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MKT 303: Honors Marketing Theory & Practice

Product & Place Strategies

This section requires you to re-evaluate the material you found for the first assignment. In particular, The MARKETS tab.

Next, check the NEWS tab for the Marketing News  has there been any changes in the ad agency, the campaigns, or target markets?

If you still need more information, check ABI/Inform and Business Insights: Global for articles on brand extensions, new products, etc.

Don't forget that market share and rankings are sections in Business Insights: Global

 

This section requires you to review the material you found for the first assignment. Any articles about new products or bad news such as lawsuits or recalls, are very helpful here.

Go to a local store to look at packaging and presentation, especially in end cap displays. Poll all team members for reactions to the packaging or displays.

If your product is a durable good sold only at specialty retail outlets like a car or motorcycle, notice how you are treated. Do they treat males and females differently? How do they respond to your age or perceived income? Visit these places, not as a team, but as individuals or in pairs. Watch how you dress and the reactions.

Review all the ads you have found. What are your reactions to them? Who is in the ads? What is the perceived income, educational level, or occupation? Is a lifestyle or life stage implied?  Check what you found in the CUSTOMERS tab

This section requires you to review the material you found for the first assignment. Any articles about new products or bad news such as lawsuits or recalls, are very helpful here.

What do you wish this product had?

Did you find any articles announcing new or improved products? Use ABI/Inform and Business Insights: Global to search by company name or by brand and new products.

 

This one really means reviewing all the places you found this for sale: store, online store, Amazon type vendors, direct mail, ebay, etc. Use the evidence you have collected previously for this.

On some corporate and brand web sites you may find a page or parts of a page with some distribution/warehouse information.

Do you see trucks on the road with the company logo? That tells you how much of the distribution channel they may own. We know Wal-Mart owns its warehouses, distribution centers and has its trucks.

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