Strategy and Positioning Paper
Please use your own words and do not copy from any websites. We are still using the 3M Company about the picture leveler frame. I only have to work on bullet number #4 with a 400 word count. Please do not forget to include the references.
Use the same product and organization you identified in your Week 3 Strategy and Positioning Paper.
Write a 1,750- to 2,100-word paper that includes:
• A description of how your marketing efforts and marketing mix will change with each phase in the product life cycle
• The packaging you will use for your product or service and how it will add value
• The appropriate pricing strategy for your product or service and the price you will set at launch
• The channels of distribution you will use to sell your product along with a description of how each channel partner will add valuePlease reword these paragraphs in your own words. Do not copy from any websites or use the same exact words as in the paragraphs.
Marketing Chapter 16
o 1-When thinking about level of service it can be a tool used to market your company in itself; Neiman Marcus, Southwest, and Apple are known for their customer service. As a consumer we purchase more from people and companies that we like and trust. You hear about how these companies prioritize and treat their consumers and it attracts me to them. I fly southwest primarily and they are phenomenal; I have IPhone, Ipad, etc. A customer's perception of your service tremendously impacts your bottom line. A negative review to your business is in essence a marketing campaign for your business unfortunately; it is just not the kind a business typically wants.
Marketing Chapter 17
o 2-Direct marketing not only has value for the consumer but it also has a cost value for the company. This is not to say that research for the campaign is not performed but it is a better use of company time and resources to use direct mail because consumers are so connected to their phones. When I can't sleep I look things up on my phone and that could be why I can't sleep but, just the other day as I was getting ready for work I saw a coupon come across in my email; I opened it up and purchased from the company right then and there. I did not have to go out of my way to go down to the store, show them the coupon, hope they have my sizes and selections, and wait in line to check out. It was an immediate gratification for me and consumers always want immediate gratification and the most efficient option to be presented to them.
Marketing Chapter 19
o 3-In this chapter they spoke about social media and how it relates to advertisement. Social media has increased significantly in numerous ways in the last few years making it a perfect marketing and advertising tool. Not only can people interact all over the world but they now can represent their business to everyone as well. Social media allows for business to reply to customer almost instantly which increases there customer service rating. Also they can directly advertise their services to groups or specific people in the same industry. It is a great way to interact with the public while showing them your business and potentially gaining new customers while being relevant with your existing customers on social media.
Marketing Chapter 21
o 4-Interactive Marketing is a two way buyer seller electronic communication that is supplied by customers, and transformed into customized responses that target specific consumers' needs and wants. In my opinion, it is an accurate way to narrow down what certain customers want in potential product. In a way this is a good advertising scheme for certain businesses, as it shows that certain business cares about the consumer's needs. The more familiar a buyer can be with the product they are interested in, then there is a higher chance they will buy that product.
Content King Video
5-Word of mouth marketing is the oldest form of marketing, the principals still stand today you cannot sell to a man who isn't listening. According to content marketing institute, " A marketing technique of creating and distributing valuable, relevant and consistent content to attract and acquire a clearly defines audience- with the objective of driving profitable customer action." This video talks about key objectives to attract and acquire a key audience. Targeting is very important; the information needs to be valuable and relevant to people's life situations and the content needs to be consistent which can be an issue for organizations. Companies need to be very consistent to bring consumers in. This video touches on the concept of stop thinking like a marketer and more like a journalist to use valuable relevant content. It also touches on in today's world how convergence is very important and overall content is key. This was a very well put to gather video in my perspective.
Week 4 starter 1
? 6-Distribution channel is a place or website to show, sell or delivery of product or products to the clients. An example of a distribution channel is Toys R Us. Toys R Us carries many different brands of toys and baby products all distributed to their stores in order to display and deliver the product to the customer. Channels of distribution and logistics go hand-in-hand. Toys R Us offers online ordering where your order is shipped directly to your home or to a local store. Channels of distribution rely on logistics to assure their product is delivered to the customer in the same condition and quality as manufactured, e.g. no shipping damage. As for geographical location would affect my selection of distribution because I rather take the time to go a local company to get the product and not have to consider or wait on shipping time and cost and any issue if I would need to return the item.
Week 4 Starter 2
? 7-As Wall Street Journal is the top newspaper to circular in the United States mean it has more subscribers then USA today which is third top newspaper. The logical decision for any business is to go with the one that has more readers and spend premium price so that your advertisement is being seen more, so that your client base could expand and grow. Another factor that is even though the readers of Wall Street Journal are more incline to spend money after view a advertisement (which is never guarantee), picking the right target market is essential, if your company is gear toward the business type market then it CU-Boulder make sense to go into USA today where it covers more various topics then just focusing one just one.
I have to answer my teacher the questions that he posted like if I was having a conversation face to face with him.
? 8-How would a person be presented documents that need to be signed with the ATAs? Has this system allowed staff reductions or is it too new to do that?
9-Social media has taken marketing metrics and real time exposure to a whole new level. What may have taken months or years of market research, target demographics data can now take a couple of days with the right campaign. In my place of business, I only use social media for advertising and product promotion purposes, there is no need for mailers anymore and I can do it in a fraction of the time.
? 10-Your response just emphasizes the importance of continual improvement being vital to the product life cycle. When is the right time to reposition a brand? What are some of the factors a company must consider? What are the potential challenges?