DQ1 Topic 1

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School

Grand Canyon University *

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510

Subject

Marketing

Date

Feb 20, 2024

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docx

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1

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When studying marketing, it is necessary to establish some terms and understand them simultaneously. In this case, a product, from a marketing point of view, is anything that is of value to a consumer and can be offered through a voluntary marketing exchange (Grewal et al., 2013). Another definition states it as a good, service, or idea consisting of tangible and intangible attributes that satisfy consumers' needs and is received and exchanged for money or something else of value (Kerin et al., 2012). The above definitions highlight two essential facts: firstly, providing a good or service that satisfies the consumer's needs and provides value for a specific segment. The other important part is making a voluntary market transaction. Of the cases of products that have failed, I can remember the case of the Delorean DMC-12, which started its process when John Delorean was still working for GM and had the concept of a compact car with high performance and efficiency. However, the others in GM did not think the same as him in the mid-'70s. Later, John Delorean left GM to start his company and manufacture his car with the help of Italdesign; many problems arose from design, engines, and the door's weight. This particular case caught my attention because nowadays, there is a Tesla model that has generated much speculation, its production has been postponed for three years, and what at its launch was something innovative, three years later, it is the standard and not the exception, in my opinion, these two models have encounter similar scenarios. The Delorean does not owe its failure to a single factor, such as its difficulties in design and production but also to the moment it was launched (Reynolds, 2022). On the other hand, one of the products that have had remarkable success is Nintendo, which in its beginnings launched its first game console in the early 80s under the name of Famicon, which was poorly accepted by the public after reorganizing and changing its name to Nintendo, it arrived in America just at the right time when Atari saw its decline and the new system conquered the public with the arrival of Mario and Luigi, becoming one of the most successful products to date (Patel, 2015). Refences: Grewal, D., & Levy, M. (2013). Marketing: Fourth Edition (4th ed.). McGraw-Hill Higher Education. ISBN.97800775661109 Kerin, R., Rudelius, W., Steffes, E., & Hartley, S. (2012). Marketing: The core (5th ed.). McGraw-Hill Education. Patel, S. (2015, January 16). Forbes. https://www.forbes.com/sites/sujanpatel/2015/01/16/8- successful-products-that-only-exist-because-of-failure/?sh=27c3b0d51c8c Reynolds, R. (2022, December 15). The real reason DeLorean failed spectacularly . History- Computer. https://history-computer.com/the-real-reason-delorean-failed-spectacularly/
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