as creative as you like) and briefly discuss a brand management strategy. Provide specific examples to support your response.

DUE TO ME NOT HAVING MY BOOK.. HERE IS AN EXAMPLE OF ANOTHER STUDENTS ANSWER...

Step 1: Generating
Step 2: Screening the Idea
Step 3: Testing the Concept
Step 4: Business Analytics
Step 5: Beta/Marketability Tests
Step 6: Technicalities and Product Development
Step 7: Commercialize
Step 8: Post Launch Review and Perfect Pricing

The step that has the greatest challenge from a marketing perspective would be keeping up with commercializing. The reason I say this is because the company is going to spend a long time making sure Steps 1-6 are ready for "Go-Live" of what they are going to offer and they can test it as many times as they want but until they are actually in the "Go-Live" event they aren't going to be 100% sure on what exactly is going to happen when people start going on to their sites and looking up the products and wanting to buy them or come in to see them. They have to make sure they have enough staff to keep up with the demand just in case something crashes. They have to make sure they constantly keep the audience in toon and keep them interested in their business.

A novel product of service that I would have is "Wellness Wednesdays". I would partner up with another company and have one of my providers each month on the first Wednesday of the month go out to the facility and discuss topics with their employees. It would be a way for us to bring in new patients but also give them knowledge on what is important with their health care. Each month we would bring gifts to engage the employees to come in and speak with us about the topics we choose for that month. If we can engage the employees on how important their health is, we are more likely to have them come to us and be our patients.

Reference no: EM131493709

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