LaTasha Davis 08 marketing management
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Apr 3, 2024
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LaTasha Davis
Student ID# AC2305069
Marketing Management
Module 08
Part A: with products, is it form or function?
When it comes to the key to a product success, is it really about form or function? Well, marketers have been debating this for a while, and both sides have case studies to back up their claims that either product functionality or product design are essential to a brand's success. I strongly believe that product functionality is the key to brand success rather than product design. We all have needs to fulfill, we are all consumers.
Functionality of a product is an element that should never be absent in anything that is sold in the market. This is extremely clear from the way consumers behave,
who will instantly request a replacement or product servicing for any recently purchased broken or defective items. Part B: Is the right price a fair price?
One of the factors influencing A consumers purchasing behavior is pricing. This is due to the fact that everyone must prioritize our spending choices due to budget constraints. We are all advised to be sensible consumers and only purchase what we need in order to stay within our financial means. The question of whether prices should reflect the value that consumers are willing to pay or if prices should
primarily just reflect the cost involved in making a product or service comes into picture. This raises a number of concerns, including the isolation of many customers who fall into the lower income category. As a result, only the wealthy can afford their items, allowing them to disregard the ramifications of their unfair pricing wow the poor are severely impacted. I would suggest that unfair pricing, also known as right pricing, is something that all businesses should follow, especially because it benefits both the company and the customers.
References:
Keller, Phillip T. Kotler, Kevin L. Marketing management. Available from: viral source bookshelf, (15
th
Edition). Pearson Learning Solutions, 2017.
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Related Questions
With Products, Is It Form or Function?
Some marketers believe that product performance (function) is the main attribute of a product. Other marketers maintain that the look, feel, and other design elements (form) of products are what really sway the customer’s decision.
Take a position on the ‘form vs function’ debate, i.e. How would you argue that Product Performance is the key to brand success OR how would you argure that Product Aesthetics are the key to brand success.
Answer in less than 250 words
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Some marketers believe that product performance (function) is the main attribute of a product. Other marketers maintain that the look, feel, and other design elements (form) of products are what really sway the customer’s decision.
Take a position on the ‘form vs function’ debate, i.e. How would you argue that Product Performance is the key to brand success OR how would you argure that Product Aesthetics are the key to brand success.
arrow_forward
Why is quality such an imponant product strategy objective? What are the dimensions of product quality?How has e-commerce affected the need for qualityproduct objectives?
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Critical Thinking Brand equity means that a brand enjoys customer loyalty, perceived quality, and brandname awareness. To what brands are you personally loyal? What is it about the product that creates brandloyalty and, thus, brand equity?
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Some marketers believe that product performance is the be all and end all. Other marketers maintain that the looks, feel, and other design elements of products are what really make the difference. So in this opinion what do you think is suitable a product functionality is the key to brand success or product design is the key to brand success.
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The decline stage of the product life cycle (PLC) has its own
special challenges for marketers. Briefly define the five
strategies that a marketer can use for rejuvenating a declining
product. What determines which strategy should be
implemented? Please give examples.
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Design your product and provide it a name and a description and visual/picture of it (this can be your own drawing or an image from the internet with your brand/logo assigned to the image). Justify your choice by explaining in detail the reasons why you select your product (i.e. is there a demand for it? will it solve any social, environmental or financial issues? etc.). What is your vision for the selected product
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develop a marketing plan,
Description of the Product: What exactly is the product? What are the features and how do these benefit consumers?
Target Market for the Product: Which group of consumers is the product targeted to?
Comprehensive Description of the Marketing Mix for the Product. This should be a fulsome description of how you will address the 4 P’s (product, promotion, pricing and place) for your product.
Conclusion: What benefits does this product offer consumers and makes it unique or superior to other similar products on the market, and that is it likely to make it successful?
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List ten (10) of you favorite brand names. What do you like about the product
and/or brand name? What do you dislike? What image does the brand have in your
mind? How loyal are you toward the brand?
