GMU Marketing Plan Part 3 Template Completed
.docx
keyboard_arrow_up
School
Northern Virginia Community College *
*We aren’t endorsed by this school
Course
MISC
Subject
Marketing
Date
Feb 20, 2024
Type
docx
Pages
4
Uploaded by rognewp82
Product Marketing Plan
Part 3
Marketing Research
COMPANY NAME
HID Global
PORTER’S FIVE FORCES MODEL
COMPETITIVE RIVALRY
This is a difficult question to answer, as HID Global has many different business units within the organization, so there are different competitors within each BU. Focusing on the Intelligent Patient Visitor Management (IPVM) solution, there is no one true competitor from a total solution standpoint. We do compete with Stopware and their PassagePoint Global solution, as well as FAST-PASS 7 by SISCO due to pricing. THREAT OF NEW ENTRANTS
This isn’t a solution that can be created overnight, so it is not that easy for a competitor to enter the market. THREAT OF SUBSTITUES
As I mentioned before, there is no other option from a solution standpoint. But if someone is looking to replace due to cost, it would not be an easy task. It could mean a complete overall of a hospital’s physical security system in certain cases. BUYER POWER
With the IPVM, there is only one or 2 sets of buyers, and not a lot of credible options to choose from. They do not hold much buying power, and they understand that it is not a cheap solution from the beginning. We do have flexibility with the solution in order to play within someone’s budgeting confines, as one can purchase a base solution and build/expand from there.
Product Marketing Plan
Part 3
SUPPLIER POWER
Once again, from a purse solution standpoint, there are not many suppliers out there and can offer a full
visitor management solution the way HID Global can. It is not very easy to switch. MARKETING PLAN RESEARCH EVALUATION
MARKETING RESEARCH VALUE
Why is market research important? In order to affectively market a product, and organization has to understand who they are marketing to within a certain city, region, country, etc. While one marketing campaign could do well in the US, the same campaign can tank an organization in China. So it is always important to conduct market research prior to any business efforts. EVALUATION
How will the marketing plan be evaluated for effectiveness? According to Leadspace, the marketing effectiveness is “measured by short-term and long-term revenue generated by a campaign and by how well the company’s costs of customer acquisition are lowered during that campaign”
i
, so those would be my benchmarks. TYPES OF MARKET RESEARCH
In paragraph format, provide two types of quantitative and qualitative research to benefit the company’s marketing plan. QUANTITATIVE RESEARCH
2 tools I would use would be customer questionnaires and surveys. The goal of each research is the same, and that is to collect data from both customers and prospects to see what they like to buy and how they like to buy it. This information is vital in both product planning and marketing planning.
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
Related Questions
5. Direct-to-consumer
businesses have had
mixed success. That is, while the model
has succeeded in some categories, it has
not worked in others. Can you identify
reasons why? Which product categories
may be more suited for direct-to-consumer
business model?
arrow_forward
Review the New Product Development Processes described by Nike and Shopify.
Nike
Shopify
Question response:
Comparing the various new product development processes, outlined in these notes, by Nike, and by
Shopify, respond in the box below with an approximate 200-word analysis of the different new product
approaches presented. Potential prompts for your response include:
What critical element of the marketing process had you not considered before?
What elements appear most critical to you? Why?
How do you see these approaches differ, if at all, for products vs. services?
Looking at other companies, beyond Nike and Shopify, what other approaches do you see other
companies using to support the new product or service development?
arrow_forward
Extra Tutorial :
During COVID19 pandemic, many new Al application or devices are developed to help in curbing and
reducing the spreading of the virus.
Name ONE apps and discuss the following :
Name of apps or device / developed by?
Type of outcomes
Technology use
Available in which platform ?
