Academy Home | Student Dashboard

BUS203: Unit 4 Discussion

bus203

#1

As we consider how a life cycle might apply to products and services, how might it also apply from a perspective of consumer interest and purchasing patterns? Pick a release of any company’s new product, and describe it in terms of its target audience, its place within the existing company brand, and supply chain issues that might need to be considered. Think of a product or service you might launch your own marketing campaign for. Describe it in terms of its target audience, its place within any existing brand, and supply chain issues that might need to be considered.


#2

For a consumer, they may debate on where to get their products and purchase them. People way the options on what stores to go to, especially with how many finances they have. For example, I know people will not shop at Wal-Mart but will drive farther to Target. I believe that brands and the management of a company can be two reasons why people shop or do not shop at the specific stores in their area.

A company that continues to add new products are entertainment businesses that advertise movies because they have to compete with online and local businesses. When I look for a new movie, I do my best to check the prices for each store and to see if the store will match the price, as well. A store may have a sale before the movie comes out just to bring up their sales and beat their marketers. Now people do not have to buy the movies but download them, which can cause local businesses to have a change in profits. Movies are distributed from different companies and genres, and the audience is all different ages from children to adults. Distributors have their own label like Fox, ABC, History, MGM, Disney, Pixar, Marvel, etc. Besides that, there are companies that make the movies and provide the discs, the movie covers, print the pictures, etc. There are more than one step to get the movies to the stores or online companies.

This week, our childcare and school are participating in a fundraiser with cookie dough. The company where we are ordering from is not in our state and we are using their catalog for our center. I cannot remember what company we are using, but we are hoping to provide them with sales and raise some money for our resources at our church. The company will have to send all their orders through tertiary packaging because the orders will be a large amount. Once the orders are sent it, the company will have to use their own transportation or a delivery system to get their packages to our state. The audience are the staff, families, relatives, and community to help support our fundraiser.


#3

Product lifecycle A product planning tool that parallels the stages of the human lifecycle.The Product Lifecycle A company has to be good at both developing new products and managing them in the face of changing tastes, technologies, and competition. Evidence suggests that every product goes through a lifecycle with predictable sales and profits, the manager must find new products to replace those that are in the declining stage of the product lifecycle and learn how to manage products optimally as they move from one stage to the next. The five stages of the PLC and their components can be defined as follows: 1. Product development: the period during which new product ideas are generated, operationalized, and tested prior to commercialization. 2. Introduction: the period during which a new product is introduced. Initial distribution is obtained and promotion is obtained. 3. Growth: the period during which the product is accepted by consumers and the trade. Initial distribution is expanded, promotion is increased, repeat orders from initial buyers are obtained, and word-of-mouth advertising leads to more and more new users. 4. Maturity: the pe~iod during which competition becomes serious. Towards the end of this period, competitors’ products cut deeply into the company’s market position. 5. Decline: the product becomes obsolete and its competitive disadvantage results in the decline in sales and, eventually, deletion.


#4

the life cycle of a product and how it applies to the perspective of consumer interest and purchasing patterns. A new product progresses through a sequence of stages, from introduction, maturity and decline. This sequence is associated with the marketing situation, thus impacting the marketing strategy and marketing mix. For example Samsung Galaxy S7 edge. It redefined what a phone can do, made improvement of Samsung phone in such a way the design very beautiful and a slim fit, the camera is designed such that you can take pictures in the dark, has a powerful processor, capital game trade mark, you can make payment with phone no need of carrying credit card, the memory is designed such that it expands at your own will, the bigger battery keeps one going for longer, water and dust resistant, shortcuts, provides security against hackers, there is also a provision for the customers to give feed back about the product. This targets all customers who like to be sure of how long they can use the product and the new features fit in with the changing innovative world to keep up with the competitors and they have tried to position themselves different from their competitors. The product i can think to launch is Uganda Goes on Line. The marketing campaigns I can try to introduce the product to the product through public presentations, Tv, Radio, sms, banners, training and also through interactive means ie competitions to win a prize, survey. This is to target the people of Uganda to Use online media, educative programs, games, surveys. Also to make the webportal to be easily accessible in many languages plus the local languages.


#5

The Product Plan
Once a marketer has determined a set of product objectives, it is then possible to initiate
the activities that constitute the product plan. Although there are a number of ways to look
at this process, we have elected to explain this process through the product lifecycle concept (PLC). It should be noted that the value of the PLC framework as a planning tool lies
at the industry and/or product category level.
The Product Lifecycle
A company has to be good at both developing new products and managing them in the face
of changing tastes, technologies, and competition. Evidence suggests that every product goes
through a lifecycle with predictable sales and profits, as illustrated in Figure 7.3. As such,
the manager must find new products to replace those that are in the declining stage of the
product lifecycle and learn how to manage products optimally as they move from one stage
to the next.
The five stages of the PLC and their components can be defined as follows:

  1. Product development: the period during which new product ideas are generated,
    operationalized, and tested prior to commercialization.
  2. Introduction: the period during which a new product is introduced. Initial distribution is obtained and promotion is obtained.
  3. Growth: the period during which the product is accepted by consumers and the
    trade. Initial distribution is expanded, promotion is increased, repeat orders from
    initial buyers are obtained, and word-of-mouth advertisements

