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Supposed you have been hired as a Marketing Manager in a Multinational Company which is
dealing in high tech products. Company wants to launch a cell phone in the market which can
measure the Sugar level and Heart beat of the users. Since, it is a specialty product so it
requires very rational strategic decisions to be made in order to launch in new market. Selected
target market for your company is Lahore. Now you are required to prepare an analysis on the
following Ps of marketing before launching this new product in the market.
 
Product = Specialty  Place = Lahore
Price =?
 
 
Promotion =?
 
* As the target market comprises of the affluent or elites of the city, you need to devise
appropriate plan for this.
 
Requirement
 
(9 Marks)
Price
 
You are required to select the best option and justify your answer
 
Pricing plan:  
 
•  Less sale and high profit margin
•  High sale and less profit margin
 
Pricing strategy: 
 
•  Skimming strategy
•  Penetration strategy
 
Pricing approach: 
 
•  Value exchange = Price
•  Cost plus profit = Price
 (6 Marks)
Promotion
 
You are required to mention the proper plan for the promotion of this product under the
following headings.
 
•  Advertisement strategy 
•  Promotion strategy

 

 

Please Discuss here about this Assignment.Thanks

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plz send us the format so it will b easy for us to understand and make our solution

Semester– Fall 2010

Introductionto Management (MGT211)

AssignmentNo.2

http://www.vustudents.net

Product: Specialty

Place: Lahore

Price

Pricing Plan: Less sale and high profit margin

Pricing Strategy: Penetration

Pricing Approach: Value exchange

Promotion

Advertisement Strategy:  Advertising strategy consists of two major elements:

·        Creating advertising messages

§      Message Strategy.

§      Message Execution.

·        Selecting advertising media The major steps in media selection are:

§      Deciding on reach, frequency, and impact;

§      Choosing among major media types;

§      Selecting specific media vehicles;

§      Deciding on media timing.

Promotion Strategy:  

·        Consumer sales promotion techniques

§      Price Deals

§      Advertising Specialties

§      Coupons

§      Sampling

§      Rebates

§      Premiums

§      Cross-Promotions

§      Contests, Games, Sweepstakes

 

 

 

 

 

 

 

 

 

 

 

Attachments:

hi u mention in price stragey that  penetrating  stragey should be adopted but i guess price skimming stragey we will use because u  less sale and high price..m confused so plz could explain me y?

Thanks Sir.
hi silv
loo ji, yeh assignment to gai :(
:-/

Statement:

Suppose you have been hired as a Marketing Manager………………….before launching this new product in the market.

 

Solution:

Product = Cell phone

Place = Lahore

Specialty = It is a new cell phone which is designed with the modern technology that it can also measure the sugar level and heart beats of the users.

Price = I will consider that price of my product which would be affordable by the customers.

 

Being a Marketing Manager of a company I will do the following steps in order to launch my new product in the market.

 

 

Price strategy:

            Penetration strategy

I will consider the Penetration strategy for the sale of my product. As in penetration strategy it involves the setting of the lower rather than higher prices order to achieve a large, if not domain market share.

In this strategy, as a result of low price, new buyers will get attracted towards the product or the existing buyers will buy more products. It will also promote complimentary and captive products.

Pricing plan:

            High sale and less profit:

I will consider the strategy of high sale and low profit as I want to satisfy my customers so that they may buy coming products of my company. When once my product get saled in a large number the company will get the profit either in a low range but it will get and the customers will get attracted to the upcoming products of the same company.

Pricing Approach:

            Cost plus profit = Price

I will consider this pricing approach because I want to satisfy my customers as well as I want to give the profit to the company. I will consider a price in which my company will cover the cost and will earn the profit as well.

 

Promotion:

            Advertisement strategy:

Advertising is mainly process which makes goods popular. We can also say that advertising is a technique of influencing the minds that is the basic reason because of which I have selected the Advertisement strategy for the promotion of my product.

 

Classification of Advertisement:

            Advertisement can be classified as;

·        Informative advertising

      Informative advertising aims to create awareness and knowledge of new products or new feature of advertising products.

·        Persuasive advertising         

      Persuasive advertising aims to create liking, preferences, conviction and purchase of product.

·        Reminder advertisement

      Reminder advertisement strategy aims to stimulate repeat purchase of product.

Mediums of Advertisement:

            I can use the different mediums for promotion of my product.

            The mediums of advertisement are;

·        TV

TV offers our message sight, sound, motion, color and all the special effects you can afford. It is a powerful medium with sensual impact.

·        Newspapers

Newspaper is one of the oldest media forms and remains very popular. While digital media has cut into overall newspaper circulation, the majority of homes still subscribe to some form of newspapers. I can give ads in the news papers for the promotion of the product.

·        Internet

Ads on the Internet can be interactive. You can request viewer feedback, take orders or answer questions instantly. Internet advertisers can potentially reach a global audience. Aside from language barriers, anyone at any location in the world can access information about your products or services.

·        Agents

Agents can go from door to door for the promotion of the product.

·        Gift schemes

I may offer gifts for the sale of ach of my brand which will be helpful for the sale of my product.

·        Posters

I can also paste the posters in the different areas of the city to promote my product. The posters will have the specialty of the product printed on it.

 

But basic idea behind all these media is how to promote goods. So I will try my level best to promote my product.

See the attached file
Attachments:

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