Biz2Cons or Biz2Biz approach?
arrow_forward
From Jetblue practices, identify the following questions:Analyze Jetblue integrated marketing practices to achieve customer delight?2. Analyze Jetblue marketing strategy; identifying different level of segmentation, targeting strategy and positioning one as well. Highlighting its positioning from its customer WOM.3. What are Jetblue pricing strategies? In what way it works in alignment with Jetblue competitive marketing strategy. 4. Analyze Jetblue promotion strategy, identifying which promotion mix elements Jetblue uses intensively.5. Identifying the company competitive edge on different levels and its market offering?
arrow_forward
If you were advising Hilton Hotels, what three main approaches would you suggest to rectify any weaknesses in this company's customer value proposition?
Analyze a company (real) that is at a cost disadvantage compared to its rivals. What strategic moves should this company undertake to restore cost parity?
arrow_forward
As a marketing team at your company, you have been given the opportunity to attend two virtual seminars with experts commenting on how COV19 has shaped the future of customer relationship management and sales and marketing. Your team has been asked to highlight at least four key points from these virtual seminars that can support sales, marketing and customer relationship management for the arm of their retail banking unit based in the Caribbean, along with three strategies to build client relationships and revenue over the next 2-3 years
arrow_forward
Now suppose that over lunch the marketing vice president says to Jacob:
“We’re feeling a lot of heat from Chinese manufacturers who are offering very similar clubs to ours but at significantly lower prices. The legal department is working on a patent infringement case, but if we cant block these clubs from entering the market, I expect to see our sales flatten, and maybe even fall, over the rest of the year.”
What questions should Jacob ask? How would the answers to this affect the forecast? Does it still make sense to use quantitative forecasting under these circumstances? Why?
arrow_forward
If you were advising Hilton Hotels, what three main approaches would you suggest to rectify any weaknesses in this company's customer value proposition?
Analyze a company (real or fictional) that is at a cost disadvantage compared to its rivals. What strategic moves should this company undertake to restore cost parity?
arrow_forward
What is the Boston Consulting Group’s Growth-Share-Matrix (BCG-GSM)
arrow_forward
As part of a PR campaign for The shoe rack, Conduct a situation analysis(SWOT) based on the scenario given.
Incorporate the smart watch(S-Tech intel smart watch) in your answer
arrow_forward
What is the nature of telecommunications industry? How do the market players compete? How did they compete? Loyalty scheme or price war? How was the price war? How as the loyalty scheme? Did they ever collude? Was it tacit/open? What was government’s decision/action? Max 750 words. Include minimum 5 independent and verifiable citation. Make solid introduction and conclusion
arrow_forward
For the attached two ads for job positions, describe what leadership competencies are mentioned in these ads? If you were on the selection panel, what methods would you use to identify these competencies in job applicants?
arrow_forward
CB Assignment 5 (Consumer Decision Making)
After watching the Consumer Decision Making Presentation, complete the
following spread sheet and indicate which brand is most likely to be selected
for each of the approaches below.
Smart Phones for Smart Phone Attitudes
Product
Attributes
Price
Good Reception
Screen Size
Camera Quality
Weight
Conjunctive:
Product
Attributes
For Conjunctive use a cutoff rating of 4.
For Disjunctive use a cutoff rating of 10.
Price
Good Reception
Screen Size
Camera Quality
Weight
Brand Selected=
Disjunctive:
Product
Attributes
Price
Good Reception
Screen Size
Importance
Rating
35
25
20
10
10
Camera Quality
Weight
Brand Selected=
A
6
8
8
4
6
35
25
20
10
10
Brand Scores
B
с
8
7
6
5
A
9
2
7
Minimum Rating =4 (on all attributes)
Importance
Ra
10
6
3
Brand Scores
Rating of 10 on ANY attribute
Importance
Rating
35
25
20
10
10
Brand Scores
C
A B
D
5
6
8
2
4
D
D
Lexicographic: Select Best Performer for Most Important Attribute
arrow_forward
Industry Situation and Company Plans: Starhub Ltd
1. What is the situation of the industry in which this company functions? What does this Company's future look like? (Minimum 200 words | Maximum 300 words)
2. Walk us through the company's products and services. Do you think these products and services will be capable to keep this company be successful in the new normal? (Minimum 200 words | Maximum 300 words)
arrow_forward
How might a planner decide on competitive growth strategies using tools such as the market growth/market share matrix (Figure 2.3) and product-market matrix (Figure 2.4)?
