Michelle has told you that the board is now ready to see the final presentation of your plan for MM’s new product.”They are very eager to see what we have been working on during the past few weeks,” she says excitedly. “I am sure they will love the plan and am looking forward to your presentation.””Thanks,” you respond, feeling a few butterflies in your stomach. “I am looking forward to the presentation also. I think we have covered all of the bases and I am sure we have a solid plan. I have jotted down the order of items to cover that I think will be best for the presentation. What do you think?”
Objectives of planMarketing research used to select target marketProductPricingDistributionPromotional StrategiesMeasuring resultsContingency Plan”This looks like a solid format for the presentation. Let me know if you have any questions and I will be happy to help,” Michelle says exiting your office.You close the door of your office so you can fully concentrate on preparing your presentation. You have a lot of material to cover, but you have been working on this plan for weeks. Now it’s just a matter of formulating a cohesive strategy and anticipating any questions that may arise during the presentation.What might somebody else say to show your proposed solution is wrong?What could you say to show s/he is wrong?What alternative solution might someone else recommend?What reasons might someone provide to support their solution?How would you respond to their reasons?Is there a compromise or creative solution?Please submit your assignment.The materials found in the M.U.S.E. may help you with this assignment. Additional information is also provided in the Lessons From Experience found at the following links:Global MarketingTracking the SkippersAiming at the Right TargetThe Language of BrandingTargeting the Museum MarketPenetration and Skimming Pricing StrategiesThe Price Has to be RightSeeking a Loan for a Start-UpHigh Customer Concentration Proves Fatal
ip3_carla_dempsey_.pptx
global_marketing_ip1.pptx
201912081924516__part_a_.docx
20191208193536_part_b___1_memo.docx
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Product Branding
Carla Dempsey
12/3/2019
Brand Name and Slogan
Name
Ziofy Mobile
Slogan
Making Life Better
Idea Generation
Product Ideas
In promoting a shared culture of innovation, the sales and
service staff spoke to , most of the customers daily
regarding the type of mobile device they would prefer.
Research and Development Processes
Within the Ziofy telecommunication, there is a research
and development processes team.
Quality Assurance and Standards
The research team noted the issues of the products, such as
potential risk to the customers, e-waste management,
among others.
Idea Generation – Continued
Customer Complaints
The batteries of most mobile devices do not last
long, some even less than a day.
Ziofy mobile device will come up with a
powerful 7000 MAH battery that can power all
the daily activities.
Competition
Telecommunication sectors face stiff competition,
especially from the developed telecoms.
Idea Screening
After the product idea generation, idea screening is the
next step. This is important to know which ideas to pursue
and which ones to discard.
Prominent Customer Needs
From our analysis during product idea-generating, we
realized that customers require a versatile product that
meet their daily needs such as browsing, taking
photographs and long talk and video playtime.
Amount of Research and Development
Research needs to be done in-depth to understand aspects
relating to launching a new product. Resources Required
Setting up a new brand in the market requires enormous
financial resources.
Idea Screening – Continued
Competition
First, in competition from related products from established
companies, the product will be customized to suit the needs of
the youths and the diverse technology needs of the changing
market.
Marketing Potential
Once this idea is on feet, there is a need to get the word out.
With this business idea, two phases will be required from this
process.
First, the launch phase, where the original site of business is
heavily promoted. Secondly, the maintenance phase, where
effort is made to maintain market recognition.
Technical Feasibility of the Idea
In execution of the product, a highly trained and diverse human
workforce will be required.
Marketing Strategies and
Development
For a new product, getting the word out is
very important.
The potential customers need to be notified of
the existence of the original product in the
market, and this will enhance the marketability
of the product and consequently, more profit
to the business.
A business that consistently makes profit
ensures its continuity.
Marketing Strategies and
Development – Continued
The two business strategies will be utilized.
First is advertising which can take many
forms can include print, radio, television, and
the internet.
Secondly, SEO is a way to pick keywords for
your site, and to the site, so it will rank
higher in search results engines. It is also
possible to pay some search engines so that
your website will consistently rank higher in
searches than others.
Concept Development and Testing
Concept Development
This is important to get the feedback their
feedback before rolling the product to a larger
population. It is vital since the initial taste of the
product determines the acceptability of that
product in a broader market. Ziofy mobile device
will be presented to different youth and adult
populations across the USA and other selected
countries outside to test on the product
performance.
Concept Development and
Testing – Continued
Concept Testing
The anticipated buyers will first be
presented with the brand idea. This
will enable them to deal with
intangible attributes of product
development.
Business Analysis
Business needs and solutions to business
problems need to be analyzed in detail. Ziofy
telecommunication has three business needs;
first, to meet the technological needs of a
diverse world population.
Secondly, to generate profit for the company.
