Marketing 2023 Business & Finance
2023 Part 3 Companies find good ideas by researching competitors products and services Select one consumer product category with
Part 3
Companies find good ideas by researching competitors’ products and services. Select one consumer product category with which you are familiar, either because you or a family member or friend purchase it or use it frequently (for example: shampoos, carbonated beverages, snack foods, baked goods– if you have a question about whether the category qualifies, just ask).
- Suggest one incremental innovation that you would like to see for the product/category chosen. For example, would you prefer a different form of bottling for shampoos? A different flavor for soft drinks—cola flavored chips, for example. Do any of the items in your research have glaring weaknesses as in its cleaning properties, smell, or taste that a company can improve upon?
- Link your suggestion to an unmet consumer need. State why you think others might have this same need?
- Why is competitive research so important for companies to undertake?
Part 4
Last part , you wrote an essay about incremental improvements to existing products and why these improvements might meet unmet consumer needs and attract a segment. This week, your assignment is to describe the product or service attributes of the product/service featured in your marketing plan. Discuss why these attributes were chosen. Be sure that the attributes can be linked back to unmet needs of the targeted segment(s).
Part 5
The opening vignette of this chapter is about Oreo, including its real-time marketing efforts. Read the following very short articles which were the sources for the vignette:
http://www.adweek.com/news/advertising-branding/inside-oreos-adorable-triple-play-fathers-day-150183
http://genius504.rssing.com/browser.php?indx=11035348&item=9
http://archive.indianexpress.com/news/cookie-time/809761/.
In your essay, analyze the effectiveness of one of these marketing campaigns – there are two: The 100th Birthday Celebration and the “Which Part of the Cookie Do you Like?” Consider the following:
- What were the target market(s)?
- Which of the 4 communication objectives (pg. 565) do you think were met? There may be more than one. Support your answer with examples from the campaign.
- Provide an example of how the communication channels were effectively integrated.
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