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Do you agree that experience/exposure, time, and location are also factors in product development? Why? Please explain your answers per variable.
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- 1. What particular product do you think will be visible and be accepted by consumer in the market today? Explain. 2. What barriers must be overcome for a potential new product entry?You are the Marketing Director for Newsday, Long Island’s newspaper. Newsday publishes both print and online editions. The newspaper industry and company have been struggling over the past two decades with newsstand sales, subscriptions, and advertising revenues on the decline. What are some marketing strategies that might stem the decline and possibly turn it around? What specific market segments would you target and why?Making Business Decisions IMichael Porter’s Five Forces Model is a useful tool to aid organizations facing the challenging decision of entering a new industry or industry segment. The Five Forces Model helps determine the relative attractiveness of an industry and includes: Buyer Power Supplier power Threat of substitute products or services Threat of new entrants Rivalry among existing competitors PROJECT FOCUS: Perform a detailed Porter's Five Forces analysis for The Broadway Cafe. Be sure to highlight entry barriers, switching costs, and substitute products. Determine which of Porter's Three Generic strategies you will use as you rebuild The Broadway Cafe for the 21st century.
- Your task is to firstly determine what market segments you can identify (both from the information below and your own knowledge)? And then, based on this information, which target market would you select for the firm? From the Manager’s Meeting Natalia: As we all know, the company wants to enter the huge smart phone market. We have been a significant player in the electronic and entertainment market for many years and senior management has decided that now is the right time to grab a share of this market. Therefore, the main purpose of today’s meeting is to outline the various segments in this market in order to gain some understanding of the best target market for us. So who has some ideas about the various segments? Bianca: Obviously, Apple has made the smart phone a fashion statement – there’s clearly a segment that are attracted to the fact that it is a trendy thing to have and be seen with. Ivan: Another big segment is people on-the-go. For instance, most people I know…You are required to develop a brief marketing plan for a Shampoo product, that you will launch in your country. Thisnew product can be an extension or adaptation of a currently existing product in your country. 1. Description of the Product: What exactly is the product? What are the features and how do thesebenefit consumers?2. Target Market for the Product: Which group of consumers is the product targeted to?3. Brief Overview of the Marketing Mix for the Product. This should be a concise description of howyou will address product features, distribution, promotion, and pricing for the product.4. Conclusion: What value does this product offer to consumers that makes it unique or superior to othersimilar products on the market, and that is it likely to make it successful?Develop a brief marketing plan for a new product that you will launch in your country. This new product can be an extension or adaptation of a currently existing product. Should be a marketing plan outline as follows: 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? Brief Overview of the Marketing Mix for the Product. This should be a concise description of how you will address product features, distribution, promotion, and pricing for the product. Conclusion: What value does this product offer to consumers that makes it unique or superior to other similar products on the market, and that is it likely to make it successful?
- What are the special characteristics of tourism as a product and what are the implications of those characteristics to tourism planning?Discuss the following areas focusing only on factors that will have significant impact on MERCURY DRUG CORPORATION 1. Social, Cultural & Demographic Focus 2. Technological Focus 3. Environmental Focus 4. Legal Forces Note: Discuss thoroughly and translate the identified PESTEL factors in terms of how relevant these factors are for the company and identify and correlate the same for possible opportunities that may affect the following: • Market Demand and Opportunities • Types of products and services offered • Intensity of Competition • Supplier and Distribution • Costs of Doing Business • Other aspects of the BusinessWhat are the characteristics of an attractive industry? How would you identify that a target market is attractive for your proposed business?
- Compare alternatives on an equal basis and select the alternativethat is wisest from an economic standpoint?Would a monopoly get a perfect score for industry attractiveness in porter’s fiveforces model?NEED URGENT! In a market for a new product, the coefficient of innovation is 0.04 and the coefficient of imitation is 0.2. The overall size of the market is 40000. If 1600 people adopted the product in first year and 1843 people adopted the product in second year, calculate the residual consumers who are yet to adopt the product at the begining of third year.a. 40,000b. 36,557c. 38,400d. 34,128 In Bass diffusion model, if p=0.2, q=0.3 and M=20000, calculate the cumulative number of people adopting the product at the end of first year.a. 8160b. 4160c. 4000d. 3817 Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.