From the case study, take a position on whether Tropicana did or did not make a major mistake in changing its product packaging
Tropicana’s scenario provides us with some data that it did a major mistake. However, since the case indicates that the market share of Tropicana dropped after the introduction of a Coca-Cola brand known as ‘Simply Orange’, it is imperative to urge that the mistake does not lie in this marketing strategy. It is in the manner the packaging was carried out.
Suggest the next two (2) steps that you believe Tropicana should take in its branding strategy in order to counteract the initial negative response to the new product packaging
The next two (2) steps that Tropicana should take to counteract the negative response of a new product packaging include promoting the product by adopting advertisement messages and providing consumers with psychological benefit (Iacobucci 37). The first step should entail incorporating a picture of a very healthy family, while the second step should include gradually introducing a new packaging in the market. This will help consumers to accept and appreciate the new product systematically.
From the scenario, prioritize the attributes of GoldsReling’s brand from the brand map presented in the scenario according to the attributes that you believe would be most important to the new tablet’s target market
The most critical attribute to consider in relation to the target consumer segment is urbanization. This is primarily because it will help consumers believe that Gold Reiling’s marketers are cognizant of the fact that consumers are not fixed assets, but they respond fervently to innovation.
From the scenario, analyze the goals, product, price, and promotion for the new product launch in each stage of the product life cycle
The goals for the new product launch entail establishing the manner in which the marketers can create consumer benefit. And while the product is influenced by packaging and branding, the pricing strategy involves establishing the price that consumers are ready to pay for it. Promotion includes creating awareness that seeks to highlight the feelings that resonate with the product at hand.
Recommend two marketing tactics and strategies that the marketing intern should consider in order to increase product revenue over time
Firstly, the marketing intern should consider analyzing promotional messages that intend to address both symbolic and utilitarian values of the product. Secondly, the marketing intern should consider the characteristics of different market segments in order to establish a pricing strategy that is in line with each market segment. This is critical in determining product customization, as well as the pricing strategy that should be adopted (Iacobucci 139).
Imagine that your company is a Smartphone manufacturer that is launching a new product. Recommend the approach that you would take in order to brand the new product
The best approach to take while launching a new product in the Smartphone industry is to carry out market research that seeks to establish the knowledge and attitude of consumers towards the product in question. This would help establish how the product relates to the day-to-day lives of the target consumer segment.
Determine the primary way in which you would convey the advantages of your product versus the top retailer in the industry
In order to convey the advantages of the Smartphone explicitly, I would adopt a promotional strategy that would be based on personal communication. This is a priority because personal communication techniques would play a critical role in ensuring that all information regarding the functionality of the Smartphone is articulated.
From the scenario, evaluate the capacity of the most common distribution channels available for the new product launch to provide consumers with easy access to the product. Speculate on the extent to which Golds Reling’s, Inc. could use each channel to meet profit goals
The most common distribution channels for the new product launch, which would help ensure easy access to the consumers, including distributing through online retailers, and chain stores. But even though Golds Reling’s, Inc. has the capacity of selling to diverse distribution channels, its profit goals are limited owing to the fact that consumers get an opportunity for comparing the products and price against the competing brands.
Choose the most beneficial distribution channel and suggest two ways in which this selection could potentially affect consumer adoption of the new product. Provide a rationale for your response
The most beneficial distribution channel would be the firm’s own sales outlet. However, this selection could limit consumer adaptation to the new product in two ways. Firstly, the sales outlets are not readily accessible to all the consumer segments. Secondly, with only a single distribution channel, the firm will not be able to address the dire needs of the consumers owing to presumed standardization of the product.
Imagine that you are a manager at Amazon and you need to present your ideas on ways to improve logistics to increase profitability. Please provide information to say I will make the video
You all know that Amazon is an established company that features in the Fortune 500 list. This is attributed to the fact that Amazon prioritizes the needs of the customers by establishing diverse strategies for creating value. The company has managed to achieve this end by coming up with high-quality websites, which are highly accessible. Moreover, these websites create value for customers through interactive communication between marketers and clients.
Therefore, improving the logistics to increase profitability will be facilitated by the frequent release of performance management reports that are accessible to consumers through a video that is akin to one of the videos from Kaltura website. This strategy will be of paramount importance to the firm’s productivity since it will help to fight against areas of poor performance, and thereby improve the firm’s productivity.
Iacobucci, Dawn. MM: Marketing Management. Mason, Ohio: South-Western, 2014. Print.