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- Creative Homework/Short Project Select a companyand identify an existing product sold by that companythat could potentially be further developed to meetnew consumer needs. Using the selected product, develop an approach to engage consumers in the processof value co-creation with the objective of developing anew version of the selected productCreative Homework/Short Project Select a companyand identify an existing product sold by that companythat could potentially be further developed to meetnevv consumer needs. Using the selected product, develop an approach to engage consumers in the processof value co-creation with the objective of developing anevv version of the selected productExplain the concept of New Product development process and how does a marketer use it for a successful product launch? Explain it with the help of how you can launch a product or service into the market following the steps (500 to 550 words)
- You have been hired as a consumer behavior expert for Dayfresh. Dayfresh offers products such as cow milk, lactose free milk and flavored milk in the milk and dairy category.Question1: What type of attachment can a consumer have with your product? Briefly explain the type of attachment. Question 2. Which sensory stimuli can be used in sensory marketing of your brand? Give example of any one stimulus and how would you use it.e) Do you think giving the chocolate bar a brand name was necessary for its success? Justify your answer. Revision checklist In this chapter you have learned: to identify the four elements of the marketing mix o about the role of product decisions in the marketing mix o what makes a product successful o the costs and benefits of developing a new product owhat is meant by brand image and how this can influence sales and custom loyalty e about the role of packaging o to draw and interpret a product life cycle e about the different stages of the product life cycle and how they can influen marketing decisions e to suggest different ways to extend the product life cycle. DW-test your understanding with the revision questions on the CD-ROM.Q)Marketing strategy alone can make the success of any product the core competencies of business can develop” Is this true? Explain with example. (Subject name: strategic marketing planning) note: i need non plagerised and relevant answer only thanks
- Do a simple research. Provided one specific example of recent product changes (example: new products that are replacing older ones). Do these changes add value to that certain product? Why or not? Cite sources properly.If trying to come up with a marketing plan for undersold product – how would I reposition the product in the consumer’s mind to increase its purchase? How would I outline my strategy?Describe an example of a new product or service that is targeted at thecollege-student market. Using the concept-testing discussion in thechapter, describe how you would conduct a concept test for this productor service.
- Choose an existing product that you believe might benefit from repositioning. It may be a food product, a form of entertainment, a type of electronic equipment, clothing, and so forth. Visit the firm’s website to see how the product is positioned, and identify ways in which marketers might reposition the product.1. Think of a product or service in which you think constantly working on finding a unique strategy to please a customer and retain loyalty. Explain and discuss. 2. Do you think having those approaches of contemporary marketing has a huge impact to organization? Explain and discuss. 3. As a costumer, do you think having a face to face contact in advertising helps in increasing the credibility of the brand? Discuss. 4. Do you agree to what case was stated that the customers are willing to pay extra for products from companies which are concerned about the environment and committed to sustainable development? Discuss. 5. Think of a company that offers either product or service in which you think contains the three approaches of contemporary marketing (Relationship Marketing, Industrial Marketing, and Social Marketing). Discuss.Creative Homework/Short Project Your company has developed a new high-end hand cream, designed to noticeably soften hands and reduce the appearance of age spots and scars when used daily. Using the hierarchy of effects, develop communications objec- tives for your product for consumers who may be at each stage in the hierarchy. Make sure your objectives are specific.