Cal Poly Pomona Product Failure in The Market Paper

User Generated

QvzFhzz

Writing

Cal Poly Pomona

Description

Objective:

The objective of this assignment is to examine the discrepancy between what a company considers as their “the next huge success” and the what the consumers actually “perceive” as desirable.

Instruction:
25 points

Even successful companies and seasoned marketing professionals experience product failures. (e.g. Sony Bean.) When targeting foreign markets, lack of understanding the global consumer behaviors and market environments could be attributed to reasons of such failure.However, even domestic companies marketing to domestic consumers may fail to fully comprehend the consumers.

Research a domestic product that was marketed for the U.S. market that failed in the last 5 years. You may consider:

  • Product/Service that failed within 1 year of launch and totally disappeared
  • Product/Service that realized their shortcoming within short period after launch and altered their product/service and ultimately survived
  • Product/Service that was successful for years but failed to remain relevant and consequently failed

For submission and presentation in class, research the following questions. College level research and critical thinking responses are expected. MLA citation required.

  • Name of the Product/Service that failed
  • Target Market Strategy of the company (exactly whom did the company target)
  • Pricing Strategy utilized
  • Distribution Strategy utilized (Supply Chain if that affected the failure, how the Product/Service was distributed, where the product/service was sold)
  • Promotional Method and Message utilized
  • Cost of Research conducted prior to the launch (assess the company’s commitment to research)
  • Content of Research (did the company ask the right questions to research)
  • Research findings before Launch (was the finding all green light, or did the company ignore any red flags to rush the product launch to garner first mover advantage or other reasons)
  • Your detailed analysis of why the Product failed.

Unformatted Attachment Preview

ASSIGNMENT 1 PRODUCT FAILURES IN DOMESTIC MARKET Objective: The objective of this assignment is to examine the discrepancy between what a company considers as their “the next huge success” and the what the consumers actually “perceive” as desirable. Instruction: 25 points Even successful companies and seasoned marketing professionals experience product failures. (e.g. Sony Bean.) When targeting foreign markets, lack of understanding the global consumer behaviors and market environments could be attributed to reasons of such failure. However, even domestic companies marketing to domestic consumers may fail to fully comprehend the consumers. Research a domestic product that was marketed for the U.S. market that failed in the last 5 years. You may consider: • • • Product/Service that failed within 1 year of launch and totally disappeared Product/Service that realized their shortcoming within short period after launch and altered their product/service and ultimately survived Product/Service that was successful for years but failed to remain relevant and consequently failed For submission and presentation in class, research the following questions. College level research and critical thinking responses are expected. MLA citation required. 1. 2. 3. 4. 5. 6. 7. 8. 9. Name of the Product/Service that failed Target Market Strategy of the company (exactly whom did the company target) Pricing Strategy utilized Distribution Strategy utilized (Supply Chain if that affected the failure, how the Product/Service was distributed, where the product/service was sold) Promotional Method and Message utilized Cost of Research conducted prior to the launch (assess the company’s commitment to research) Content of Research (did the company ask the right questions to research) Research findings before Launch (was the finding all green light, or did the company ignore any red flags to rush the product launch to garner first mover advantage or other reasons) Your detailed analysis of why the Product failed. Ishihara
Purchase answer to see full attachment
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

Attached.

Running head: OUTLINE

Outline
Student’s Name
Institution Affiliations

OUTLINE

2

Product that failed
Samsung Galaxy Note 7


Samsung Galaxy Note 7 is an Android phablet that is developed, designed, and marketed
by Samsung Company.



The products were released in the market in August 2016 as an evolution of Galaxy Note
5.



After the US, announced the recall of Galaxy Note 7 from the market, Samsung
Electronics decided to exchange the affected phones with a new version that used
batteries from different suppliers.

Target Market Strategy of the company


The company produced Galaxy Note 7 targeting smartphone users between the age of 15
and 45 years who are curious about the latest technology.



The product targeted the young population that are technology savvy.

Pricing Strategy utilized


Samsung used skimming and competitive pricing strategy.



In skimming pricing strategy, the company priced Galaxy Note 7 highly to ensure only
small sales were needed to breakeven.



The company use competitive pricing strategy in selling Galaxy Note 7 to compete with
iPhone 7 that Apple Company was planning to launch in the market.

Distribution Strategy utilized


The supply chain did not affect the failure of Samsung Galaxy Note 7 in the market.



The company distributed the product in the US through direct and indirect strategies.

OUTLINE

3

Promotional Method and Message utilized.


Samsung Electronics used heavy advertising strategy through push and pull strategies to
promote Galaxy Note 7 in the US.



The company promoted the product through social media networks such as Twitter and
Facebook, which created a huge pool of customers in the US.



The message that was used in the promotion of Galaxy Note 7 was “the smartphone that
thinks big”.

Cost of Research conducted prior to the launch.


Samsung Electronics Company is one of the technology companies that are highly
committed to research and development before launching a new product.



Before the launch of Galaxy Note 7, Samsung Electronics had spent around $3.3 billion
on research and development.

Content of Research


Samsung chose to invest heavily in mobile innovation technology and research.



The main contents of the research include market expansion, consumer preferences,
product development and design, product pricing, and competitors’ strength.



The team asked the right questions about product improvement, new features, pricing of
the product, consumer preferences, and suggestions for further improvement.

Research findings before launch


Before the launch, researchers had found that Galaxy Note 7 was fit for the global market
and would compete well with the iPhone 7 that was to be launched by Apple Company.

OUTLINE



4

The findings of the company did not give all green light because the c...


Anonymous
Really great stuff, couldn't ask for more.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Related Tags