devry busn319 week 3 and week 4 discussions latets july 2015

| June 13, 2016

Question
week 3

Understanding Consumers Using Research (graded)
Companies want to make the best marketing decisions possible regarding which customers to pursue, which products or services to introduce or promote, where to sell their products or services, and at what price. Although not perfect, the use of market research reduces some risk. Suppose you want to open a bow tie shop in Washington, D.C. What information would you want to know before funding such a project? How would you find that information?

STP: Segmentation, Targeting, and Positioning (graded)
Occasionally, a student will suggest that his or her product or service is universally needed, such as providing a haircut. Therefore, they plan to target everyone. Why is this not a good idea? What criteria should be used to determine which market segment(s) to target?

week 4

Product Lifecycle (graded)
Products, like people, are viewed as having a life cycle. Product life stage cycles include (a) Introduction, (b) Growth, (c) Maturity, and (d) Decline.

What Life stage would you say the following items reside?

Canon digital cameras

Hand-held manual can openers

HP tablet computers

What marketing strategies would you suggest to these companies?

Branding (graded)
Some have said that a brand is a promise. What does that mean and why is having a strong brand an advantage to a company and to the consumer?

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