Chat with AI
Foundations of Marketing 6th Edition by William Pride,Ferrell
Edition 6ISBN: 978-1285429779Foundations of Marketing 6th Edition by William Pride,Ferrell
Edition 6ISBN: 978-1285429779 Exercise 1
Successful companies develop strategies for marketing their products. The strategic plan guides the marketer in making many of the detailed decisions about the attributes of the product, its distribution, promotional activities, and pricing. A clear understanding of the foundations of marketing is essential in formulating a strategy and in the development of a specific marketing plan. To guide you in relating the information in this chapter to the development of your marketing plan, consider the following:
Describe the level of market orientation that currently exists in your company. How will a market orientation contribute to the success of your new product?
The information obtained from these questions should assist you in developing various aspects of your marketing plan found in the "Interactive Marketing Plan" exercise at www.cengagebrain.com.
Describe the level of market orientation that currently exists in your company. How will a market orientation contribute to the success of your new product?
The information obtained from these questions should assist you in developing various aspects of your marketing plan found in the "Interactive Marketing Plan" exercise at www.cengagebrain.com.
Explanation
Verified
Verified
Market orientation approach contributes to the success of any new product. In this approach, goods and products are designed by keeping in mind the customers' requirements. This approach is the best because customers across the world have become very knowledgeable and want better quality and variety. New products must be more sensitive towards the needs of the customers if they want to compete in the market.
The prime example of this approach is the cell phone industry. The mobile phones have adapted quickly to the needs and requirements of the customers. Currently, mobile phones come with so many additional accessories such as camera, internet access, and Bluetooth etc. All these specifications were added into the mobile phones due to the increasing requirements of the customers.
The prime example of this approach is the cell phone industry. The mobile phones have adapted quickly to the needs and requirements of the customers. Currently, mobile phones come with so many additional accessories such as camera, internet access, and Bluetooth etc. All these specifications were added into the mobile phones due to the increasing requirements of the customers.
Foundations of Marketing 6th Edition by William Pride,Ferrell
Why don’t you like this exercise?
Other Minimum 8 character and maximum 255 character
Character 255
