GPS Tracker for Children Protection and Safety Product & Service Discussion

Question Description

I don’t understand this Marketing question and need help to study.

1) Based on this week’s readings (Chapters 11, 12) we see the importance of developing new products and services for the economy. “Product” is another component of the “4 P’s”.

Each group should identify the following based on your product/service:

Quality of the product
Product classification – chapter 11
Branding
Packaging and labeling
Product life-cycle

2) Based on this week’s readings (Chapters 13, 14) we look at the next “P” – placement. You can have a superior product or service but if you are not strategic in your distribution failure is likely.

As each group continues with their Marketing Plan, discuss the following:

Channel of distribution
Inventory levels
Storage
Transportation

Not all of these components will be applicable to all groups, but the goal is to start bringing your product/service to life. What/how is it actually going to look like as you bring it to the market?

Initial discussion post is due no later than Thursday at midnight. At least 2 peer replies are due no later than Sunday at midnight. NO discussion posts will be accepted after midnight of that week.

3) Based on this week’s readings (Chapters 16, 17, 18) we dive into the last “P” – promotion. In order to have a successful launch of your product/service, it is critical that your consumer knows about your product and where to purchase it. Seems simple but promotion is often part of a marketing plan that is not given enough thought. Most companies have limited marketing/advertising budgets so every dollar spent needs to have good ROI. This means being smart and strategic about how and where you are promoting.

Each group should be determining the following:

Promotion objectives
Mix of advertising, personal selling, and sales promotion
Product positioning
Strategies for using publicity

Initial discussion post is due no later than Thursday at midnight. At least 2 peer replies are due no later than Sunday at midnight. NO discussion posts will be accepted after midnight of that week

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Marketing 12 Edition: 12TH 19 New Edition ISBN 13: 978-1-337-40758-8 ISBN 10: 1-337-40758-5