We are here with you hands in hands to facilitate your learning & don't appreciate the idea of copying or replicating solutions. Read More>>

Looking For Something at vustudents.ning.com? Click Here to Search

www.bit.ly/vucodes

+ Link For Assignments, GDBs & Online Quizzes Solution

www.bit.ly/papersvu

+ Link For Past Papers, Solved MCQs, Short Notes & More

Suppose you want to start a business of ready-made garments by opening a factory in Faisalabad. Your product will be T-Shirts. There are already three garments manufacturing companies (having the same product) in that area. These companies are doing their business with big foreign buyers like Nike, Puma, D& G, JC Penny, Brands& Fashions, Sports Essentials, and Marks & Spencer etc.

 

1) How you will differentiate your product from your competitors? (5 Marks)

2) What pricing strategy you will adopt to grab the market share from your competitors? (5 Marks)

3) Which channel of distribution you will adopt to deliver your product to foreign customers? (5 Marks)

4)What will be your promotion method to attract the foreign customers toward your products? (5Marks)

+ Click Here To Join also Our facebook study Group.

+ How to Join Subject Study Groups & Get Helping Material?

+ How to become Top Reputation, Angels, Intellectual, Featured Members & Moderators?


See Your Saved Posts Timeline

Views: 309

.

+ http://bit.ly/vucodes (Link for Assignments, GDBs & Online Quizzes Solution)

+ http://bit.ly/papersvu (Link for Past Papers, Solved MCQs, Short Notes & More)

+ Click Here to Search (Looking For something at vustudents.ning.com?)

Replies to This Discussion

plz give me idea of this assignment
tariq bhai  please give me the idea of assignment
1) How you will differentiate your product from your competitors? 
Product: The good, service, or idea that is marketed to fill consumer wants and needs. Improving existing products and developing new products are among the marketer's most important tasks.
Product differentiation: Creation of a product or product image that differs enough from existing products to attract consumers. Differentiation is a source of competitive advantage. Combinations of physical goods and services can also be sources of differentiation.
2) What pricing strategy you will adopt to grab the market share from your competitors? (5 Marks)
Pricing:
 Selecting the most appropriate price at which to sell a product. Lower prices generally lead to higher sales volume, while higher prices generally lead to higher profits per unit. Prices must support a variety of costs, such as the organization’s operating, administrative, and research costs, and marketing cost like advertising and sales salaries
3) which channel of distribution you will adopt to deliver your product to foreign customers? (5 Marks) 
Place:
 Determining the most effective and efficient way to get products from producers to consumers. Distribution also involves choosing which channels of distribution are most appropriate.
4) What will be your promotion method to attract the foreign customers toward your products? (5 Marks)
Promotion:

All of the activities a firm undertakes to communicate and promote its products to the target market. This is clearly the most visible element of the marketing mix.
1) How you will differentiate your product from your competitors?
Differentiating my offering, rather than product. Customers make decisions based on experience and confidence derived from themselves or experts. First they don't want failure or problems. Offering solutions that are similar to many with few differences is only difficult if i haven't explored the client's issues and reasons for choice.
The price of the products should be low as that of other companies. Market Specialty is another differentiating strategy. People are impressed with companies who concentrate on a specified activity or product.
Another way to differentiate is through product Preference. How a Product is made can differentiation. What’s hot in the market can also be a strategy of differentiation. People want to buy what is hot and don’t want to buy what is not.

2) What pricing strategy you will adopt to grab the market share from your competitors? (5 Marks)

Such pricing strategy should be adopt at which the product sale could be maximum, or at which the profit per unit could be maximum. If we keep low price then growth rate of the products will be maximum, and if we keep the price high then the profit rate per unit will be maximum. If I price them too high, I may not sell enough units to stay in business. If I price them too low, I could be leaving money on the table. The market-based pricing strategy aims to solve both of these issues and providing me with the best results.
With this type of pricing strategy, we have to pay attention to the level of price sensitivity of your customers. Depending on business model, I may be better off using a premium pricing model and separating myself from my competitors.

3) Which channel of distribution you will adopt to deliver your product to foreign customers? (5 Marks)
Our company has spent time, money and other resources to identify potential foreign distributors for our products. Now we have to decide which distributors are correct for us. Many people believe that the Internet will eventually eliminate the foreign distributor. But, very few products can be directly sold in foreign markets without a foreign distributor. Our customers expect us to deliver the right product to the right place at the right time. It is generally more efficient for a manufacturer to go through a distributor rather than selling directly to the customer. In the extreme case of Boeing aircraft or commercial satellites, the product is made by the manufacturer and sent directly to the customer’s preferred delivery site. It all depends upon the budget and the conditions of the company that which channel should be adopt.
4) What will be your promotion method to attract the foreign customers toward your products?
We can launch a Web site. Web sites provide your company with worldwide exposure and give your customers convenient access to your services and products. We can host a grand opening or open house. Invite local business owners and residents from surrounding neighborhoods. Provide free merchandise samples, and have plenty of business cards and company brochures on hand. By using traditional advertising methods, such as classified ads, yellow page ads, television and radio spots, and display ads in magazines.
1) How you will differentiate your product from your competitors? (5 Marks)
Product: The good, service, or idea that is marketed to fill consumer wants and
needs. Improving existing products and developing new products are among the
marketer's most important tasks.
i. Product differentiation: Creation of a product or product image that differs enough from existing products to attract consumers. Differentiation is a source of competitive advantage. Combinations of physical goods and services can also be sources of differentiation.

