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As a marketing consultant, a prospective business man has approach you to advise him on his intention of venturing into the market with a new product.
1. Illustrate to him the potential stages of the market his product needs to survive to be successful on the market.
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- As a marketing consultant, a prospective business man has approach you to advise him on his intention of venturing into the market with a new product. 1. Explain to him the approaches he can consider 2. Analyze the factors that need to be consider for each approach. 3. Illustrate to him the potential stages of the market his product needs to survive to be successful on the market.As a marketing consultant, a prospective business man has approach you to advise him on his intention of venturing into the market with a new product. 1. Explain to him the approaches he can considerExecutive summary of ice cream business plan. This section is a synopsis of the plan. You should include the following: The problem, need or want the business addresses. Target market(s) and benefits of the product. The business model and basis for competitive advantage. Qualifications of founding team and key employees. Key financial highlights.
- 1. It is entirely impossible that an opportunity is out in the environment for the entrepreneurs to recognize or discover. True False 2. Examples of impulse goods and services include stopping at a car wash on the way home, or buying a pack of gum while standing in the checkout line. True False 3. Market research shall help you to fit the product to the needs and wants of the customers. True False 4. Opportunities may sprout within an individual. True False 5. When innovating, an entrepreneur should stop getting ideas to the market. True False 6. Emergency goods are purchased after careful reflection on whether they are really needed. True False 7. A product idea is an idea for a possible product a company can offer the market, while a product concept is a detailed version of the idea stated in meaningful consumer terms. True False 8. One of the reasons for undergoing product development is to offer something new and keep up with the latest fashion trend. True False 9. An example of a…Distinguish clearly between a marketing strategy and a marketing plan. If a firm has a really good strategy, does it need to worry about developing a written plan?How do you create a survey (primary data)? How do you draft a 1-page sample survey, with the survey should focus on whether the company has the right target market for Kibbles and Bits dog food? What kind of closed questions regarding the perceived market opportunity (e.g., is it worth the while?)? Or, open or closed questions on how to design a product to ensure its appeal to your target market (e.g., what should it do or look like to make it work?)? What are least 3 qualitative and 3 quantitative questions?
- L'Oreal - Case Study Business and marketing background A review of the company and their marketing efforts Issues and Opportunities as provided within the case A recommended strategy or course of action Expected business and brand marketing outcomes based on your recommended strategy or course of action Risks associated with your strategic course and high-level mitigation plansConsider the following, among other things: Do you believe that techniques such as Big Data and Predictive Analytics, for instance, would have been effective in marketing ten to fifteen years ago? And why does this happen to be the case?3. You are a marketing manager for a food products company, considering the introduction of a new brand of organic salad dressings. You need to develop a marketing plan for the salad dressings in which you must decide whether you will have a gradual introduction of the salad dressings (with only a few different salad dressings introduced to the market) or a concentrated introduction of the salad dressings (in which a full line of salad dressings will be introduced to the market). You estimate that if there is a low demand for the salad dressings, your first year’s profit will be $1 million for a gradual introduction and million (a loss of $5 million) for a concentrated introduction. If there is high demand, you estimate that your first year’s profit will be $4 million for a gradual introduction and $10 million for a concentrated introduction. The payoff table for the organic salad dressings marketing is given as follows: Low Demand High Demand Gradual 1…
- Choose the best ANSWER 1- A marketing team is working on specific marketing activity planning, who will do those activities and how, and what resources will be needed. Which part of the marketing plan does this best describe? Developing the mission statement Situation analysis Marketing strategy Marketing implementation 2- Which of the following is the best example of a good strategic goal (according to professor and marketing plan directions)? Increase sales per square foot by 5% in the next 6 months. Get a 25% market share. Increase profitability. Get more people to try our new product. 3- Which is most true about marketing? Marketing should be an organization-wide focus on customers. Marketing is most effectively thought of as an organizational department that just handles advertising and sales. Marketing is only used to take advantage of people. Marketing can only be used for tangible products. 4- Which is the best example of using the…If the Company have no marketing strategy, explain the following consequence that might affect to their goals, mission and objectives. a) Losing out to competitors b) Losing market share to existing and start-up competitors c) Gaining and retaining fewer customers d) Missing out on opportunities for better targeting e) Lack of planning and discourage to execute good ideas. f) Easily collapse g) No direction in attaining the company’s goals and objectives h) Lack of managementSuppose you are a marketing manager at a food company. Your CEO asks you to implement marketing strategies. answer the questions below: 1- How this strategy will assist the company? 2- Or markets? Give example 3- Why do you think the company will dispose of some products or markets? Give an example?