Ask Marketing Management Expert

Prepare as a word-processed document (such as Microsoft Word). Use 12-point font Times New Roman.  Use black ink for majority of your work and only use colors if it enhances your ability to communicate your thoughts. 

TOPIC: BUDLIGHT

Part 1 - Creating Offerings

Directions

  • Your job in this Writing Assignment is to develop marketing mix strategies to ensure a value offering for the target market you identified in the previous assignment. We begin with the value offering this week.
  • We don't expect you to develop strategies based on a total knowledge of the product or service since you are not, or most likely not, employed by your product or service's company. We will be looking to see if you can apply the marketing concepts to the real world situation.
  • Again, do not fall into the trap of reporting on the product or service. This is obvious because your assignment will look like a rewrite of the company's website. Don't be afraid to make strategy recommendations based on what you have discovered about the product or service, and how you think it can move forward. Be creative, be reasoned, take risks.
  • Remember your product's target market(s) from the previous paper. Always keep them in mind when making your recommendations. You now work for the company, and your goal it to help them grow sales.
  • Prepare your assignment beginning with a title page including your name, your product or service, and the name of your target market. Then answer each of the following four questions in order and number the beginning of each question.

Questions -

1. Offering.  Describe your product or service offering as it is currently in terms of features and benefits, price and the total cost of ownership as discussed in the week's readings.  Is it more product dominant or service dominant?  What are the tangible and intangible aspects?

2. Type of consumer offering.  Based on the four categories of type of offerings discussed in course content, describe the category in which your product or service offering belongs.  Based on your new target market, would that category of the offering change and if so, how?  How would it change the marketing strategy? 

3. Product line extensions or new product development.  Should the current product or service be modified to more fully meet the needs of your new target market?  Would the changes constitute a new product line, a product line extension or a new product?  If no product changes are needed, how does the same product or service meet the need of your target market differently than current customers?  Would the product line extension or new product allow the offering to occupy uncontested space in the perceptual map for the target market as covered in thr previous paper?

4. Product lifecycle.  In which stage of the product lifecycle is your product or service offering now? Would the changes described in number 3 above change the lifecycle stage and if so how?  What would this mean to the lifecycle marketing strategy? 

Part 2 - Using Marketing Channels and Price to Create Value for Customers

Directions

  • This part of the assignment assesses your ability to relate marketing mix concepts of distribution and pricing to your product or service offering. You will also have a chance to recommend new distribution and pricing strategies based on your new target market to meet their needs.

Questions

1. Marketing channels.  To the best of your ability, outline the marketing channels of your product or service offering as they currently exist.  Refer to Figure 6.2 for some ideas.  Most product and service offerings will have more than one channel, so your system should include at least two; for example (1)  a direct channel for internet sales:  manufacturer --> customer; and  (2) an indirect channel such as manufacturer --> distributor --> wholesaler --> retailer --> customer. If your product or service only has only a direct channel, explain why.  Would this channel strategy change as a result of your new target market?  Why or why not?

2. Marketing channel strategy.  Why type of distribution intensity strategy does your product or service currently use?  How do you know this?  Would this distribution intensity strategy change for your new target market? Why or why not?

3. Value chain.  Referring back to your marketing channel diagram, discuss what each member of the value chain does to bring value to the consumer. 

4. Pricing strategy.  Referring to the various pricing strategies outlined in the week's readings, which one does your product or service currently use?  Would you recommend any changes for your new target market?  If so, how would you change it and why?

Attachment:- Assignment.rar

Marketing Management, Management Studies

  • Category:- Marketing Management
  • Reference No.:- M92226763
  • Price:- $50

Priced at Now at $50, Verified Solution

Have any Question?


Related Questions in Marketing Management

Question 1 application of conceptstime value of money2

Question: 1. Application of concepts/time value of money? 2. Which is more detrimental to a firm, pricing your product or service too high, or pricing your product or service too low? 3. Discuss the role of demographics ...

Question imagine that you are in the market for a new

Question: Imagine that you are in the market for a new career. How can the marketing research process apply to your career search? Think of a specific topic you need to learn more about that relates to your career as a o ...

Question strategic marketing planintroductionthis

Question: STRATEGIC MARKETING PLAN INTRODUCTION This assignment entails development of a comprehensive strategic marketing plan for a new product or service that is ready to "go to market". A Project Template is provided ...

Qestion ready set strive gen z is comingby janet adamy

Question: Ready, Set, Strive : Gen Z Is Coming By Janet Adamy | Sep 07, 2018 TOPICS: Consumer Behavior, External Marketing Environment, Targeting SUMMARY: About 17 million members of Generation Z are now adults and start ...

Question in your marketing plan you should1establish a

Question: In your Marketing Plan, you should: 1. Establish a Mission Statement and a Vision Statement for your new organization. 2. Briefly describe basic services it has been providing during the first six months of ope ...

Question 1review the terminal course objectives accessed by

Question: 1. Review the Terminal Course Objectives, accessed by clicking on the "Course Information" tab at the top of your screen, scrolling down to the "Course Objectives" and then selecting View class objectives. How ...

Question read the worddoc first and answer those following

Question: Read the word.doc first and answer those following question 1. Provide a list of at least five pieces of information that airlines have about their customers, and for each, explain how that information might he ...

In this unit you are asked to produce a public relations

In this unit you are asked to produce a Public Relations Campaign Proposal document and an essay that explains the theory behind your planned approach to the Proposal task. You may base your assessment on the suggested s ...

Question 1200 words on your favorite retailer and their

Question: 1200 words on your favorite retailer and their major competitor as discussed in class. This should focus on the different elements that make up the retail strategy of the companies and other factors that appeal ...

Question bulltype of paper assignmentbullsubject

Question: • Type of paper Assignment • Subject Other • Number of pages 1 • Format of citation Other • Number of cited resource s0 • Type of service Writing from scratch First, choose a piece of art from any genre (music, ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As