Choose a company’s product and submit a detailed analysis of the product.
All of us have a perspective of marketing from the role of a consumer, but have you ever thought about the media and messages behind the products and services you use every day? Many people think marketing means personal selling. Others think it means advertising. Still others believe marketing has to do with making products available in stores, arranging displays, and maintaining inventories of products for future sales. Actually, marketing includes all of these activities and more.
Effective marketing begins with great products. The central focus of a marketing program will be on a product for which the integrated marketing effort will summarize the essence of that product. All of this will include the company, competition, and customer requirements. Design, product positioning, and other elements are part of product line management’s efforts to maintain a unique set of values in the customer’s mind, either carving out a niche or maintaining market share leadership against the onslaught of competitive products.
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:
• Competency 1: Examine the basic marketing models for a business or organization.
o Address assessment purpose in a well-organized text, incorporating appropriate evidence and tone in grammatically sound sentences.
• Competency 3: Examine the relationship of basic marketing strategies to business success.
o Evaluate product strategies to business success.
• Competency 4: Apply effective marketing planning and implementation.
o Describe competition for product and the marketing environment.
o Discuss branding of the product, including intended audience and product positioning.
o Describe the product and their target market.
Questions to Consider:
As you prepare to complete this assessment, you may want to think about other related issues to deepen your understanding or broaden your viewpoint. Consider the questions below and discuss them with a fellow learner, a work associate, an interested friend, or a member of your professional community. Note that these questions are for your own development and exploration and do not need to be completed or submitted as part of your assessment.
Whether you realize it or not, marketing affects your everyday life in some manner. Companies are constantly using marketing messages to try to grab your attention and prompt a response. For this activity, for a couple of days pay attention to the companies trying to attract your attention. Watch your mail, email, phone calls, and TV advertisements.
• Who is marketing to you?
• Do you agree you are their target market?
• What do you think is the intent and purpose of their marketing efforts?
Why do you pick some of the brands that you do? How are various brands categorized and prioritized in our minds and how do they affect our purchase decisions? Many factors lie behind our product selections. It could be habit, reputation in the marketplace, or even a purchase selection influenced by social media. Consider your own buying habit and product choices: Why do you choose the product and brands that you use every day? Consider your own buying habits as you walk through your home. Look at the brands you purchase, potentially brands you have bought for years. There is probably a reason why you selected these products versus the competition—and that isn’t by accident.
Companies have a specific product strategy for each of their products and how that message is communicated to you, the target market. How do the brands consumers select position themselves in the market? That is, how does that brand compare to others in the mind of the consumer? This is also a very deliberate act on the part of the company. The central focus of a marketing program will be on a product or service for which the integrated marketing effort will summarize the essence of that product or service. All of this will include the company, competition, and customer requirements. Design, product positioning, and other elements are part of product line management’s efforts to maintain a unique set of values in the customer’s mind, either carving out a niche or maintaining market share leadership against the onslaught of competitive products
This assessment allows you to analyze in depth a product of your choice. You will be able to look in a detailed manner at how a company maximizes the branding of the product, the competition, and how the company positions the product in the marketplace.
Pick a company that makes or sells products, not a service-oriented company. Use the same company for all assessments in this course. Try to go beyond the typical consumer electronic offerings, such as Apple. If you are in doubt about your chosen company but if it will work for the project, please ask your faculty member.
As an attachment to this assessment, submit your analysis of the first P (product) for your chosen company’s product. The central focus of a marketing program is the product. It is the sole basis and driving force behind all marketing activities and what excites a target market. Your product analysis should include the company, competition, and target market requirements. In your analysis, evaluate the following:
• Analyze the product and the company’s primary target market. What are the niche characteristics of the product and the traits of the primary target market?
• Analyze the branding of the product, including the intended audience and the product positioning. What influence, if any, does the brand have on its product category?
• Analyze the competition for the product, and the overall marketing environment.
• Synthesize product strategies for the company to achieve business success. Why will those strategies yield success? What would you recommend the company do in terms of this product to assure its long-term success?
• Cite any resources you use.
• Be sure your analysis presents a focused purpose through strong organizational skills. Also be sure it presents evidence through strong paraphrasing/summarizing and appropriate tone and sentence structure.
• Written communication: Communication should be clear and well organized, and support a central idea, with no technical writing errors, as expected of a business professional.
• References: References and citations are formatted in a consistent style, with a preference for using APA style and formatting.
• Number of resources: Use a minimum of three scholarly resources related to the content of the assessment.
• Length of paper: Approximately 3–4 typed, double-spaced pages, in addition to the title and references pages.
• Font and font size: Times New Roman, 12 point.
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