2) What pricing strategy you will adopt to grab the market share from your competitors? (5 Marks)
Pricing: Selecting the most appropriate price at which to sell a product. Lower prices generally lead to higher sales volume, while higher prices generally lead to higher profits per unit. Prices must support a variety of costs, such as the organization’s operating, administrative, and research costs, and marketing cost like advertising and sales salaries
3) Which channel of distribution you will adopt to deliver your product to foreign customers? (5 Marks)
Place (distribution): Determining the most effective and efficient way to get products from producers to consumers. Distribution also involves choosing which channels of distribution are most appropriate.
4) What will be your promotion method to attract the foreign customers toward your products? (5 Marks)
Promotion: All of the activities a firm undertakes to communicate and promote its products to the target market. This is clearly the most visible element of the marketing mix.

Question no 1. How will you differentiate your product from your competitors?        (5 Marks)

                   One of the most important components of successful marketing is to differentiate our product from other competitors. We have to create our products (T- shirts) different enough from the existing products, in the other three garment manufacturing companies in our area, to attract the customers by highlighting these differences in our product. For this purpose we must know that which types of T- shirts will appeal the customers through the market research, through which we'll be able to manufacture our product's design, quality and features according to the customers' taste mixing with our own different and attractive theme, and compel them to leave the other three companies. The other interesting way, to grab the customers' attention to our product, is to provide our product with some free gifts or presenting any interesting scheme for winning the prizes through buying our product.

Question no 2. What pricing strategy you will adopt to grab the market share from your competitors? (5 Marks)

                     The very common strategy adopted by many companies is to set a low price strategy to increase their sales and market shares and once the market share has been captured, the firm will increase their prices. But in this way, firm will lose the profits in case of low price strategy. Therefore we'll adopt a little different from the strategy mentioned above. We'll surely go deep with the low prices to bring new costumers but we'll also be careful about our profit that we don't want to lose. We'll set a sale on some of our specific products to grab the customers but we'll also set our required high prices (which fulfill our profit that we are going to lose in our low prices sale) on the products that we think, would be more demanding, attractive and of high quality according the customers' needs and wants and they will certainly buy them without giving much attention to high prices. We can also use the Odd Even pricing, in which we'll set odd prices for our product. For example we'll set the price 299Rs on a product rather than 300Rs. In this way the customer will have an emotional reaction and he'll tend to think that he is buying the product cheaper than 300Rs.

Question no 3.Which channel of distribution you will adopt to deliver your product to foreign customer? (5 Marks)

                  Product distribution is one of the most important elements in marketing mix. Marketing channels actually pass the product from the producer to the consumer and connect the firm with its customers. We should contact the organization or companies specific for the distribution of products to the foreign customers rather than distributing the products directly to consumers. We can also send our product by Boeing aircraft to the customer at his preferred delivery site. Moreover we can deal with a broker or an agent, who will handle the distribution process and send the product directly to the consumer.

Question no 4. What will be your promotion method to attract the foreign customers toward your products?

                    The success of a business depends on the ability to attract the customers to the product as it is well said that customers are the kings. We have to promote our product to gain the attention of the customers. These are following different methods of promoting our product that we can bring into play.

  • The most common and preferred method is advertisement by using electronic media, T.V., press, outdoor sign posts to catch the attention of the people.
  • Distributing the pamphlets containing the information about the product that are newly launched or the coupons for discount on purchasing some products.
  • Launching a website will provide introduction of the product and easy access of customers to our product from all over the world.
  • Arrangement of the events like exhibition, where we can exhibit our products to the people.

plzz some body do correction. main nay submit karna hay....:(

last assignment main b mujhay achay marks nhi milay........

hania dear ise ziyada material kiya ho sakta hai assignment ka liya... as it is paste nahi karo na

apni adding karo apna lec mai kiya suna kiya parha ...and search in Google just related ideas about assignments ...  BEST OF LUCK ...

 

nhi mujhay confusion tha pricing strategy k baray main as concerned to faislabad specially about odd even pricing strategy or channel of distribution par kuch confusion ho rahi thi k theek hay ya nhi

wese main nay ab submit kar b diya

good attemtpt

hello plz give me assignment solution

 

1st page pa hn to Idea solutions check ......

RSS

© 2019   Created by + M.Tariq Malik.   Powered by

Promote Us  |  Report an Issue  |  Privacy Policy  |  Terms of Service