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| What are the advantages and disadvantages for companies that are the first to introduce products that create new markets? |
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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?Will Reckitt be able to maintain its market position in somany areas when strong competitors enter with their ownniche products? Why or why not?In this unit, we look at how innovations are commercialized, progressing through a common Product Life Cycle. What are each stages of the Product Life Cycle? What are the dominant characteristics of each stage?
- 1.Launching a product in a small part of a market is called? 2. What are the 2 ways that a company can obtain new products?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?What barriers must be overcome for a potential new product entry?
- what would be appropriate marketing objectives and strategies for each stage of the PLC for a product that you are familiar with ?In a couple of paragraphs, describe how launching a new product into different nation(s) with different economic, political, and cultural environments could affect the firm's marketing decisions. Provide at least two specific considerations for the firsm, along with rationale.What are the disadvantages of having a product-centric view?
- New-product development is important to a company like Medtronic, hut it is hard work, and often leads tofailure.How can a company encourage its enployees to take initiative,make a profit,and be ethically and socially responsible?Think of a famous company or product whether local or international that focus on one target market only. Explain. Do you think focusing on one particular target market has a huge impact to their market strategy? Why? Do you think having only one target market can hugely affect their branding in the market? Why?With a focused strategy, you often find the product creates a niche market With infants, it can be baby food, where Gerber has a traditional advantage. It is more expensive but had both brand recognition and customer loyalty – why