Marketing Development : Product Development Essay

When a new product is launched into market, it will go through four stages of product life cycle, which are introduction, growth, maturity, and decline (Kotler and Armstrong 2001). The first three stages, however, may be the optimal period at which the effect of sales promotion can be maximized. Therefore, features of the first three stages and the corresponding marketing targets will be discussed in the following subsections.

The Marketing process is made up of simple concepts that involve lots of research on the part of the marketer. The process begins with understanding the consumer, without knowing what consumers need or want, it would be extremely hard for firms to both develop and sell a product. Knowing that consumers want more green products due to growing environmental concerns is a very important detail. Needs and wants are what fuel consumer purchases and marketers must perform research in order to best serve their customers. Through this research, marketers are led to the next step of the process and can now develop a customer driven marketing strategy. Here, the firm must decide how it will differentiate its product from others on the market.

Discuss what is meant by the term “customer orientation”. Illustrate with examples how companies demonstrate their customer orientation by reference to at least two elements of the marketing mix.

     Race and racism have been around since mankind made its first steps on the planet and it has brought upon violence, submissiveness, cruelty, and sexism into the world. A great representation of these themes and issues was brought by LeRoi Jones, who wrote “The Dutchman”. The play itself is a great representation of the relationships of races in America during the 60’s and can even been connected to today’s society. The Dutchman mainly focuses on the black-white relationship but can also be drawn to other cultures and races. I, myself, can also relate to what LeRoi Jones wrote in one way or another. Being a different culture and not being accepted was the first façade of America that I got

Product Development as a marketing technique is where a business develops a new product to sell to existing customers. Such as, if a customer buys a Playstation game and then buys the expansion pack that offers more

After the feedback, the team engages in the production of a product that best suits the consumer needs. After incorporating all the sentiments, the product is expected to be better. However, product improvement is a continuous process that needs to be performed from time to time. In fact, new human wants continue to be experienced, and thus innovation is inevitable.

- Product Development- product development is composed of existing markets and new products, it occurs when an organisation with a current or existing market undertakes a strategy of creating a new product which provides

Several threats exist. Company G is a well-established and respected company. Although this is a factor, rival companies eager to capitalize exist. Companies will make product closely resembling Company G’s and may offer at a lower price or with more incentives. Market growth will not be slow and low fixed cost to produce item will decrease rivalry. Since customers somewhat easily and freely switch from one product to another, this will increase rivalry. There are quite a few rivals in the same market.

Wentworth Industrial Cleaning Supplies is an organization whose potential is currently clouded by their lack of competitive strategy. Through analysis of their current situation, several key issues were identified:

New product development is crucial for a business to succeed. Firms that decide to introduce a new product to market must create a product-development strategy. The new offering of a product involves the same steps, but it will also depend on the size of the company and the type of product to decide if the product testing will be necessary before launching to market. The new

TRIBE was founded in 2015 by three friends and ultra-runners Guy, Rob and Tom, who took part in a 1000 mile run across Eastern Europe to fight against human trafficking. Their journey is what inspired TRIBE and together with a simple mission, they decided to set out and develop the highest quality performance nutrition products from 100% natural ingredients to help prepare others for their own though journeys. They have since then launched 25+ natural products; protein bars, energy blaze trails, protein shakes and trail mixes. Today TRIBE is growing fast (Tribe, 2017). TRIBE is currently an online retailer, adopting a direct-to-consumer online subscription model (Holloman, 2016). TRIBE specifically targets runners and

Desk research allows us to collect information from competitors’ websites in terms of promotional methods and industry monitoring, information is also collected through Census, the Bureau of statistics and Council statistics.

Product development is when a firm seeks to gain growth by targeting its existing products to new market segments. An example of this with Coca-Cola is vanilla coke. Having had a successful launch in America, Coca Cola decided to launch its new Vanilla flavoured version in Great Britain. Prior to doing so, Coca Cola carried out taste tests and developed the graphical ‘look’ of the Diet Coke brand. When they did this, they took great care to incorporate aspects of the Coca Cola brand, but still differentiating it so consumers would see it as an alternative to Coke.

Introducing a new product is an activity that involves a high risk and requires the application of a high content of resources; material, financial and human that

The desired identity mainly refers to the corporate identity pursued by the leaders of the company, or in the other words, the vision of the corporation. The desired identity is closely related to the CEO’s personality and ego, whereas the ideal identity usually is based on a deep research and analysis.