Author: chris

Product and Price Elements of the Marketing Mix

[Pin It]

The New Product Development Process

In preparation for a presentation to the CEO of the organization next week on a product development strategy, prepare the following paper:

Choose a product (not a service) which means it must be tangible. Prepare a paper addressing the following tasks on your selected product.

Checklist:

Describe your new product. You have many choices. It could be a classically innovative product, new-category entry, an addition to the product line or line extension. It could even include more minor product changes like product improvements, repositioning, or cost reductions.
Discuss the new product development process.
Discuss your new product launch strategy. Recall, launching requires that objectives be set, the strategy be developed, and that the implementation be planned and executed. Implementation is often a key factor in product failure.
Discuss the pricing strategy for your new product
You will provide a 3–5 page (APA formatted) paper with at least three supporting references. You should include at least one illustration which can be included in the body of your paper or appendix

USING THE 4 Ps AT ENERGIZER

The Energizer Bunny is a marketing icon. How many people are not familiar with this marketing campaign? The precursor to the company known today as Energizer was founded by two inventors: the inventor of the battery and the inventor of the flashlight. The synergy should be obvious. This partnership grew into the leading manufacturer and seller of batteries in the world today. Energizer is truly a global company—operating across the globe. Energizer has developed and implemented an outstanding marketing approach to its product lines. In fact, Energizer demonstrates the full range of marketing concepts, including the use of social media and market research in successfully promoting and sustaining a brand.

Advertising Age magazine ranks the brand icon Energizer Bunny as the number five brand icon of the twentieth century. This provides Energizer a competitive advantage in many of its markets. The company is continually involved in new product development through the identification and understanding of consumer needs, including how a person intends to use a battery, in what devices, and the types of users for various products where Energizer batteries can be used.

Energizer has a well-developed and highly effective marketing division that is responsible for helping to ensure the success of current and new products. The video walks the viewer through the four Ps of marketing—product, price, place, and promotion—and shows how Energizer utilizes marketing concepts effectively.

The company views its approach to marketing and selling its product lines as one that is focused on developing, cultivating, and expanding customer relationships. Energizer is a company that has been significantly impacted by the growth of technology and uses this and the growth of the Internet as parts of its overall marketing communications approach to develop strong and lasting relationships with its customers.

The video demonstrates the importance of relationship marketing as a key to Energizer’s success. The complexities involved in the marketing mix, marketing research, and new product development are highlighted through specific examples in the video, such as the new product introduced by the company each summer. We see how the company uses qualitative data such as focus groups and secondary data to test market its product, elicit customer feedback, collect demographic and other data, and match its marketing strategy to be consistent with the appropriate segmentation factors.
THINKING IT OVER

Identify the elements that must be considered in the marketing environment.

Briefly discuss the evolution of marketing at Energizer as described in the video.

The Energizer Bunny is considered a marketing icon. What does this mean?

USING THE 4 Ps AT ENERGIZER

The Energizer Bunny is a marketing icon. How many people are not familiar with this marketing campaign? The precursor to the company known today as Energizer was founded by two inventors: the inventor of the battery and the inventor of the flashlight. The synergy should be obvious. This partnership grew into the leading manufacturer and seller of batteries in the world today. Energizer is truly a global company—operating across the globe. Energizer has developed and implemented an outstanding marketing approach to its product lines. In fact, Energizer demonstrates the full range of marketing concepts, including the use of social media and market research in successfully promoting and sustaining a brand.

Advertising Age magazine ranks the brand icon Energizer Bunny as the number five brand icon of the twentieth century. This provides Energizer a competitive advantage in many of its markets. The company is continually involved in new product development through the identification and understanding of consumer needs, including how a person intends to use a battery, in what devices, and the types of users for various products where Energizer batteries can be used.

Energizer has a well-developed and highly effective marketing division that is responsible for helping to ensure the success of current and new products. The video walks the viewer through the four Ps of marketing—product, price, place, and promotion—and shows how Energizer utilizes marketing concepts effectively.

The company views its approach to marketing and selling its product lines as one that is focused on developing, cultivating, and expanding customer relationships. Energizer is a company that has been significantly impacted by the growth of technology and uses this and the growth of the Internet as parts of its overall marketing communications approach to develop strong and lasting relationships with its customers.

The video demonstrates the importance of relationship marketing as a key to Energizer’s success. The complexities involved in the marketing mix, marketing research, and new product development are highlighted through specific examples in the video, such as the new product introduced by the company each summer. We see how the company uses qualitative data such as focus groups and secondary data to test market its product, elicit customer feedback, collect demographic and other data, and match its marketing strategy to be consistent with the appropriate segmentation factors.
THINKING IT OVER

Identify the elements that must be considered in the marketing environment.

