Marketing of generic brand (advertising a generic product to gain national brand recognition
Answer in full paragraphs!
1. Describing the product on quality e.g., low, medium, or high involvement product. Talk about price, advertising intensity, and warranties. Would you or mimic an existing campaign or building your own
2. Describe the market segment and its size to which the advertisement will be geared towards. Determine if this market segment has grown over the past ten years, and project if it will continue to grow within the next ten years. Analyze three factors affecting this market segment, as well as how these factors are changing the segment's purchasing behavior for this product.
3. Determine which reference groups influence this market segment. Strategize which diffusion rate is most appropriate for this product to move it into national prominence. Determine diffusion determinants and diffusion inhibitors for this product. Recommend a diffusion enhancement strategy that incorporates reference groups for this product
4. Expound on characteristics of the product that you want to promote in your advertising campaign. Determine which dimension best suits the selected product, and build a promotion-focused Develop a strategy for consumers to rediscover the selected product.
5. Consider the impact of lifestyle on consumer behavior. Determine if there will be an increase or decrease in purchases or consumption. Evaluate how these factors affect consumption. Evaluate your campaign for the selected product and its effect on problem recognition.