Teachers Q:Describe the product life cycle. How does a product develop into a brand and what is the advantage of creating a brand?
Peers A:The life of a product is the period over which it appeals to the customer. The benefits of branding are memorability which comes from reputation and good will, loyalty which comes with positive experiences and memorable brands, familiarity coming from seeing ads, banners and even pens, premium image and price extensions, greater company equity, lower marketing expenses, less risk for com\consumers.
Your Reply to their awser:
Peers Awnser :A product life cycle is a concept that provides a way to trace the stages of a product’s acceptance, from introduction (birth) to its decline (death). The product’s brand identity gives it a unique personality that enables you to control its positioning in the marketplace. When you bring a new product to market, the brand you choose must claim a space in your customer’s subconscious mind that is synonymous with your reputation and the benefits of the product. Branding gives the impression that the business is organized and efficient. Some advantages of brands consist of enhances product recognition, helps build brand loyalty and helps with product positioning.
Your Reply to their Awnser:
NEW QUESTION
Imagine you are a marketing consultant brought in to help a company who has a product that is so successful they cannot keep up with customer demand.
What questions would you ask and what suggestions would you offer for handling this problem/opportunity?
Include in your discussion a statement on opportunities for integrating with other businesses (creating channel relationships) and for managing supply chain and logistics to keep up with demand and still maintain a high standard of quality for the product.
Peer Awnser :Marketing consulting of a popular product is achieved with longevity. When you start to manage a project or creating a product, you must consider everything from the material of the product, where the product will be best marketed, and how can you keep the product popular. By making the product itself and selling it to customers it would help to reduce costs and ensure that resources don’t run low. As far as quality goes, self producing may not be such a great plan, because you may not know as much on higher qualities. Although it seems like just using more money to build the product is useless when you can self produce
You responce:
Your Reply to :Which method would you recommend for the store that can’t keep up with demand?
New Question:
What is social media and what are some of the social media tools used by businesses? Do social media sites provide the same function as corporate websites? Describe the differences and purposes between the two types of websites. Finally, describe e-marketing domains and the challenges that e-commerce presents for the future.
Your awnser :
peers response:Social media is called a two-way street that allows to communicate. When using social media tools in business you need to identitify why you want to manage or monitor these issues and what you will gain from it. Here’s a few questions: what will you accomplish when using social media management has a tool?; what are you really trying to get to?; how much you care about your competitors? and what’s your budget? No, social media sites don’t provide the same funcions as corporate websites because social media use networking to promote individuals and their services and corporate websites enables companies to compete for talent. E-marketing moves marketing strategies via internet or wireless devices to create, distribute, promote, and price goods an services. E-commerce is when you buy and sell your goods and services over the internet, which works with e-marketing.http://webtrends.about.com/od/web20/a/social-media.htm
Your reply to peers response :
New QuestionDiscuss the steps in the marketing process for building profitable relationships with targeted consumers?
Your awnser:
Peers Responce:1.Knowing the market you must know what the customer wants and needs. The customer need would be things like food, clothing, shelter, and insurance. Wants would be things like a car, new appliances, coffee machines, and movies.2.Customers market strategy this would be an act of knowing the demographic area so that you can market the product according to the area buying stats.3.Determine how to service the customers of the demographic area this will help determine ho you will service that area.4.Build a finical relationship with the cliental
Your awser to peers responce :
Your Response:
