Assignment:
Have you ever played marketplace game?
Read the overview document and chapter 9. Overview document gives you the scenarios and environment where this new company is beginning (marketplace environment section). We are in quarter 3 and we need to:
1. Tell the production division what specific components are to be built into the brand
2. The desire to maximize customer satisfaction must be balanced against the desire to minimize production costs.(sketch strategy to meet this)
3. Brand design: Selection of production components which provide the desired level of an abstract benefit while remaining within the price constraints of the target market. see market selected on the excel document.
4. Quality Function Deployment (QFD): A technique for systematically matching features to benefits.
5. Target marketing: Selection of individual segments for market development (see market selected on excel)
6. Differentiated marketing strategy: Development of a unique marketing strategy for each segment.
-versus-
Mass marketing strategy: Development of a generic marketing strategy designed to appeal to multiple segments.
Do a brief segment for both kind of marketing strategies and note pros and cons of each.
Consider:
1. Your marketing tactical decisions will focus on pricing and promoting your products.
2. Design an advertising campaign.
3. Purchase market research.
The formula for success in business and marketing is very simple. Make lots of people happy and you can earn a lot of money. Here are the rules:
Find out what people want.
Give them what they want.
Tell them that you have what they want (advertise).
Send people out to where they work and live and personally explain how you have the solution to their needs (distribution and sales
force management).
1. Collect the money for a job well done.
2. Marketing: delivery of customer needs through brand design, pricing, ad copy design, and media placement.
Consider:
In quarter 2:
In quarter 2, you analyzed the market data, established your initial business strategy, and started working on the tactical details of that strategy. Specifically, you opened sales outlet(2 offices in asia) and designed new brand(1 brand), and started the construction of your factory (1 factory )
Quarter 3: TO DO
Select web marketing tactics.
Design an advertisement for each brand.
Schedule the ads in each city with a sales office or web center coverage.
Schedule the production of your brands.