Marketing Project
Even groups will turn in a paper following the Q& A format. Please copy the question in your report and then answer it using verified academic research. Odd groups will turn intheir presentation slides
1) Classification of products
a) Is your product a good, service or idea? You should use the goods-services continuum (Pg. 300) to help you classify the product.
b) In what category would you place your product: convenience, shopping, specialty or unsought?
2) Type of new product
a) How would you characterize your product when it was introduced in terms of its innovativeness?
b) How did the degree of innovativeness of the product impact how the product was first marketed?
c) Were there any problems with the introduction of your product?
3) Managing the product
a) Where is your product in terms of the product life cycle?
b) Use the graph on page 268 (Figure 11-2) to describe how the stage of the life cycle impacts your product in terms of marketing activity
c) Has your product been modified or repositioned to better serve customers? Did the company try to go after different customers by a modification of the product or a repositioning campaign?
d) Does your product have a brand personality? Describe it
e) How has your product created brand equity?
g) Describe your product's branding as well as any packaging issues that help/hinder their marketing
4) Pricing strategies
a) How is your product priced compared to the competition?
b) What type of pricing policy did your product use: penetration pricing, prestige pricing, odd even pricing, target pricing, standard markup pricing, etc.
c) What are your products points of differentiation or points of difference? How have these points of difference affected the price of the product compared to its competition?
5) Channels of distribution
a) How would you describe the distribution channel for your product (direct channel, type of indirect channel)?
b) Does your product have an electronic marketing channel? If so, describe it.
c) If your company has a dual distribution strategy, describe it.
d) Does your product exhibit intensive, exclusive or selective distribution? Describe why your product was classified in one of the categories above.
e) In terms of supply chains, how does your product get to its final customers?
6) Marketing communications/IMC
a) Describe the product's current Integrated Marketing Communications campaign
b) Does your product use a push or pull strategy...or both. Describe.
7) Promotion(30 points)
a) Provide at least 5 examples of promotion from the five promotional elements: advertising, pr, sales promotion, personal selling, direct marketing that your product uses.
b) Why is your product using these specific promotional strategies?
c) What, if any, emerging technologies is your product using to promote/communicate with customers?
d) What, if anything, should your product be doing differently in terms of promotion?