Knowledge and skills leading to mastery of this competency:
a. Distinguish among the various product classifications and how marketers plan product introduction and maintenance.
b. Analyze the role of distribution channels as part of the marketing process.
c. Describe effective pricing techniques as part of the marketing planning process.
d. Discuss the role of service marketing and the unique challenges it presents.
e. Improve competence in identifying global marketing strategies that can lead to success in building international customers and partners.
A product is anything, desired or not, that a person or organization receives in an exchange. The basic goal of purchasing decisions is to receive the tangible and intangible benefits associated with a product. Tangible aspects include packaging, style, color, size, and features. Intangible qualities include service, the retailer’s image, the manufacturer’s reputation, and the social status associated with a product. An organization’s product offering is the crucial element in any marketing mix.
The role of the sales department is to communicate the features and benefits of these products to the target market. Salespeople can make sales dialogue interesting and understandable by developing and incorporating attention-getting sales aids/tools. Types of sales aids/tools include, anecdotes, comparisons, analogies, visual materials, electronic materials, and product demonstrations. Sales tools and visual aids afford the salesperson the capability to present information in a format best suited for the buyer’s communication and learning style. In addition, well-designed visual sales tools and aids maximize the effectiveness of a sales dialogue because they help salespeople capture and hold the buyer’s attention, and boost the buyer’s involvement and understanding. Finally, these tools and aids enhance recall and may increase the credibility of the salesperson’s claims.
For this assignment, view the video Developing and Managing Products. Jim King and his wife discuss how they decided to create the company GaGa’s Inc. using the product Sherbetter. The line expanded from just Lemon to several other flavors as well as Sherbetter bars, the struggles of branding, line extension, and other aspects of the frozen dessert market.
After viewing the video, write a 800-1000 word essay that responds to the questions, “What type of new product is GaGa’s Sherbetter? Why?” Also respond to the following prompt: “what stage in the Product Life Cycle does it seem that GaGa’s is in? Explain.”
APA formatt; 4 scholarly citations; no plagarism
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