Marketing Management portfolio
Some of the techniques that are mainly used in marketing include the advertisement which can be done in the local newspaper the use of billboard the use of television advertisement just to mention a few. Through advertisement, it does create awareness to the consumer on the availability of the product. In this essay, we shall try to scrutinize the fall of the sale of the then recently launched product Samsung note 7. Literature review Under the literature review, we shall try and check the problem that was experienced by the launching of the Samsung device the Samsung note 7. Which did not stay over three months before it was scraped out of the market? Despite the improvement in the software of the Samsung note 7 in the camera among other software, the production of the Samsung note seven was halted due to some of the effect it had caused.
With the investor wiping out the investment and the losses that might have been caused by the low sale and even the halting of the production of the phone might be one of the few things that have happened in the expense on the reputation of the Samsung. Conclusion With this incident happening it might cause deuteriation in the sale of the Samsung product. With the deuteriation in the sale of the product its to mean that it might cause many changes as the company can land into losses which have some economic implication. Since if the company lands into loses, it might see it unemployment some of the staff since it cannot be in a position to offer all the wages due to decline in the income.
The incident can also be used to explains that there is a fault in one of the departments in the production since before the launching of the product the company should have done some of this test to several products. Not only satisfying the customer but also it shall cause the Samsung market value rise which by so doing there shall be many customers buying their product which shall lead to increase in profits obtained. Company B Under this paper, we shall check on the launch of the product of the media storm which is a company that usually concentrate on production of quality bedding materials such as mattress and pillowcase. In this essay, we shall evaluate on static market analysis of the new product which they are about to launch.
The product seeks to improve the quality of the sleep by having pillows which incorporate some speaker connector for smartphones. The new product shall mainly target the people who happen to have some sleeping disorder and also the middle-aged generation. On the promotion of the product Media storm aim in marketing their product globally by the use of the television and also by the use of radio with that, there shall be a substantive majority which shall be reached by the TV and also the radio hence helping in the creation of awareness about the product. Not only that but also the company plan in the use of advertisement by the use of billboard and even the purpose of the local newspaper.
In addition to that, the use of the company website to market the product can be another way to market the product. With so doing it shall create suspense hence causing the intended audience thus causing them to go and purchase the product. If the product is of the best quality as it shall be described, it shall see many customers buy the product. With so doing they shall in a significant way set a positive attitude to the consumer as the company shall have specified what to expect once you are in a position to buy their new pillow. The company should not undermine the Engel Kollet Blackwell model where the company can be in a position to influence the decision making of the consumer by the use of the initial stage the stage of marketing and advisement.
Since consumers happen to harness more information through the use of newspaper and also the use of other media channel hence if the company shall be in a position to avail the information in this channel, then it means that the consumer shall be in a position to think about the product and act accordingly. This shall make the consumer tend to purchase the product since the information on the product has already be availed. Recommendation During the launch of the product, there should be a risk identification and also mitigation analysis. On the launching of the product, the management should take into consideration the diffusion of innovation. This is to help them to know how easy the customers shall be in a position to adopt the new product into the system.
This shall in a significant way help in shaping their innovation. There are two different type of customer one of them being the early adopter who usually buys the product shortly after the launching. In addition to that, there are the late adopters they are customers who purchase the product days after launching hence when launching the product; the company needs to set specification on the targeted market. com, 2018) References Tuttle, H. Samsung's vertical integration challenge. Risk Management, 63(10), p. , A. F. , Pope-Jones, S. , Sack, A. , Estela, C. and Nguyen, D. The Southwest UK Burns Network (SWUK) experience of electronic cigarette explosions and review of the literature. com. Theory Darley, W. K. , Blankson, C. and Luethge, D. J. Toward an integrated framework for online consumer behavior and decision-making process: A review.
From $10 to earn access
Only on Studyloop