Concept explainers
Case summary:
Company GP is a manufacturer of the action cameras and the software that is utilized for video editing. The product line of the of the company includes various cameras, apparels, mounts, a drone, and a 360 degree six camera array that is sold through numerous retailers like Retailer BB, Retailer R, Retailer T, and on the website of Company GP. The founder of the company is Person NW was inspired from his interest on taking photos and his passion towards surfing.
Characters in the case:
- Company GP
- Person NW
- Retailer BB
- Retailer R
- Retailer T
Introduction:
A product is a service or physical item that can be offered or made to a customer in order to satisfy their wants and needs. A company gets new products in two ways. One is acquisition and another one is developing a new product.
To determine: The point of indifference or the specific attributes for the products of Company GP.
Want to see the full answer?
Check out a sample textbook solutionChapter 10 Solutions
Marketing
- the Kate Spade commercial. This commercial enabled consumers to live out one of their fantasies. I think many people dream of living in a big city such as New York City, but due to logistics, for many of us that does not happen. This commercial helped the viewer understand what that experience would be like and creatively connects it to Kate Spade. Now, consumers will associate the city lifestyle with Kate Spade. This appeals to psychographics. Godin discusses that marketers should step away from demographic information and, instead, focus on information such as motivators, dreams, and values (Behind the Brand, 2018). Successful brand narratives do this very well. I discussed the LEGO Group in my post, and I think they also build on dreams and values; they appeal to a customer's dream to build the impossible and use their creativity (LEGO Group, 2020). In turn, when we think of these brands, we automatically feel these positive emotions. Do you think every company should use the…arrow_forwardYamang Bukid Healthy Products, Inc. (YBHPI) was born from a simple dream of its originators of doing business in food supplements using indigenous organic products that have been proven to work wonders for people’s health and well-being. Who is your target audience (in terms of population, demographics, income levels and so on)?arrow_forward“Not every brand is created equal. Among our close to 300 products, flagship product San MiguelBeer stands a head above the rest- its appeal to beer lovers having endured over 110 years. AlthoughSMB is probably the best example of a brand that transcends generations despite shifting consumertastes, it has never been our intent to be a one-brand company.“Expanding our product portfolio – either through new product development or acquisitions – is acornerstone of San Miguel’s growth strategy. In 2001, we intend to dram up new products and getthem on the shelf faster. We’re inspired by the success of Ponkana, a powdered juice brand ofSugarland Beverage Corporation, which found its way to the market a mere three months after it wasconceptualized.“We will continue to develop new products that anticipate and fulfill our consumes’ diverse needs.” Question: Why is “San Miguel ” a brand that transcends generations?arrow_forward
- What pitfalls might be associated with big-ife, especially in places that offer "boutique" appeal?arrow_forwardShould Tana, a young entrepreneur who is launching a new line ofenvironmentally friendly (green) cosmetics, sell through a physicalstore, catalog, or Internet? Explain two key benefits of each channel forher business.arrow_forwardWhat are the benefits of content-based marketing for a beauty brand like L’Oreal ? do you think L’Oreal is right in completely integration its traditional and digital media?arrow_forward
- Hooray! You just started a new position managing the marketing strategy for a bespoke fanny pack designer in Brooklyn. The new brand is called DonkSaks and they're launching with a pop up in Fort Greene but will then sell primarily online via their own website. Explain the steps you will take to create an online marketing strategy for DonkSaks.arrow_forwardThis week's post is focussed on one of the most critical functions in building generic products into megabrands such as toyota, yamaha, coca-cola, pirelli, casio, panasonic, mobil, and marlboro among others that have outlived generations of consumers. We shall be searching and sharing the hidden secrets and rationale for their perceived success stories.arrow_forwardIt's time to rethink tourism marketing in a pandemic world By Xinyi Liang -Pholsena | Aug 31, 2020 "........The crisis created by the coronavirus pandemic hit the travel industry especially hard. With travel at a near standstill, tourism offices should temporarily put destination promotion on the back burner and instead put a focus about communicating the crisis to the global travel audience. That was among the key recommendations put forth by several travel industry experts who spoke during the recent Virtual Destination Mekong Summit, which was organised by the Mekong Tourism Coordinating Office. Amid the widespread uncertainties that the pandemic has wrought across the travel industry, destination managers should always lead their communications with accurate and timely information, advised Sinisa Topalovic, global head of tourism, Horwath HTL. Important areas that tourism organisations should address include the epidemiological situation of the destination, when the…arrow_forward
- Imagine that as a part of your assessment in the course the lecturer asked you to conduct a social activity event. The activity aims to create awareness regards early breast cancer testing with the coordination of the Oman Cancer Association. Identify as a student how you will apply the 6 Ps of the marketing mix to set up such a kind of event?arrow_forwardHow would your marketing strategies differ if you owned a B2B company versus owning a B2C company? Why is it necessary to follow the 7 step B2B buying process as it pertains to major acquisitions? Are there any examples that you can find on the web that provide examples of a time when perhaps companies didn't follow these steps?arrow_forwardevaluate the effectiveness of DeBeers' marketing strategies and positioning. Identify factors that contribute to its success as well as areas where there is room for improvement. Recommend strategies for enhancing DeBeers' market presence and addressing challenges, including innovative marketing approaches, potential new market segments, and emerging trends. Simply put, what did they do well, where did they fall short, why did these things happen, and what would you recommend for the future?arrow_forward