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Assume that you are working as a brand manager in a company. Your company is going to create a new product and senior management expects from you to create new brand for this new product. “How do you “brand” the product?” and “What makes the brand strong?”. Please answer these two questions by taking challenges and opportunities for the brands nowadays into account.
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'Brand parity' has become a major issue for companies.
Identify three product categories in which a brand purchase is not very important. Why is the brand not important? Food, gas, and medicine
Identify three product categories in which the brand is important. What brand or brands do you typically purchase in each category? Why? (Discuss phones (apple), cars (toyota), tools (black and decker)
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How should the organization differentiate its products? What are the product’s features, advantages, and benefits? Assess the extent to which the brand’s current positioning aligns with the product’s points of differentiation.
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Please read the following paragraph:
Brand loyalty is regarded as an important indicator of success in the marketplace for nearly a century. Businesses enjoy several benefits through loyalty, such as reduced marketing costs and less price sensitivity, which provide the organization with a significant competitive advantage. Behavioural, attitudinal and mixed measures frequently identify positive feelings and satisfaction as prominent antecedents of brand loyalty. Consumer with these positive feelings may come together and form brand communities and act as an advocate for the brand. The reasons behind this behaviour (forming a brand community) are seldomly discussed in previous literature. Therefore, this study tries to investigate the reasons of forming a brand community (coming together with other consumers of the brand).
Question : Please indicate your data collection method (qualitative or quantitative, first, and if you select qualitative please state which method you prefer), and…
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Please read the following paragraph:
Brand loyalty is regarded as an important indicator of success in the marketplace for nearly a century. Businesses enjoy several benefits through loyalty, such as reduced marketing costs and less price sensitivity, which provide the organization with a significant competitive advantage. Behavioural, attitudinal and mixed measures frequently identify positive feelings and satisfaction as prominent antecedents of brand loyalty. Consumer with these positive feelings may come together and form brand communities and act as an advocate for the brand. The reasons behind this behaviour (forming a brand community) are seldomly discussed in previous literature. Therefore, this study tries to investigate the reasons of forming a brand community (coming together with other consumers of the brand).
Question : Please indicate which of the sampling techniques would you prefer and please state your reason.
arrow_forward
Please read the following paragraph:
Brand loyalty is regarded as an important indicator of success in the marketplace for nearly a century. Businesses enjoy several benefits through loyalty, such as reduced marketing costs and less price sensitivity, which provide the organization with a significant competitive advantage. Behavioural, attitudinal and mixed measures frequently identify positive feelings and satisfaction as prominent antecedents of brand loyalty. Consumer with these positive feelings may come together and form brand communities and act as an advocate for the brand. The reasons behind this behaviour (forming a brand community) are seldomly discussed in previous literature. Therefore, this study tries to investigate the reasons of forming a brand community (coming together with other consumers of the brand).
Question : Please write two research questions for this problem . Please indicate which research design (exploratory, descriptive or causal) would you prefer to use for…
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If you will sell a product, what would it be and why? Give an example of the features/ benefits.
arrow_forward
In this module, the product life cycle was defined as a concept that explains how products go through four distinct
stages from birth to death including: introduction, growth, maturity, and decline. Each stage is actually based on the
market's response to the product. This dynamic causes firms to adjust their marketing strategies so that they are in
alignment with the current stage.
For this discussion, review the Product Life Cycle Strategies on pg. 304 in your text and respond to each prompt.
Identify one product for each stage in the product life cycle (i.e., four different products) and explain how each product
fits in its particular stage, as noted.
• For the product you identified in the introduction stage, tell us what strategies you would use to launch
this new product.
For the product you identified in the growth stage indicate what strategy would be necessary to
maintain brand loyalty as competitors now are entering the market.
For the product you identified in the maturity…
arrow_forward
solve only part B max in 30 minutes thank u
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compare and contrast user-experience (UX) focused design and responsive Web design (RWD) and they role in the customer experience.
Explain and describe a digital value proposition and provide an example of one that can be developed for a university.
Briefly list and describe 4 of the seven elements of the digital marketing mix. Why is this framework used?
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What value(s) is/are promised in the value proposition in Fig. 3.1?
