Globus

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Canadore College *

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Course

204

Subject

Marketing

Date

Jan 9, 2024

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docx

Pages

17

Uploaded by MagistrateFieldMonkey36

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Product Design: ### 1. **Cost Analysis:** - **Component Costs:** Analyze individual component costs for both products. Identify cost drivers and assess the impact on the overall production cost. - **Cost Reduction Opportunities:** Explore possibilities for cost reduction through bulk purchasing, alternative materials, or negotiating better deals with suppliers. ### 2. **Product Enhancements:** - **Customer Value:** Assess the perceived value of each enhancement from the customer's perspective. - **Market Research:** Conduct market research to understand customer preferences and willingness to pay for specific enhancements. - **Cost-Benefit Analysis:** Evaluate the cost-effectiveness of each enhancement in terms of production cost versus potential sales increase. ### 3. **R&D Expenditures:** - **Innovation Impact:** Evaluate how R&D expenditures contribute to innovation and product differentiation. - **Competitive Edge:** Assess the impact of R&D on maintaining a competitive edge in the market. - **Efficiency Measures:** Discuss strategies to optimize R&D processes and ensure efficient use of resources. ### 4. **Performance / Quality Rating:** - **Customer Feedback:** Analyze customer feedback to identify areas for improvement. - **Benchmarking:** Compare the products against competitors to understand performance gaps. - **Continuous Improvement:** Develop a plan for continuous improvement in product performance and quality. ### 5. **Assembly and Labor Costs:** - **Process Optimization:** Evaluate the assembly process for efficiency improvements. - **Training Programs:** Invest in employee training to enhance productivity and reduce errors.
- **Automation:** Explore opportunities for automation to reduce labor costs over time. ### 6. **Projected Unit Assembly:** - **Scalability:** Assess the scalability of the production process to meet market demand. - **Market Demand Analysis:** Utilize market demand forecasts to determine optimal production quantities. - **Flexible Production:** Develop strategies for flexible production to adapt to changing market conditions. ### 7. **Warranty and Maintenance Costs:** - **Root Cause Analysis:** Conduct a root cause analysis to identify common issues leading to warranty claims. - **Quality Control Measures:** Implement stringent quality control measures to minimize defects. - **Customer Education:** Develop initiatives to educate customers on proper product use to reduce maintenance costs. ### 8. **Market Positioning:** - **Competitor Analysis:** Conduct a thorough analysis of competitors to identify areas for differentiation. - **Value Proposition:** Refine the value proposition to highlight unique features and benefits. - **Marketing Strategies:** Develop marketing strategies to communicate the product's unique selling points effectively. ### 9. **Sustainability and Innovation:** - **Environmental Impact:** Assess the environmental impact of production processes and explore sustainable alternatives. - **Innovative Features:** Investigate cutting-edge technologies or features that align with market trends and sustainability goals. - **Corporate Social Responsibility:** Integrate corporate social responsibility initiatives into product development and manufacturing. ### 10. **Supply Chain Management:**
- **Supplier Relationships:** Strengthen relationships with key suppliers to secure favorable terms and conditions. - **Risk Mitigation:** Identify potential risks in the supply chain and implement strategies to mitigate disruptions. - **Technology Integration:** Utilize technology for real-time tracking and management of the supply chain. ### 11. **Diversification and Product Portfolio:** - **Market Segmentation:** Identify potential market segments and tailor products to meet specific needs. - **New Models:** Explore the introduction of new models with different features or specifications. - **Customer Feedback:** Gather feedback from existing customers to guide the development of new products. This detailed approach to each discussion point provides a comprehensive strategy for product development, cost management, and market positioning. Regular monitoring and adjustments based on market feedback and performance metrics are essential for ongoing success. 2.AC Camera Marketing: Certainly, let's dive into the details for each section based on the provided information: ### 1. **Market Strategy and Pricing:** - **Discussion:** - **Regional Economic Factors and Consumer Purchasing Power:** - **North America, Europe-Africa, Asia-Pacific, Latin America:** - Analyze GDP, income levels, and economic stability. - Discuss how these factors influence consumer purchasing power. - **Pricing Strategy:** - Evaluate the average wholesale price to retailers in each region. - Consider market positioning and competitive landscape.
- **PPT:** - **Slide 1: Introduction to Market Strategy:** - Brief overview of the company's market strategy. - **Slide 2: Regional Economic Factors:** - Visual representation of economic factors in each region. - **Slide 3: Perceived Value and Pricing:** - Graphical representation of pricing strategy. - Competitive positioning. ### 2. **Buyer Appeal and Market Share:** - **Discussion:** - **Factors Contributing to P/Q Rating:** - **Action-Capture Camera Features:** - Discuss image sensor size, LCD display screen, and other features impacting the P/Q rating. - **Buyer Appeal:** - Analyze the appeal generated by product design decisions. - **Four Models Strategy:** - **Market Segmentation:** - Discuss how offering four models caters to different consumer preferences. - **Strategies for P/Q Rating Improvement:** - **Innovation and Enhancement:** - Explore R&D investments for improving the P/Q rating. - **PPT:** - **Slide 4: Image Sensor, LCD, and P/Q Rating:** - Visual representation of camera features. - **Slide 5: Four Models Strategy:** - Graphical representation of market segmentation. - **Slide 6: Strategies for Improvement:**
- Show R&D investment trends. ### 3. **Marketing Budget Allocation:** - **Discussion:** - **Impact of Retailer Support and Advertising Budgets:** - **Retailer Relationship:** - Discuss the impact of retailer support on brand visibility and market presence. - **Advertising Rationale:** - Explain the rationale behind allocating advertising budgets in different regions. - **Rationale for Budget Distribution:** - **Traditional vs. Digital:** - Discuss the decision-making process for balancing traditional and digital advertising channels. - **Alternative Strategies for Budget Optimization:** - **ROI Optimization:** - Explore alternative strategies for optimizing budgets to maximize return on investment. - **PPT:** - **Slide 7: Impact of Retailer Support:** - Visual representation of retailer support impact. - **Slide 8: Rationale for Advertising Budget:** - Graphical representation of advertising budget allocation. - **Slide 9: Budget Distribution Rationale:** - Visualize the decision-making process. - **Slide 10: Alternative Budget Strategies:** - Graphical representation of alternative strategies. ### 4. **Sales Promotions and Warranty Period:** - **Discussion:** - **Effectiveness of Sales Promotions:**
- **Market Dynamics:** - Assess the effectiveness of planned sales promotions in alignment with market dynamics. - **Consumer Behavior:** - Discuss how sales promotions align with consumer behavior. - **Strategic Implications of Warranty Periods:** - **Customer Loyalty:** - Discuss the strategic implications of chosen warranty periods on customer loyalty. - **Competitive Comparison:** - Compare warranty offerings with key competitors. - **Customer Perception and Competitive Advantages:** - **Brand Perception:** - Discuss the impact on customer perception. - **Competitive Edge:** - Explore how these strategies create a competitive advantage. - **PPT:** - **Slide 11: Sales Promotions Strategy:** - Visual representation of sales promotions. - **Slide 12: Warranty Period Decision:** - Graphical representation of warranty periods. - **Slide 13: Customer Perception Impact:** - Visualize the impact on brand perception. ### 5. **Market Segment Statistics:** - **Discussion:** - **Year-over-Year Trends:** - **Demand Analysis:** - Analyze year-over-year trends in demand for action-capture cameras in each region. - **Factors Influencing Trends:**
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