Reaction to Market Environment Paper

In: Business and Management

Submitted By Deirdramassey
Words 493
Pages 2
UNIVERSITY OF PHOENIX
BRM/353

Your product was just introduced to a big box store. Provide advice to your retailers on how to merchandise your product and brand to maximize sales. The first request would be to know my product – how to use it, maybe taste for themselves. Say it is a new dip for chips, veggies, etc. the other request would be to have an in-store taste test for new consumers – they can have the option to eat it with vegetables, chips and crackers. Another request would be to have a display as consumer enter the store suggesting that the product is a good addition to family gathers, holiday cookouts or during a game party.

Your product has been on the market for a year and a new competitor has introduced a similar product, at a lower price, made in China. Discuss what marketing tools should be used to improve product and brand performance to react to the competition. Suggestions to develop new product features and options as well as create new packaging. Manage to maintain a high level of demand without cutting or discounting prices. Promote a more aggressive advertising campaign to increase brand awareness and preference.

Your product has been identified in a leading consumer reporting magazine as having poor quality; your brand has also come under attack by a consumer advocacy group because of ethical concerns. Nonetheless, demand is at an all time high. How might you react to this situation? I would first get public relations involved to speak on the positive aspects of the business and address the attacks as well as increase customer service to capture consumer issues. Maintaining the demand of the product would be a priority by continuously promoting advertisements.

You have been approached by a service provider to bundle your product with their service product. Develop strategies for enhancing both products by leveraging the…...

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