MKT 571 Week 3 DQ
MKT 571 Week 3 DQ
Brand extension is a strategy of using a successful brand name to launch a new or modified product in a new product category. Identify a recent brand extension that you have seen and discuss the (likely) effectiveness of that brand extension. As a marketer, how could you maximize the odds of creating that effectiveness? How does line extension differ? Identify a recent line extension that you have seen and discuss the (likely) effectiveness of that line extension. As a marketer, how could you maximize the odds of creating that effectiveness?
Pick an industry. Classify firms according to the four different roles they might play: leader, challenger, follower, and nicher. How would you characterize the nature of competition? Do the firms follow the principles described in this chapter?
The “form versus function” debate applies in many arenas, including marketing. Some marketers believe product performance is the be-all and end-all. Other marketers maintain that the look, feel, and other design elements of products are what really make the difference.
Take a position: Product functionality is the key to brand success versus Product design is the key to brand success. Back up your choice with two product examples.
Colleges, universities, and other educational institutions can be classified as service organizations. How can you apply the marketing principles developed in this chapter to the University of Phoenix? Do you have any advice as to how it could become a better service marketer?
Some new-products experts maintain that getting close to customers through intensive research is the only way to develop successful new products. Other experts (the late Steve Jobs at Apple was one) disagree and maintain that customers can’t possibly provide useful feedback on what they don’t know and can’t provide insights that will lead to breakthrough products.
Take a position: Consumer research is critical to new-product development versus Consumer research may not be all that helpful in new-product development.
New Product Development Simulation
Based on the results of your decisions in this simulation, what are some of your observations about the process of developing new products?
Product Life Cycle Simulation
Based on the simulation, why is important to revise a marketing strategy through a product’s life cycle?
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