Marketing Principles

Topics: Marketing, Pricing, Marketing plan Pages: 4 (1223 words) Published: April 25, 2013
Marketing principles: Task 2
2.1 Explain how the vacuum cleaner is developed to sustain a competitive advantage. To sustain competitive advantage for any company so for ACL company developing new vacuum cleaner was an important step. In sustaining competitive advantage, there are 8 stages defined below (new product development, Stage 1: Idea generation- for every organization idea could come from different sources such as: market research, employees, consultants, competitors, customers, distributors etc. ACL has got well experienced design engineers and scientist which were working to create our new vacuum cleaner with special design and use. Stage 2: Idea screening- company choosing best idea for developing product Stage 3: Concept developing and testing- after choosing best idea, there is needed testing with our targeted market, (how they going to like the new idea, will it be benefit for customers, etc.) Stage 4: Marketing strategy and development- this stage includes – marketing strategy for new product, step by step with the marketing mix strategy of new vacuum cleaner, segmentation, targeting, positioning, sales and profits. Stage 5: Business analysis- important is to count all pluses and minuses so we would know before developing the product our costs and sales expectations. Stage 6: Product development- when new vacuum cleaner is developed all tests needed will be done and also presentations which helps to decide about any changes needed. Stage7: Test marketing- ACL testing new vacuum cleaner in chosen area to find out customers response before commercial launch. Stage 8: Commercialization – timing of the launch place etc is needed to plan beforehand.( For ACL this is not the end as we need to continue monitoring customers response, choose the right distribution channels, decide about pricing of new product with help of testing customers.

2.2 Explain how distribution is arranged to provide customers...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Principles of Marketing Research Paper
  • principles of marketing Essay
  • Essay on Marketing Strategy of Vinamilk Corp.
  • Marketing Notes Essay
  • Marketing Concepts Essay
  • Masafi Company Marketing Audit Essay
  • Maggi Marketing Plan Essay
  • Principle of Marketing (Nestle) Essay

Become a StudyMode Member

Sign Up - It's Free