Briefly discuss the evolution of marketing at Energizer as described in the video.

The Energizer Bunny is considered a marketing icon. What does this mean?

assignment you…

[Pin It]

Assignment 2: Job Evaluation at MPBS

Review the team report on MPBS located in the Case Study Overview.

In this assignment you are expected to recommend the most appropriate method of job evaluation to use at MPBS and support your recommendations with your rationale. Your recommendation should consider the organization’s comprehensive job structure with major occupational groups including scientific, administrative, sales, management, and technical. Your rationale must be backed up with support from the text and/or other articles you may have researched.

Your recommendations must cover the following:

Describe your recommended approach and the expected impact of that approach on job performance. Address key HR and compensation issues identified at MPBS.
Differentiate the components that would need to be included if MPBS were to use a point-based method as compared to a ranking and to a classification method.
Provide a list of compensable factors for a point-based method and the factor weights you would suggest if using that method.
Explain how your recommended method of job evaluation aligns with MPBS’s strategic focus.
Describe the key challenges to effective implementation of the recommended approach to job evaluation at MPBS.

To complete this assignment, write a 3–5 page report in Word format and provide rationale and support. Apply APA standards for writing style to your work.

By Wednesday, November 18, 2015, deliver

assignment you…

[Pin It]

Assignment 2: Job Evaluation at MPBS

Review the team report on MPBS located in the Case Study Overview.

In this assignment you are expected to recommend the most appropriate method of job evaluation to use at MPBS and support your recommendations with your rationale. Your recommendation should consider the organization’s comprehensive job structure with major occupational groups including scientific, administrative, sales, management, and technical. Your rationale must be backed up with support from the text and/or other articles you may have researched.

Your recommendations must cover the following:

Describe your recommended approach and the expected impact of that approach on job performance. Address key HR and compensation issues identified at MPBS.
Differentiate the components that would need to be included if MPBS were to use a point-based method as compared to a ranking and to a classification method.
Provide a list of compensable factors for a point-based method and the factor weights you would suggest if using that method.
Explain how your recommended method of job evaluation aligns with MPBS’s strategic focus.
Describe the key challenges to effective implementation of the recommended approach to job evaluation at MPBS.

To complete this assignment, write a 3–5 page report in Word format and provide rationale and support. Apply APA standards for writing style to your work.

By Wednesday, November 18, 2015, deliver your assignment to the M2:

Assignment 2: Job Evaluation at MPBS

Review the team report on MPBS located in the Case Study Overview.

In this assignment you are expected to recommend the most appropriate method of job evaluation to use at MPBS and support your recommendations with your rationale. Your recommendation should consider the organization’s comprehensive job structure with major occupational groups including scientific, administrative, sales, management, and technical. Your rationale must be backed up with support from the text and/or other articles you may have researched.

Your recommendations must cover the following:

Describe your recommended approach and the expected impact of that approach on job performance. Address key HR and compensation issues identified at MPBS.
Differentiate the components that would need to be included if MPBS were to use a point-based method as compared to a ranking and to a classification method.
Provide a list of compensable factors for a point-based method and the factor weights you would suggest if using that method.
Explain how your recommended method of job evaluation aligns with MPBS’s strategic focus.
Describe the key challenges to effective implementation of the recommended approach to job evaluation at MPBS.

To complete this assignment, write a 3–5 page report in Word format and provide rationale and support. Apply APA standards for writing style to your work.

By Wednesday, November 18, 2015, deliver your assignment to the M2:

assignment page length.

The specific course learning outcomes associated with this assignment are:

Recognize the main factors that led to America’s early development.
Identify and discuss the different ways that the heritages of slavery, the Civil War, and Reconstruction have shaped America’s history.
Summarize and discuss the ways that formal policies of government have influenced the direction of historical and social development in the United States.
Examine how changes in social and economic conditions and technology can cause corresponding changes in the attitudes of the people and policies of the government.
Specify ways that women and minorities have responded to challenges and made contributions to American culture.
Use technology and information resources to research issues in American History to 1865.
Write clearly and concisely about American History to 1865 using proper writing mechanics.

Click here to view the grading rubric.

D.Market analysis: Define the target market for your idea, why you think it exists, what you believe to be the size of the market demand for your idea, and who your competitors will be. Discuss how you would bring your product or service to market (how you would go about building or developing your product, service or idea into a real, tangible product or service that customers would want and buy). Perform a S.W.O.T. Analysis.

E.Budget: Create a budget that shows and discuss what it would cost in terms of time and resources to bring it to market and make it available to the public. In doing so, outline your plans to mange revenue (compliance management), manufacture the product or perform the service (including the proposed manufacturing process or method of performing the service) and your projection of the production costs, which may include: material labor, employees, salaries, equipment facility, etc).

