Marjorie Benton

Marketing managers for global organizations

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Introduction

Marketing managers for global organizations are often asked to evaluate the feasibility of new products and services and predict their profitability for the organization. For this task, you will select a business that would like to develop new products and services in order to attain a competitive advantage in the global market. You will first consider the products and services the company currently offers and recommend new products and services that have the most potential for profitability based on your evaluation. You will then identify the target market and consider how you would reach that market using traditional mass media and social media for the launch and beyond.

For example, a natural foods company may need to begin offering an online ordering system to remain competitive. If you discover a market exists for a new natural food product that is desired in other countries but not readily available there, this might be a good product to recommend adding, but you should first determine whether it is feasible.

Select a business from one of the industries listed below:

Note: Please choose a business that can be adapted to a global market. Fictional names should be used. Also, organization-specific data, including financial information, should not be included but should be addressed in a general fashion as appropriate.

Books used:

  • Ferrell, O. C., & Hartline, H. (2022). Marketing strategy, text and cases (8th ed.). Cengage Learning. ISBN: 9780357516300
  • Pride, W. M., & Ferrell, O. C. (2020). Marketing (20th ed.). Cengage Learning. ISBN: 9780357033791

Task 1 Requirements:

A. Develop a proposal for your chosen business’s global strategic marketing plan in which you do the following:

1. Identify two new products and/or services that the company can sell or offer to a global market.

a. Discuss three different methods you used to determine that there is both a need as well as an existing global market for these products and/or services.

b. Explain one competitive advantage that the company will gain by offering these new products and/or services to a global market.

c. Discuss two inherent risks associated with launching the new products and/or services to a global market and how to minimize these risks.

2. Discuss the customer relationship management (CRM) software system you prescribe to track product and/or service inquiries and sales.

a. Explain how the information generated by the CRM software will be used to continue to drive CRM practices and track sales in a global market.

3. Discuss at least one distribution channel for the two new products and/or services.

a. Analyze key considerations for entering a global market (e.g., regional trade alliances, agreements, environmental forces).

b. Analyze how the global supply chain may affect the product or service.

4. Discuss a major pricing strategy (i.e., cost plus pricing, competition-based pricing, break-even-based pricing, penetration-based pricing, premium pricing) aligned to your products and/or services’ position within the overall market strategy of the global marketplace.

a. Identify costs associated with developing and launching the new products and/or services.

b. Evaluate consumer acceptance of the price set for the new products and/or services.

c. Evaluate competitor prices for similar products and/or services.

5. Discuss the promotional strategy you will use to promote your products and/or services in a global market.

a. Identify two mass media and two social media channels you would use to promote your new products and/or services in a global market.

i. Justify why you chose these channels based on market segmentation (e.g., demographics, psychographics, behavioral characteristics)

b. Discuss two sales promotion activities (e.g., coupons, games, contests, sweepstakes) you would use to promote your new products and/or services in a global market.

B. Acknowledge sources, using in-text citations and references, for content that is quoted, paraphrased, or summarized.

Rubric:

A1:NEW PRODUCTS AND/OR SERVICES

  • The 2 new products and/or services are appropriately identified.

A1A:METHODS

  • The provided discussion includes 3 different methods. The discussion is well reasoned and sufficiently supported.

A1B:COMPETITIVE ADVANTAGE

  • The provided explanation includes 1 competitive advantage that the company will gain. The explanation is complete (provides detail on how the company will gain the competitive advantage), clear, and appropriate.

A1C:INHERENT RISKS

  • The provided discussion includes 2 inherent risks associated with the launch and how to minimize the identified risks. The discussion is well reasoned and sufficiently supported.

A2:CUSTOMER RELATIONSHIP MANAGEMENT SOFTWARE

  • The provided discussion of the customer relationship management system is adequate. The discussion is well reasoned and sufficiently supported.

A2A:CRM INFORMATION

  • The provided explanation is complete (provides detail on how the information generated by the CRM software will be used), clear, and appropriate.

A3:DISTRIBUTION CHANNEL

  • The provided discussion of at least 1 distribution channel is adequate. The discussion is well reasoned and sufficiently supported.

A3A:KEY CONSIDERATIONS

  • The provided analysis of key considerations is sufficient. The analysis is well reasoned and sufficiently supported.

A3B:GLOBAL SUPPLY CHAIN

  • The provided analysis of how the global supply chain may affect the product or service is sufficient. The analysis is well reasoned and sufficiently supported.

A4:MAJOR PRICING STRATEGY

  • The provided discussion of a major pricing strategy is sufficient. The discussion is well reasoned and sufficiently supported.

A4A:COSTS ASSOCIATED WITH DEVELOPMENT AND LAUNCH

  • The costs associated with developing and launching the new products and/or services are appropriately identified.

