Marketing And Non Marketing Factors

When marketing any kind of product, the producer should take in to consideration the elements that will impact their business. If they can come up with solutions to these problems then they products are more than likely to succeed.

These challenges, awareness, availability, accessibility and affordability are the obstacles that stand in the way of a product being successful or not. If appropriately traversed, the company can expect to see huge profits. However this can only be done through a very thorough understanding of this unique market and the appropriate application of practical and pragmatic marketing strategies.

6 – Products and consumer perceptions are variable, so changes in strategy may be required to better address customer needs, technological developments, new laws and regulations, and the overall product life-cycle. By monitoring external conditions and shifting product development accordingly, a company can better target its consumers and learn to react to their needs.

Marketplace, especially in technology business is growing fast and constantly bringing the new offers to the consumers. As a society we have an ongoing strive for newer and better things. It’s a part of the nature and it might seem like a race, but we tend to think that we can always have something improved. We get a phone, but the new model comes out a month later. We are most likely to go and get the new one, because it has more functions than our other phone. Do we really need that new phone? Probably not, but it’s the need for the newer and better things that will always be there and rule the marketplace. It is a great opportunity for the businesses to grow and to satisfy the consumer’s needs.

Companies are continually coming out with new products; most new products are improvements of past products. However, the way a company markets a product and to whom they market the product can make a drastic difference in regards to the sales performance. Two products can be nearly identical and marketed very differently, while two products can be polar opposites and marketed almost identically. Two products that are similar but marketed differently are the iPad and the Amazon Fire tablet, and two that are different, but marketed similarly are Nike tennis shoes and Oakley sunglasses. It is important to understand how a company markets a product, but it is just as important to know why a company is marketing a product a certain way. The

Therefore, it really needed a strong product that responded the market’s needs and wants so that the product could speak itself in order to survive the keen competition.

Several key points are presented in the article for how companies can be successful. The first, is that companies must be innovative and be willing “to change their core products or business models” (Bertolini et al., 2015, p. 90) to keep up with the change in the marketplace. This may require that they rebrand their product, or change their business

Robert Rodriguez’s “ Marketing New Inventions “is an essay about the difficulties in marketing a new product. Rodriguez’s begins the essay talking Cindy Reichman and Shelly Conte the inventors or the Hide-N-Seek Haley and how quickly they are toy became “top selling toy during the 2005 holiday season (548). Quickly came down crashing down after a rival toy company introduced a similar product. Although they did experience some success experts in Mr.Rodriguez’s essay say “copycats and timing play a large role in a products longevity on the market” (549). He also talks to the inventor of the Daysago Jennifer Barney who has had success in the marketing world but says it come with a price because she has to continue to push her product forward by visiting each store she has sold her product. Later on in the Rodriguez it talks about Mike Summers, who says that there is a second option for people invent products: “

Robert Rodriguez 's "Marketing new inventions" is an essay about how to market inventions smartly and safely. Rodriguez shows examples of inventions that made it in the market and how they came about. Robert Rodriguez mentions facts about Tim Walsh, who gave examples of how some products are knocked off the market. Walsh states, “The problem is that success often prompts others to want in on what you are doing” (pg.549). Walsh’s prime example is the hula hoop. This product was trademarked in 1958 by Wham-O, but was stolen and Wham-O is now making 25% of the market. Rodriguez gave examples of some of the best products but the inventions in the essay were not the most useful inventions. In fact, pay phones and house phones had a good hold on people but when cell phones came about, it was all over. Most people may say the motor vehicle is the best invention ever, but cell phones have that beat. Imagine a world without the technology we use today; things would be hard and cell phones were the solution. Cell phones help with communicating, determining location and traveling, and keeping memories alive via picture and videos.

Trends are always changing in the marketing world. It is important for companies to stay up to date on new trends in the marketing world. To stay up to date on these trends integrated marketing must take place and that allows for

The positioning strategy should be driven by the market, rather than by the ambitions of the product champions. The source of the problem is failure to understand how consumers' value product attributes. In all, over-appreciating a breakthrough or new technology that

The Procter & Gamble has vast differentiated products due to its innovation culture. This is not just the invention of new products and services, but the ability to systematically convert ideas into new offerings that alter the very context of the business (Charan, 2008). The product differentiation allows the P&G to charge premium price for its products and assists to capture market share from its rivals by increasing the product demand.

Differentiation requires a constantly changing product line and is more successful when the company is able to offer a portfolio of products that complement each other, which enriches the experience for customers and satisfies a variety of consumer needs. And when differentiated products truly satisfy customers’ unique needs, the company is able to charge premium prices. For customers to be willing to pay a premium price, however, Ford's products must truly be perceived as unique in some way. The ability to sell goods or services at prices that substantially exceed the cost of creating the differentiated features will allow Ford to outperform its rivals and earn above-average returns.

Moreover, the products were developed based on what the company believed the consumers wanted (O’Neill 2010). The group completely forgot one of the keys of success of every company, the customers and their needs.

Starting a new product is never easy for a company. The difficulties they face are diverse in nature, and often they lack initiatives so that customers are not interested in the product.