Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

OPTION A - Please choose a name brand consumer product (good or service) and answer the following questions. What is the product? Fully describe it.

OPTION A - Please choose a name brand consumer product (good or service) and answer the following questions.

  1. What is the product? Fully describe it. You can use pictures and graphics in addition to your written description
  2. Who is the target market? Explain to me who you think the target market is.
  3. On what criteria is this market segmented?
  4. What demographic factors affected the choice of this target?
  5. What is the price strategy? Promotion strategy? Distribution strategy?
  6. How is the product packaged? Why?
  7. Who is the direct competition? Indirect competition? Which firms would be appropriate benchmarks for this firm? What competitive advantage does this product have?
  8. How are environmental factors affecting the marketing of this product? Consider social, demographic, legal, political, economic, technological, and competitive factors.
  9. Is the purchase of this product affected by psychological or social needs? Situational factors?
  10. Is the marketer attempting market penetration? Market development? Product development? Diversification?
  11. Does this company appear to have a total quality management orientation? What is its reputation on overall quality when compared to the competition?
  12. Is this firm known for being responsive to customers? Brainstorm a list of adjectives that describe this firm and its products. How does this list fit with the concept of value?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer

12th Edition

978-0073526706, 9780073526706

Students also viewed these General Management questions

Question

Was the researcher critically reflexive?

Answered: 1 week ago