After venturing into this idea, the company
must make a profit to sustain future
operations and marketing of the brand that
meets the technical specifications advanced.
Test Marketing
When moving into a new business,
whether it is an existing company or a
new brand, brand identity is a critical
issue.
To acetify the actual marketability of the
product, test marketing is essential. A
market laboratory will be conducted
where the products will be sold in
different shops across the region.
Product Development
The designers will work together to
create an outstanding product; Ziofy
mobile device. Past sales information,
trends, and markdowns are reviewed as
well as information on colour, material
(silicone, gold, silver) and components
the purpose is to present the best
possible product line to the consumer.
Commercialization
This produced will be shipped to countries
outside the United States of America in large
quantities after undergoing process
development and test marketing.
To realize the sale of this product on a
commercial scale, three methods will be
utilized, that is, the use of third party
commercialization, online commercialization
will come in handy and finally, the product
will also be commercialized through search
engine optimization.
CARLA
DEMPSEY
“
APPLIED
MANAGERIAL
MARKETING
11/20/2019
”
INTRODUCTION TO GLOBAL
MARKETING
• Global marketing is an
internationalization strategy.
• The company conceptualizes a
product or service such that it suits the
global consumer requirements.
• The company frames a universal tactic
for planning, production, placement,
and promotion of these products or
services across the globe.
MM GLOBAL
MARKETING
GOALS
• Goal 1- Building brand
awareness.
• Goal 2- Attributing
marketing activities to
revenue generation.
• Goal 3- Develop new
customer.
ATTRIBUTING
MARKETING
ACTIVITIES TO
REVENUE
GENERATION
A first-touch attribution model would assign 100%
of the revenue credit to a single touch, or
interaction, that a lead first meets in their buyer’s
journey.
A linear multi-touch attribution model would
spread this revenue credit evenly across each
touch point along the buyer’s journey (first touch,
lead generation touch, nurture touch and
convert touch) – each would receive 25% of the
credit.
BRAND AWARENESS
UNDERSTAND
YOUR IDEAL
CUSTOMER
GET INTO THE
CONVERSATION
SET A GOAL AND
DETERMINE YOUR
BUDGET
ESTABLISH SOCIAL
MEDIA PRESENCE
DEVELOP A
STRONG
PROPOSITION
OUTSMART YOUR
COMPETITORS
DISCUSSION –
ECONOMIC FACTORS
• Per capita income
• Relevant class structure
• Supply and demand
• Financial transactions and
banking
DISCUSSION –
LEGAL FACTORS
• Laws
• Licensing and
permits
• Tax
DISCUSSION –
TECHNOLOGICAL
FACTORS
• Technology will also be a very
important piece to the puzzle in
a world on innovation.
• Digital Asset Management
(DAM) remains a tactical
challenge.
• Integration of social elements
into a wider campaign remains
a key for many global
marketers.
ECONOMY- MOST CRITICAL FACTOR
Our ability to sell depends
much on people’s income
Prices of other similar products
in the market will affect our
activities and decisions
Distribution of income in a
society also affects the
demand for goods.
International marketing is very different
from domestic marketing.
RECOMMENDATIONS
The main goal of marketing is to
participate from the initial stage of
product conceptualization to
distribution of the product and service.
The purpose of marketing is to increase
the demand for a product, such that
the cost of marketing is more than
covered by the increase in sales (Juma,
2019).
CONCLUSION
The final and most
important goal of
most marketing
campaigns is simply
to sell more stuff.
Everything else is just a milestone
goal of moving people down the
sales cycle like:
• Awareness
• Trust
• First Sale (opening the wallet)
• Loyalty (keep customers)
REFERENCES
• Haseeb. (2017, March 21). PESTLE Analysis of Samsung. Retrieved November
16, 2019, from http://marketingdawn.com/pestle-analysis-of-samsung/.
• Juma, N. (2019, July 22). 60 John F. Kennedy quotes on life, politics, and
greatness. Retrieved from https://everydaypower.com/john-f-kennedyquotes-jfk/.
• The Marketing Environment. (n.d.). Retrieved from
https://class.ctuonline.edu/_layouts/MUSEViewer/Asset.aspx?MID=16328154
&aid=16328170.
Running head: DISCUSSION
1
Discussion
Students’ Name
Institutional Affiliation
DISCUSSION
2
Discussion
Promotion is identified to attempt that is made by different marketers to ensure they
can inform potential customers on the products or services that have been produced to ensure
they persuade the targeted clients and remind the customers on the developed products or
services (Grossberg, 2016). The primary goal of undertaking the right promotional strategy is
to ensure the right audience is intrigued to make a purchase. It is essential when using the
traditional promotional strategies the right personnel is well informed of the products or
service, traditional promotional techniques motivate the customers to try the proposed new
products and services, and they allow the customers to be given the required training on
different products or services that are offered by the company.
