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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:
1. ~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.
2. ~Discuss the new product development process.
3. ~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.
4. ~Discuss the pricing strategy for your new product
5. ~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.
Product and Price Elements of the Marketing Mix – Discussion
Topic 1: Over the years, many famous brands have been repositioned. Some include KFC, Friendly’s, Radio Shack and JC Penny. Using the online library or other scholarly resources, give several examples of brands that have been recently repositioned. How has this been implemented and for what reason?
Topic 2:
Being up to date with current events is an important part of becoming a business professional. In marketing, it is part of an important responsibility to continuously scan the external environment for opportunities and threats.
Visit the Kaplan library and select a current article (no more than one or two years old) on pricing strategies for a small to medium size business. You can access the KU Library in the home area of the course. Be ready to critique the article and discuss what other small to medium size businesses can learn from these strategies identified.
At&T Competition (direct and indirect) and Action Plan
At&t
1/ Competition (direct and indirect) A. Identify competitors from divisions and product lines and markets. B. Identify and compare the strengths and weaknesses of your company and your competitors. C. Compare techniques marketing with those of your competitors.
2/ Action Plan A. List all marketing strategies/activites. B. Prioritize all strategies by levels of importance.