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Imagine you are in a marketing role and you have been asked to launch a new product called TRYP (a new range of boutique hotels). What would consider to be 4 important points that will ensure customer acceptance of this brand name?
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Brand: Dunkin Donuts
Describe what differentiates it from the competition. You may select an attribute important to the consumers (you are considered as their customer) and explain why you use this product or avail this service.
Describe a main target market and discuss why they are the appropriate segment to target.
Share what you think is the value proposition of your chosen product or service.
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Please do not give solution in image formate thanku
choosen product acer laptop:
Propose three strategic recommendations to address previously identified weak alignment OR ways to strengthen the strong alignment. You must incorporate recent scholarly literature to justify your proposed recommendations. These recommendations should not include pricing, quality, manufacturing, or operational improvements
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Related Questions
- With Products, Is It Form or Function? Some marketers believe that product performance (function) is the main attribute of a product. Other marketers maintain that the look, feel, and other design elements (form) of products are what really sway the customer’s decision. Take a position on the ‘form vs function’ debate, i.e. How would you argue that Product Performance is the key to brand success OR how would you argure that Product Aesthetics are the key to brand success. Answer in less than 250 wordsarrow_forwardSome marketers believe that product performance (function) is the main attribute of a product. Other marketers maintain that the look, feel, and other design elements (form) of products are what really sway the customer’s decision. Take a position on the ‘form vs function’ debate, i.e. How would you argue that Product Performance is the key to brand success OR how would you argure that Product Aesthetics are the key to brand success.arrow_forwardWhy is quality such an imponant product strategy objective? What are the dimensions of product quality?How has e-commerce affected the need for qualityproduct objectives?arrow_forward
- Critical Thinking Brand equity means that a brand enjoys customer loyalty, perceived quality, and brandname awareness. To what brands are you personally loyal? What is it about the product that creates brandloyalty and, thus, brand equity?arrow_forwardSome marketers believe that product performance is the be all and end all. Other marketers maintain that the looks, feel, and other design elements of products are what really make the difference. So in this opinion what do you think is suitable a product functionality is the key to brand success or product design is the key to brand success.arrow_forwardThe decline stage of the product life cycle (PLC) has its own special challenges for marketers. Briefly define the five strategies that a marketer can use for rejuvenating a declining product. What determines which strategy should be implemented? Please give examples.arrow_forward
- Design your product and provide it a name and a description and visual/picture of it (this can be your own drawing or an image from the internet with your brand/logo assigned to the image). Justify your choice by explaining in detail the reasons why you select your product (i.e. is there a demand for it? will it solve any social, environmental or financial issues? etc.). What is your vision for the selected productarrow_forwarddevelop a marketing plan, Description of the Product: What exactly is the product? What are the features and how do these benefit consumers? Target Market for the Product: Which group of consumers is the product targeted to? Comprehensive Description of the Marketing Mix for the Product. This should be a fulsome description of how you will address the 4 P’s (product, promotion, pricing and place) for your product. Conclusion: What benefits does this product offer consumers and makes it unique or superior to other similar products on the market, and that is it likely to make it successful?arrow_forwardList ten (10) of you favorite brand names. What do you like about the product and/or brand name? What do you dislike? What image does the brand have in your mind? How loyal are you toward the brand?arrow_forward
- Assume that you are working as a brand manager in a company. Your company is going to create a new product and senior management expects from you to create new brand for this new product. “How do you “brand” the product?” and “What makes the brand strong?”. Please answer these two questions by taking challenges and opportunities for the brands nowadays into account.arrow_forward'Brand parity' has become a major issue for companies. Identify three product categories in which a brand purchase is not very important. Why is the brand not important? Food, gas, and medicine Identify three product categories in which the brand is important. What brand or brands do you typically purchase in each category? Why? (Discuss phones (apple), cars (toyota), tools (black and decker)arrow_forwardHow should the organization differentiate its products? What are the product’s features, advantages, and benefits? Assess the extent to which the brand’s current positioning aligns with the product’s points of differentiation.arrow_forward
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