Peer Review and Video Review 3W homework help
Peer Review and Video Review 3W homework help
Guadalupe Work
1. What factors would go into the decision to co-promote the products with a special display versus creating a new product?
There are a lot of factors that go with co-promoting and creating a new product. With co-promoting the customers are already familiar with the original branding. It can also decrease cost in promotion if you co-promote. If a new product is created it might make customers second guess whether or not they should stick to the same product because it was altered. It might push them to go to different products. “When creating a new product you have to ensure that it meets customer needs. Not only must you meet your customers’ needs, you have to do so in a way that is better than the alternatives offered by the competition (Develop new).” As any new product that enters the market. You run the risk of the product failing. You have to know what the customers want and market the products correctly in order to succeed.
2. If you created a new product by putting a small can of chicken into a box with the pasta, should the box carry the Moricci name? Or should it be a new product line altogether? Should the can still be labeled as Puritan?
If I were to create a new product by putting a small can of chicken into a box with the pasta. I believe it should not have the Moricci name because it was a big change to the product. It was changed from a small packet of pasta as a side dish to a main dish so there should be a new product line. The product shout shouldn’t be labeled as Puritan because that is a completely different product line of Del Sol.
Reference:
Develop New Products and Services (n.d.). Retrieved from: https://www.infoentr (Links to an external site.) neurs.org/en/guides/develop-new-products-and-services/
Andrew Work
1. What factors would go into the decision to co-promote the products with a special display versus creating a new product?
The key factors that go into co-promoting products are how well the products sell. Mary needs to compile some statistics on how well Moricci chicken marsala sells. What areas it does really and where it does poorly. Mary also needs to compile statistics for where Puritan chicken sells well and where it doesn’t sell so well. Mary could take that research and figure out where to launch her co-promotion of the Moricci chicken marsala and Puritan chicken. The factor that would go into co-promoting the two separate products together would be product recognition, and if these two products sell well individually. In order to create a new product, I would want a focus group with a good, cross sectional demographic of my intended market. I would survey them on packaging, pricing, taste, and overall quality. I would then adjust the product per their suggestions. I would then focus on launching commercials and an aggressive advertising campaign to ensure initial sales are satisfactory. The main factor that becomes an issue with creating and launching a new product is the overall cost of doing so. New marketing, packaging, and distribution will all cost Del Sol more money.
For me, I am stuck on brand recognition. I go with the brands I know, and it takes a miracle for me to try something new. Most of my friends also look for the products they know. Therefore, I feel that Mary should co-promote Moricci noodles with Puritan canned meats. The loyal customers will continue to support these products, and still be able to identify with the brands.
2. If you created a new product by putting a small can of chicken into a box with the pasta, should the box carry the Moricci name? Or should it be a new product line altogether? Should the can still be labeled as Puritan?
If I created a new product by placing a can of chicken into a container with the pasta, I would evaluate both brands on how well they sell. If Moricci outsells Puritan, then the product would carry the Moricci name. If Puritan outsold Moricci, the product would be labeled Puritan with the can labeled as Puritan as well. If neither sold well, I would create a new product line.
Works Cited:
McConnell, C. R., Brue, S. L., & Flynn, S. M. (2013). Microeconomics: brief edition. New York: McGraw-Hill/Irwin.
VIDEO
Directions
View the video in chapter 5 titled, Target Market for Yogurt Sellers (Links to an external site.) and provide a few brief comments with respect to its relevancy to this unit’s marketing concepts.
Describe the ways in which markets are segmented.
https://www.youtube.com/watch?v=qMRDLCR8vAE&feature=youtu.be&t=171