The preference to use digital marketing skills is identified to be trending in recent
times on the promotion of different brands with ease (Todor, 2016). Advancement in
technology has provided businesses with an opportunity to continually link up and be close to
their consumers easily with the preference to interact with the consumers primarily via social
media. The number of people who are notably using social media in recent times has
continued to increase with advancement identified in technology (Todor, 2016). Thus, the
preference to use digital marketing should not be locked out and choose to focus only on
traditional marketing. Hence the opportunity to use both digital and traditional marketing
skills will ensure the company gets both benefits.
Some customers are persuaded by either traditional or digital marketing. Thus as a
business, it is essential to ensure both fronts are exploited for maximum benefits to be
attained (Todor, 2016). Over time there has been a preference to use digital marketing to get
new clients, especially youngsters who are always locked on their screen to make purchases
of the products that are being sold. However, to retain the old customers, there is a need to
keep up with the traditional marketing strategies that are identified to be personal and very
DISCUSSION
3
interactive to the clients. Thus it is up to the business to determine which the best marketing
strategy is to use to ensure they attain the desired number of sales they seek to gain from the
market sell they are currently engaged (Todor, 2016). In summary, both traditional and digital
marketing strategies need to be merged to get the best benefits of marketing from both
initiatives.
DISCUSSION
4
References
Grossberg, K. A. (2016). The new marketing solutions that will drive strategy
implementation. Strategy & leadership, 44(3), 20-26.
Todor, R. D. (2016). Blending traditional and digital marketing. Bulletin of the Transilvania
University of Brasov. Economic Sciences. Series V, 9(1), 51.
Memo
Carla Dempsey
12/9/2019
Discussion Board 4
Pricing and Distribution Strategy
Pricing Strategies
MM is striving to produce global products that can be used by consumers across the
globe. The two proposed pricing strategies are geared towards allowing the product to be
identified and owned by different people around the world. Value-Based pricing strategy is
based on the consumer’s perceptive of the product value or services (Liozu, Boland,
Hinterbuber, and Perelli, 2015). Therefore, by undertaking the pricing strategy, the
consumers are the primary aim of the policy, it is essential to check on what the consumer
values. MM ought to focus on unique characteristics and ensure the products are highly
valuable for the products to be considered preferential by the consumers over the other
products offered in the community.
The second pricing strategy is a market penetrating strategy, which is used when
introducing a new product or service to the market (Valeri and Danielis, 2015). The objective
of using this pricing strategy is to attract as many customers as much as possible and ensure
they have been supplied with the best services and products they need with ease. MM is
seeking to venture into new markets, and the best way to ensure the consumers can identify
with the products being sold is they get the opportunity to use penetrating pricing as there is
anticipation the new product demand will be very high. Therefore, the ability to having
significantly high initial sales translated into acceptable profits despite selling the products at
a lower price compared to the potential competitors who are likely to get into the market and
produce similar products.
Distribution Strategies
MM’s global strategy requires that different products are produced for different
markets and are supplied when needed. One of the best ways to ensure the demands and
supply is met is with preference to establish different plants across the nations (Saif, M.
2015). The choice to use these plants will ensure the MM brand is able to stay in the market
for a relatively more extended period compared with the other products.
Global brands are often recognized with the standardization that is put on quality
products and the branding to allow the consumers across the globe when they make the
purchase they are able to appreciate. They are purchasing the outcome of their choice (Saif,
M. 2015). For example, MM can take Coca Cola brand distribution strategy where their
distribution strategy requires all the identified plant sites make the same quality standards of
the products as the head main plant. The ability to ensure there are similar products sold
across the globe will give MM a brand name that will allow the people to resonate. When
making an entry to a new country, it is essential that MM considers conducting extensive
marketing where it gets an opportunity to introduce its products to the people. Additionally,
the preference to make a production from different plants allows the company to release some
pressure from the company plant by having different distribution points. Moreover, the
preference to standardize the products will ensure there are substandard products that are
currently being produced by the inferior companies that can easily be picked by the
consumers and ignored. In summary, MM intent is to be a global brand that will deliver the
best products to the worldwide market and the best prices by using the correct pricing and
distributing strategy
References
Liozu, S., Boland, D., Hinterbuber, A., & Perelli, S. (2015). Mindful Pricing: Transforming
Organizations Through Value-Based Pricing. In Marketing Dynamism &
Sustainability: Things Change, Things Stay the Same… (pp. 412-421). Springer,
Cham.
Saif, N. M. A. (2015). How does marketing strategy influence firm performance?
Implementation of the marketing strategy for firm success. International Journal of
Innovation and Economic Development, 1(3), 7-15.
Valeri, E., & Danielis, R. (2015). Simulating the market penetration of cars with alternative
fuel powertrain technologies in Italy. Transport Policy, 37, 44-56.
…
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