F.Requests for proposal (RFP): Include in your plan at least one product request from vendors for equipment you will need for your business. For example, electronic systems are commonly used in healthcare businesses. You can draft a request to review different electronic systems from various vendors that you might use in your business. Be sure to include details on the type of electronic system needed.

G.Discuss risks and or uncertainties within your proposal: Outline what you believe are the most significant risks and uncertainties that you are likely to experience in bringing your idea to market and discuss how you would deal with them.

H.Marketing strategy: Discuss your marketing and sales strategies. In doing so, discuss: Your target market, and how you plan to reach that market (e.g. distribution strategy, pricing strategy, promotion strategy). Discuss how your business will offer a unique value proposition and be able to sustain a competitive advantage in the marke. Discuss your marketing plan and budget to promote the business online or offline.

I.Discuss expected profit and return on investments: Estimate the revenues you expect to earn, as well as the costs and expenses you expect to incur, and the resulting profits you would expect to earn over the first 3–5 years. Remember, even a non-profit business needs to be able to bring in enough revenues to cover its expenses. Estimate the amount of money you think would have to be invested to get your business started.

reasoning).

D.Market analysis: Define the target market for your idea, why you think it exists, what you believe to be the size of the market demand for your idea, and who your competitors will be. Discuss how you would bring your product or service to market (how you would go about building or developing your product, service or idea into a real, tangible product or service that customers would want and buy). Perform a S.W.O.T. Analysis.

E.Budget: Create a budget that shows and discuss what it would cost in terms of time and resources to bring it to market and make it available to the public. In doing so, outline your plans to mange revenue (compliance management), manufacture the product or perform the service (including the proposed manufacturing process or method of performing the service) and your projection of the production costs, which may include: material labor, employees, salaries, equipment facility, etc).

F.Requests for proposal (RFP): Include in your plan at least one product request from vendors for equipment you will need for your business. For example, electronic systems are commonly used in healthcare businesses. You can draft a request to review different electronic systems from various vendors that you might use in your business. Be sure to include details on the type of electronic system needed.

G.Discuss risks and or uncertainties within your proposal: Outline what you believe are the most significant risks and uncertainties that you are likely to experience in bringing your idea to market and discuss how you would deal with them.

H.Marketing strategy: Discuss your marketing and sales strategies. In doing so, discuss: Your target market, and how you plan to reach that market (e.g. distribution strategy, pricing strategy, promotion strategy). Discuss how your business will offer a unique value proposition and be able to sustain a competitive advantage in the marke. Discuss your marketing plan and budget to promote the business online or offline.

I.Discuss expected profit and return on investments: Estimate the revenues you expect to earn, as well as the costs and expenses you expect to incur, and the resulting profits you would expect to earn over the first 3–5 years. Remember, even a non-profit business needs to be able to bring in enough revenues to cover its expenses. Estimate the amount of money you think would have to be invested to get your business started.

reasoning).

D.Market analysis: Define the target market for your idea, why you think it exists, what you believe to be the size of the market demand for your idea, and who your competitors will be. Discuss how you would bring your product or service to market (how you would go about building or developing your product, service or idea into a real, tangible product or service that customers would want and buy). Perform a S.W.O.T. Analysis.

E.Budget: Create a budget that shows and discuss what it would cost in terms of time and resources to bring it to market and make it available to the public. In doing so, outline your plans to mange revenue (compliance management), manufacture the product or perform the service (including the proposed manufacturing process or method of performing the service) and your projection of the production costs, which may include: material labor, employees, salaries, equipment facility, etc).

F.Requests for proposal (RFP): Include in your plan at least one product request from vendors for equipment you will need for your business. For example, electronic systems are commonly used in healthcare businesses. You can draft a request to review different electronic systems from various vendors that you might use in your business. Be sure to include details on the type of electronic system needed.

G.Discuss risks and or uncertainties within your proposal: Outline what you believe are the most significant risks and uncertainties that you are likely to experience in bringing your idea to market and discuss how you would deal with them.

H.Marketing strategy: Discuss your marketing and sales strategies. In doing so, discuss: Your target market, and how you plan to reach that market (e.g. distribution strategy, pricing strategy, promotion strategy). Discuss how your business will offer a unique value proposition and be able to sustain a competitive advantage in the marke. Discuss your marketing plan and budget to promote the business online or offline.

I.Discuss expected profit and return on investments: Estimate the revenues you expect to earn, as well as the costs and expenses you expect to incur, and the resulting profits you would expect to earn over the first 3–5 years. Remember, even a non-profit business needs to be able to bring in enough revenues to cover its expenses. Estimate the amount of money you think would have to be invested to get your business started.