arrow_forward
Doing Marketing - Brands and Branding
Insights
Definition: What Is Brand Equity? Definition and Importance
Read more on Interbrand: Best Global Brands 2022
Read more: Top 100 Global Brands
Introduction to assignment: Measuring brand value is a complicated process. Different firms use different methods to measure brand equity. The top 100 brands as reported by Kantar are different than the top 100 brands measured by Interbrand because they use different formulas for calculating brand equity.
a .How does Interbrand measure brand value? See the applications and methodology section on Interbrand’s website.
b.Choose two of your favorite brands of the top 100 brands from the current year on Interbrand. How have the brand rankings changed over the past 10 years or so?
c.Using the two brands from the previous question, what do you believe is driving their success, failure, and/or stagnation?
arrow_forward
Don't use Ai and chatgpt.
Answer in step by step with explanation.
arrow_forward
Identify the marketing problem identified
arrow_forward
Shortly describe competitive profile matrix of PIA and Airblue ?
arrow_forward
What are the key problems that BreadTalk faces?
Hints: - The key problems may be categorized into industry- and company-level factors in both markets
arrow_forward
Answer D to F
arrow_forward
Gateway has just introduced a new notebook PC. As the manager responsible for this product, how would you assess its success? Why do you believe these issues are important?
arrow_forward
Need help with Part 1 through 3
arrow_forward
Suppose you have been hired as a marketer by an onlineretailer, such as Wayfair or Amazon, to help develop a newmarketing mix. State one thing you would do to improve theretailer’s position through each of the four strategic elements:product, distribution, promotion, and pricing.
arrow_forward
Customer relationship management is one of the most important marketing concepts. It is commonly known as CRM by its acronym in English: customer relationship management. This management's most relevant element is creating more value and generating more satisfaction than the competition. In a broader sense, customer relationship management refers to building and maintaining profitable customer relationships by delivering services of superior quality, value, and satisfaction.
Question:
Is CRM only for large corporations? Why or why not?
arrow_forward
Covid-19 has disrupted normal work lives and has challenged our economic functionality. Businesses were affected in eclectic ways, and it was important to ensure that the customer experience and engagement was not compromised in such an unprecedented situation. Some insights of how the impact of COVID -19 was handled with the help of CRM.
A. IVR and Mass Mailing: Customer Relationship Management software integration with an IVR application effectively supported both pre and post sales aspects. Mass mailing with the help of Groups from CRM enabled sending newsletters, product and service announcements and marketing messages with ease.
B. Adjusted for relationship marketing - focused on human interactions: During this global crisis, marketing teams showed empathy towards customers. Instead of mass messaging personal connections were created, not because it berlafited the business but because it is what customers needed. Customer segments were created and communicated based on their…
arrow_forward
SEE MORE QUESTIONS
Recommended textbooks for you
Principles Of Marketing
Marketing
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Pearson Higher Education,
Marketing
Marketing
ISBN:9781259924040
Author:Roger A. Kerin, Steven W. Hartley
Publisher:McGraw-Hill Education
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Marketing: An Introduction (13th Edition)
Marketing
ISBN:9780134149530
Author:Gary Armstrong, Philip Kotler
Publisher:PEARSON
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning
Related Questions
- 5. Direct-to-consumer businesses have had mixed success. That is, while the model has succeeded in some categories, it has not worked in others. Can you identify reasons why? Which product categories may be more suited for direct-to-consumer business model?arrow_forwardReview the New Product Development Processes described by Nike and Shopify. Nike Shopify Question response: Comparing the various new product development processes, outlined in these notes, by Nike, and by Shopify, respond in the box below with an approximate 200-word analysis of the different new product approaches presented. Potential prompts for your response include: What critical element of the marketing process had you not considered before? What elements appear most critical to you? Why? How do you see these approaches differ, if at all, for products vs. services? Looking at other companies, beyond Nike and Shopify, what other approaches do you see other companies using to support the new product or service development?arrow_forwardExtra Tutorial : During COVID19 pandemic, many new Al application or devices are developed to help in curbing and reducing the spreading of the virus. Name ONE apps and discuss the following : Name of apps or device / developed by? Type of outcomes Technology use Available in which platform ? Biz2Cons or Biz2Biz approach?arrow_forward
