GC MKT607 All Discussion latest 2016 September
Product strategy, as part of the marketing mix, should be driven by consumer needs. Consumers make purchase decisions based on perceived benefits. Sometimes translating desired benefits to product design, features, and overall product strategy can be challenging for marketers. Discuss why this is the case, citing specific real-world examples of products that have been successful and products that have been unsuccessful.
Explore the Marketplace Live simulation. Discuss any previous experience you have had with strategic planning. How will your experience help you in working with your team to build a successful marketing division? What challenges will you face? Provide specific examples of both strengths you can offer and challenges you may face in building your microcomputer division.
Based on what you have learned about market research so far, how does what you will be doing in the simulation fit into the market research process? How will you approach market research and continuous improvement? Consider the initial market research data you purchased, the test market in Quarter 3, and your ongoing use of research data.
dq 2Should there be greater government regulation with respect to selling to vulnerable consumers? Be sure to support your discussion question responses with evidence from the readings or additional references.
A number of factors contribute to the pricing strategies for a product. Considering the workhorse segment in the simulation, what pricing strategy would be most effective considering both the market's needs and the product life cycle? As the product moves through the life cycle, how should the pricing strategy change?
dq 2Explain the reason for positioning and repositioning products. Choose a product with which you are familiar, preferably one in your industry, and explain how it might be repositioned. Indicate its current position in the market, a desired position, and how you would manage the repositioning effort.
How do customer relationships fit into a vision for a given product and the overall organization? How does an organization use this relationship to meet customer satisfaction through branding and advertising?
dq 2Should chain stores imitate the packaging of leading brands? (Store brands will frequently have the look of a well-known brand). Why or why not?
The Marketplace Live simulation involves business-to-business (BTB) marketing of computer products. Social media is often considered for business-to-consumer (BTC) marketing. Does social media marketing work in the BTB marketplace? Why, or why not? How might you use social media marketing in the Marketplace Live simulation to build relationships with business buyers? Provide at least two specific examples and defend your choices.
dq 2Social media marketing depends on involvement and word-of-mouth. However, there are risks when using social media marketing. Discuss the pros and cons of using social media such as LinkedIn, Facebook, and online blogs as part of an integrated marketing communications strategy in the Marketplace Live simulation. Define at least two advantages and two risks to using social media to sell computers to business customers.
Analyzing outcomes from previous months is a helpful step in refining projections and a process. Discuss the importance of evaluating the competition and continually refining your position in the market to maintain an advantage.
dq 2What are the various types and functions of marketing intermediaries? Which are more important for large business and why? Which are more important for the small business and why? How could additional marketing channel options in the simulation help you better serve your target market?
What global marketing challenges would you face if the simulation were based on a real-world situation? Discuss the difference in the experience you would have with the assumptions built into the simulation (e.g., no cultural barriers, language, currency, tariffs, mode of entry challenges).
dq 2Think of two creative ideas for services to be provided by the grocery industry. Be very specific in terms of the rationale behind your approach, and the systematic procedures (e.g., questionnaire) you would use to introduce your services to the market.
Describe your experience with the simulation. What have you learned from this experience? How will the simulation experience prepare you for your future in the business world? Explain.
dq 2Assume that you are a marketing manager charged with developing and leading a market entry into a country with a large power distance index (PDI). What are three major concerns from a marketing viewpoint that you would need to address? Explain.
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Solution: GC MKT607 All Discussion latest 2016 September