#6

the product will be returned by only a few people. Extensive research should support this decision.
4. Delivery, installation, training, and service. Products that tend to be physically
cumbersome or located far from the customer might consider delivery (free or a
small charge) to be an integral part of the new product. Very few major appliance
stores, lumberyards, or furniture stores could survive without provisions for this
service. Similarly, there are products that are quite complicated and/or very technical, and whose average consumer could neither learn how to instal! or use it wiLhout assistance from the manufacturer. Both professional and home computer
companies have been forced to provide such services. The slow development of
v;deo products or product types that have a history of breakdown and extensive
maintenance rr…ust offer this service to the customer. In addition, it must be provic.ed quickly and effectively. Although product service and maimenance ha:, been
provided to industrial customers for several years, this service is stiP new to many
c:ustomer product manufacturers.


#7

HERSHEY CHOCOLATE MILK. Readily comes to mind
Hershey Foods Corp. is making an unusual move in using national TV advertising for its chocolate
milk, a product that historically hasn’t received much ad support. The national TV commercial, which
first aired in June 1983, was shot in 12 weeks in London by Clearwater Productions. Doyle Dane
Bernbach in New York develuped the commercial, which has been shown nationally on a children’s
network and in the early fringe time period.
“The commercial’s creative, it’s aggressive. ~t breaks one cardinal rule by not mentioning this
new product until 75% into the commercial. But the commercial works. We think its unique,” says
Bob Jeffery, DuB VP account supervisor. He admits that the Hershey packaging also has had an irr:portant consumer impact. "The carton practically screams chocolaie


#8

i would think of Quaker Oat , this is a company that has a great history since 1877, i saw a new product for this company in our supermarket it was healthy biscuits with a with a nice practical packaging, easy to use and store the targeted customer is adults and kids and for everyone who need healthy quick snack. this is has a priority in the Quaker Oat . about my own campaign it will be for a family product which is a clothes store that sell clothes for the whole family and with good quality and nice price, targeted customers is the families


#9

As we consider how a life cycle might apply to products and services, how might it also apply from a perspective of consumer interest and purchasing patterns? Pick a release of any company’s new product, and describe it in terms of its target audience, its place within the existing company brand, and supply chain issues that might need to be considered. Think of a product or service you might launch your own marketing campaign for. Describe it in terms of its target audience, its place within any existing brand, and supply chain issues that might need to be considered.

From a consumer perspective, the life cycle of a product can effect purchasing decisions. For instance, when the newest iPhone is released, the initial growth the product increases very rapidly. People will wait in lines to purchase the new iPhone just to say they have they have it. As we progress further from the initial release date the product matures and sells at a steady rate. This is when consumers that wait for the initial kinks and bugs to have been fixed decide to purchase. The iPhone is released in an assortment of colors and a supply chain issue that they face with every release is a specific color being more popular and selling out quickly. This could be a marketing tactic used by the company to keep its customers hungry for the product, but it does result in annoying the customers as well.


#10

The age of the household, an individual’s position in the household life cycle is more important than age or income. For example, a 45-year-old husband buying a house because he has a family to plan for. Marriage changes ones life’s perspective and the ages of children. Allowing their hypothesis, to make life cycle stages meaningful, each stage must be split into status categories. So family life cycle will depend on the nature of the product and prerequisites of a good segmentation criterion, for example, baby foods, school supplies, vacation, entertainment, toys be included in the ages of children and housing, furniture and furnishing, insurance, small appliances, and cars be put in the marital status.
I have chosen Samsung Galaxy S8. The target will be based on both international and domestic markets and the consumers belong to the middle class and high-class society in order to promote its new product. Samsung Galaxy S8 will introduce several new features like 4200 mAh battery, a 30-megapixel rear camera having optical image stabilization, geo-tagging, face recognition and auto laser focus. Improvements have been made on the screen of the mobile like corning gorilla glass, Bluetooth version 5.0, retina eye scanner, wireless charging, mini projector and rapid charging technology. These products are unique from its competitors and this will help create competitive advantages and position ahead of its competitors by ensuring its availability anywhere in the world.
I choose Nestle. Nestle is a very human company who care about their customers and are committed to creating value for their shareholders and all those communities around the world where they market their products. Ingenuity, variety, and teamwork give plenty of opportunities for their customers all other the world. Their target is on foods and beverages that contribute to nutrition, health, and wellness for everyone and that includes babies, growing children, senior citizens and other people with dietary needs. For success and growth, Nestle has built the greatest consumer trust for its products by getting close to their consumers as possible. They understand people of all ages and being aware and appreciative of all their needs and motivations. They have achieved the better consumer understanding than their competitors. They value the consumer at every step from product concept to the writing on the pack and also spend days observing consumers behavior on their product at their own homes and in the shops (hands-on research). Nestle is marketing a range of products at affordable prices and they provide a balanced diet by compensating for local dietary deficiencies and combine good taste with convenience and relevant nutrition. This company is built on very strong brand some of which are global, others are regional and many are local to the specific country.