- From Jetblue practices, identify the following questions:Analyze Jetblue integrated marketing practices to achieve customer delight?2. Analyze Jetblue marketing strategy; identifying different level of segmentation, targeting strategy and positioning one as well. Highlighting its positioning from its customer WOM.3. What are Jetblue pricing strategies? In what way it works in alignment with Jetblue competitive marketing strategy. 4. Analyze Jetblue promotion strategy, identifying which promotion mix elements Jetblue uses intensively.5. Identifying the company competitive edge on different levels and its market offering?arrow_forwardIf you were advising Hilton Hotels, what three main approaches would you suggest to rectify any weaknesses in this company's customer value proposition? Analyze a company (real) that is at a cost disadvantage compared to its rivals. What strategic moves should this company undertake to restore cost parity?arrow_forwardAs a marketing team at your company, you have been given the opportunity to attend two virtual seminars with experts commenting on how COV19 has shaped the future of customer relationship management and sales and marketing. Your team has been asked to highlight at least four key points from these virtual seminars that can support sales, marketing and customer relationship management for the arm of their retail banking unit based in the Caribbean, along with three strategies to build client relationships and revenue over the next 2-3 yearsarrow_forward
- Now suppose that over lunch the marketing vice president says to Jacob: “We’re feeling a lot of heat from Chinese manufacturers who are offering very similar clubs to ours but at significantly lower prices. The legal department is working on a patent infringement case, but if we cant block these clubs from entering the market, I expect to see our sales flatten, and maybe even fall, over the rest of the year.” What questions should Jacob ask? How would the answers to this affect the forecast? Does it still make sense to use quantitative forecasting under these circumstances? Why?arrow_forwardIf you were advising Hilton Hotels, what three main approaches would you suggest to rectify any weaknesses in this company's customer value proposition? Analyze a company (real or fictional) that is at a cost disadvantage compared to its rivals. What strategic moves should this company undertake to restore cost parity?arrow_forwardWhat is the Boston Consulting Group’s Growth-Share-Matrix (BCG-GSM)arrow_forward
- As part of a PR campaign for The shoe rack, Conduct a situation analysis(SWOT) based on the scenario given. Incorporate the smart watch(S-Tech intel smart watch) in your answerarrow_forwardWhat is the nature of telecommunications industry? How do the market players compete? How did they compete? Loyalty scheme or price war? How was the price war? How as the loyalty scheme? Did they ever collude? Was it tacit/open? What was government’s decision/action? Max 750 words. Include minimum 5 independent and verifiable citation. Make solid introduction and conclusionarrow_forwardFor the attached two ads for job positions, describe what leadership competencies are mentioned in these ads? If you were on the selection panel, what methods would you use to identify these competencies in job applicants?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Principles Of MarketingMarketingISBN:9780134492513Author:Kotler, Philip, Armstrong, Gary (gary M.)Publisher:Pearson Higher Education,MarketingMarketingISBN:9781259924040Author:Roger A. Kerin, Steven W. HartleyPublisher:McGraw-Hill EducationFoundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
- Marketing: An Introduction (13th Edition)MarketingISBN:9780134149530Author:Gary Armstrong, Philip KotlerPublisher:PEARSONContemporary MarketingMarketingISBN:9780357033777Author:Louis E. Boone, David L. KurtzPublisher:Cengage Learning
Principles Of Marketing
Marketing
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Pearson Higher Education,
Marketing
Marketing
ISBN:9781259924040
Author:Roger A. Kerin, Steven W. Hartley
Publisher:McGraw-Hill Education
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Marketing: An Introduction (13th Edition)
Marketing
ISBN:9780134149530
Author:Gary Armstrong, Philip Kotler
Publisher:PEARSON
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning