Reference no: EM132024498

Question: In reflection towards the main talking points for the Unit 2 assignment, specifically on the discussion board questions, a number of the considerations should take into account that I haven't tried the product nor does it fit into an alternative product that I would plan to fully support. However, the initial findings and observations are relevant to the overall objectives that support the courses itinerary. This product that I will go into further detail in addressing is the almond extract milk product. As requested, the questions concerning the assignment will be listed as topic headers to focus attention on subject matter as well as to sort out the changes in talking point questions.

1. What questions do you have about the overarching Unit 5 assignment? Although not due until the end of the class, it is important that you begin planning for this project early in the course. What are your initial thoughts about how you will approach this assignment? Explain. The creation of a new product can be difficult and was curious to know if efforts should be more on shadowing a current new product? Another possibility is to make up an imaginary product. Plenty of the initial marketing steps involved are going to be similar with whatever the product choice is. Can it be said that the product planning and guidelines that are provided can be seen as a template that require a narrative in how to properly address them? So would it then be correct to state that the substantial information on how to market a product is the actual weighted graded portion and not so much on the details of the new product?

2. Using the product you chose in Unit 1 discussion board, List two features of the product and assess how they transform into benefits for you; determine consumer behavior towards your product as compared to their current behavior towards your competitor's product. Discuss how the product fits your lifestyle or psychographic. The product that was chosen in Unit 1 concerned almond extract milk. Two features of this product are that it is a dietary supplement to people who are lactose intolerant and that it can contain added nutrients to meet daily caloric and vitamin consumption needs. Consumer behavior towards this product is swaying towards the Vegan lifestyle, mandating that a humane diet should never include products that are derivatives of animals or animal byproducts. My personal beliefs reflect that of providing a greater choice for the consumer based on actual health and taste benefits that are in comparison with the competitive dairy milk product.

3. Based on Maslow's Hierarchy of Needs, what level of need will your ‘improved' product meet? Explain. At a higher by unit of liquid measurement cost than the traditional dairy milk product and aside from dietary considerations for people who are lactose intolerant, the almond extract milk product would fall into the Social Needs category based on Maslow's Hierarchy of Needs. A case could be made that for people subscribing to the Vegan religion and lifestyle this is more of an Esteem Need. However almond extract milk should fall directly in the Physiological Needs or bottom portion of Maslow's pyramid along with dairy milk, as it is a digestible product.

4. Draft a mission statement for your product and set three (3) specific applicable marketing goals which you would like to meet in your marketing strategy. The mission statement for almond extract milk would be "To raise cause awareness that supports a natural reoccurring life enhancement that awakens and renews our shared Earth". Three marketing goals would include. 1, indoctrination to product loyalty. 2, increase and acquire new customers. 3. Generate contempt in any use of animal products.