A4B:CONSUMER ACCEPTANCE OF PRICE

  • The provided evaluation of consumer acceptance is sufficient. The evaluation is well reasoned and sufficiently supported.

A4C:COMPETITOR PRICES

  • The provided evaluation of competitor prices is sufficient. The evaluation is well reasoned and sufficiently supported.

A5:PROMOTIONAL STRATEGY

  • The provided discussion of the promotional strategy is sufficient. The discussion is well reasoned and sufficiently supported.

A5A:MASS AND SOCIAL MEDIA CHANNELS

  • The discussion appropriately identifies 2 mass media and 2 social media channels.

A5AI:JUSTIFICATION OF MEDIA CHANNELS

  • The provided justification of why the media channels were chosen is sufficient. The justification is well reasoned and sufficiently supported.

A5B:SALES PROMOTION ACTIVITIES

  • The provided discussion of 2 sales promotion activities is sufficient. The discussion is well reasoned and sufficiently supported.

B:SOURCES

  • The submission includes in-text citations for sources that are properly quoted, paraphrased, or summarized and a reference list that accurately identifies the author, date, title, and source location as available.

Requirements: 10-15

  • hospitality
  • retail
  • transportation

Answer preview

Poorly locked doors give burglars easy access to the business or private property. Therefore, a strong lock can help to thwart burglary activities or intentions. Therefore, the company would like to develop a digital lock system to provide ultimate security against burglars or intruders. The digital lock system will be readily usable in business premises, schools, offices, and residential homes. The second product that the company will produce is the healthy fitness tracker band. The company is aligning with the changing trends in a lifestyle where people worldwide are encouraged to live a healthy lifestyle. In support of a healthy lifestyle, the company will produce a fitness tracker band that will come in different sizes and colors, which will help the users maintain a healthy lifestyle. The company will offer durable and high-quality healthy trackers. The products will come with amazing features to help the users to track their health and provide an on-time report on the phone. The company will test its products

[3685 Words]

Marketing managers for global organizations

 

Marjorie Benton

Competitive and effective in the global market.

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For this journal, first review the Final Project Guidelines and Rubric PDF document and post any questions to the General Questions Topic. Then review the Nimble Storage: Scaling Talent Strategy Amidst Hyper-Growth case study.

In your journal, answer the following questions:

  • What are some common concerns companies have that keep them from being more effective in the global market?
  • In a global market, what should a company consider changing to better embody social and cultural norms and to become a more geocentric organization? Consider possible changes to the company’s technology, interpersonal policies, business practices, or other variables.

For additional details, please refer to the Journal Guidelines and Rubric PDF document.

 
Answer preview

As a matter of fact, the Nimble Storage company has adopted some social and cultural norms that make it a more geocentric organization. For instance, the company has a future projection on its change in technology policy. The Nimble storage management understands that technology influences communication and how they share information. Ford et al. (2018) give an example of effective companies like Nimble storage in the global market, such as Apple, and Alibaba, that embraces technological applications such as Zoom, Slack, and Microsoft Teams to communicate and market their products. Therefore, technology should be a major change for a company to be geocentric. Lastly, the Nimble storage company enacts possible changes to its business practices, such as utilizing and discovering the optimal ways to reach its objectives.

[519 Words]

Marjorie Benton

The advertising and marketing industries study.

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Baby Boomers: From Middle to Older Adulthood

The largest segment of the U.S. population, the “baby boomers,” are moving into older adulthood. The advertising and marketing industries study this age cohort, and it has been increasing in visibility in primetime television, print ads, and in digital advertising, pop-ups, and internet solicitation.

Find at least 4 images or video clips of advertising or other popular media that illustrate this point. Use a caption for each piece of media to explain the advertisements mirror the specific physical and cognitive changes in development referred to in our readings and resources this week. Your captions should combine for a total of no fewer than 500 words.

Use at least 2 resources (other than the images or clips) to support the claims you are making. Cite these using APA formatting. Your references need to relate to concepts learned about middle adulthood and must be scholarly/academic in nature. Use of .com websites is not appropriate. Please use references other than those included in our Lessons to extend your research and knowledge.

Requirements: in description

Answer preview

The advert image depicted above showcases a middle-aged man dealing with hair loss, leading to baldness. In the presented image frame, the man is receiving some form of hair growth treatment at a healthcare facility. Hair loss is another common physical developmental change witnessed during middle adulthood as individuals transition to older adulthood. According to Tyler (2020), the hair growth rate slows as one ages. This is because many hair follicles cease generating new hairs while hair strands become smaller (Tyler, 2020).

Advert 3: Hearing Aid Advertisement

[692 Words]