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Step by step
Solved in 4 steps
- develop a marketing plan, Description of the Product: What exactly is the product? What are the features and how do these benefit consumers? Target Market for the Product: Which group of consumers is the product targeted to? Comprehensive Description of the Marketing Mix for the Product. This should be a fulsome description of how you will address the 4 P’s (product, promotion, pricing and place) for your product. Conclusion: What benefits does this product offer consumers and makes it unique or superior to other similar products on the market, and that is it likely to make it successful?Create your own brand. State what product/ service you want to sell in the market and why you think this product would be purchased by the consumers. Who are your rivals and What different do you have to offer to the consumers? Now, choose 2-3 elements from the brand elements mix and state the reason why you choose them and how those elements would work for your company. (For eg: if you are choosing a brand logo, create a logo for your brand, if choosing a brand name, create a name for your brand, etc.?If you will sell a product, what would it be and why? Give an example of the features/ benefits.
- How will you apply the concept of value proposition and unique selling proposition in your product/service? Cite waysIs it possible to launch a successful product without having tomake a business plan for it?List the 4 elements of the marketing mix. As an entrepreneur, you are introducing a new chocolate yogurt. Demonstrate the application of the marketing mix for the new product you are selling.
- You are the marketing manager for Lenovo Computers. You want to develop a new light-weight, slimmer, faster, with longer battery life laptop for student use. You think this is a great idea as all the students you've talked with and heard from want more power but easier to carry around. Your boss wants proof of success potential. What kind of information from outside the company would be important to help in the design and sale of this laptop? What information from inside the company would be important? What kind of secondary research would you conduct? What kind of primary research?Imagine you are in a marketing role and you have been asked to launch a new product called TRYP (a new range of boutique hotels). What would consider to be 4 important points that will ensure customer acceptance of this brand name?Determine the marketing concept for two products below. For doing so, you have to find the following: Objective of the business: A Features of the product: Benefits of the product: Target segment of consumers: Type of marketing management orientation Objective of the business: DON'T TALK ÜF LOVE & PEACE Features of the product: Benefits of the product: WHEN YOU HAVE A DEAD ANIMAL ON YOUR PLATE Target segment of consumers: Type of marketing management orientation
- Read the following article. It discusses the critical marketing difference between features and benefits of a product. https://www.entrepreneurship.org/articles/2007/01/productservice-features-and-benefits 1. In your own words, describe the difference between a feature of a product and the benefit which a customer gets from a product. 2. Considering paint used by a homeowner: 1. Please describe 4 paint features you have found from looking at paint websites. 2. Please describe three benefits which are delivered by one of, or a combination of the features you described.1) Would you purchase a hybrid food product that mixes plant-based meat with real animal products? Why/why not? 2) Propose a new food product that contains a mix of plant-based meat ingredients and real animal products Describe your product idea in detail. What is it? How is it eaten? What ingredients would your idea contain? Why do you think it would be popular?Select a product with which you are familiar (Please do not use any APPLE products). Based on your knowledge of the product lifecycle, what types of changes will occur to your selected product? How will this affect the marketing of your selected product?