FDU Marketing Management Hybrid ?Marketing & Product Life Cycle Essay

User Generated

tgz04

Business Finance

Fairleigh Dickinson University

Description

Marketing Management

Assignment 1

Activity 10

This activity/assignment will help students understand pricing strategies.

Activity: Recall the product life cycle as discussed in Chapter 8 and discuss the pricing strategies followed in each phase of the life cycle.

The assignment is to answer the question provided above in essay form. This is to be in narrative form and should be as thorough as possible. Bullet points should not to be used. The paper should be at least 1.5 - 2 pages in length, Times New Roman 12-pt font, double-spaced, 1 inch margins and utilizing at least one outside scholarly or professional source related to marketing management. The textbook should also be utilized. Do not insert excess line spacing. APA formatting and citation should be used.




Assignment 2

Activity 11

This activity/assignment will help students understand advertising messages and marketing communications.

Activity: Use the Internet to research and identify 10 ads that have used subliminal messages, prepare a report about these ads. Is it very easy for consumers to identify these hidden messages? What effect do they have if any? If not, why do you think advertisers use them?

The assignment is to answer the question provided above in essay form. This is to be in narrative form and should be as thorough as possible. Bullet points should not to be used. The paper should be at least 1.5 - 2 pages in length, Times New Roman 12-pt font, double-spaced, 1 inch margins and utilizing at least one outside scholarly or professional source related to marketing management. The textbook should also be utilized. Do not insert excess line spacing. APA formatting and citation should be used.

Assignment 3

Current and Emerging Technologies.

700 words

Topic: "Protection of patient data has become a critical part of the scope of practice of all healthcare professionals. Routine data breaches underscore the importance of training clinical employees in protecting these data. However, beyond exposure to HIPAA regulations, little is done to educate the healthcare student about the risks and vulnerabilities of the online environment as it pertains to health data" (Swede, Scovetta, & Eugene-Colin, 2018). Search the peer-reviewed literature for examples of this. You may select any topic relating to technology that illustrates the potential for really messing things up. Include, in your description, an analysis of what might have caused the problems and potential solutions to them. Be sure to provide supporting evidence, with citations from the literature. As with the first discussion topic, it is not enough for you to simply create a own posting. You must read the postings of the other members of the class and comment on each of them. Please see Discussion Forum of the class syllabus for additional details on content.

No Plagiarism and Need references under each assignment.

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Explanation & Answer

Attached. Please let me know if you have any questions or need revisions.

Running Head : MARKETING MANAGEMENT

Marketing Management
Student’s Name
Institution Affiliation

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MARKETING MANAGEMENT

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Introduction
Question 1:
For various products to reach the completion stage as finished goods, they undergo
multiple processes to make them what they finally are. Typically, it is common knowledge that
every product produced or manufactured gets into the factory or industry as a raw material.
Different processes are undertaken to finalize and make it a finished commodity which would
be afterwards introduced to the market for various customers to buy. This essay looks at the
product life cycle and some of its different pricing strategies.
The product life cycle is a substantial amount of time various commodities go from
market introduction till the buying of the various shelves. The product life cycle is, therefore,
an essential tool in businesses as it helps marketers, designers and management ( Gupta & Nair,
2020). The different stages in this process provide extensive knowledge and guidance to help
make fair use of the various steps to ensure product success. The product life cycle involves the
efforts of introduction, growth, maturity and decline.
The introduction stage is when the product is first brought to the market. Ideally, sales
are slow as not many people are familiar with the work. If the product is unique, sales would
be much low as there might be no instant demand for the commodity. At this stage, there is a
need for more and comprehensive marketing strategies to help the product to be known by the
various consumers. With the desperation of making sales after incurring high costs of
production, there is a need to set pricing for the product. At this stage, the producer should price
the work low to help the business penetrate the market quickly. Once the company gains a broad
customer base is when he or she can increase the pricing. However, for companies that produced
high prices products, they are advised to do so only when they are sure of the customer loyalty

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and a ready market. At this first stage of the product life cycle; therefore, a producer should set
lowe prices.
In the growth phase of the product, there is a demand for the work, and the commodity
experiences enormous sales. Selling the same product with the exact pricing like that of the
introduction phase would face some setbacks at this point of production. Other competitors
might carefully scan your commodity and note your pricing, and you would be susceptible to
duplications. Competition might creep in as the competitors too would be producing cheap
products. A pricing strategy, therefore, should be formulated to help solve this issue ( He et al
2019). The producer might try convincing his customers why they should resort to his works,
unlike the others'. The pricing strategy at this stage, therefore, would be to lower the prices of
the products or commodities.
In the maturity stage, there are no much sales made in the organization. This is because
most of the loyal customers already have the product and are in use of it. There is no much
demand, therefore. The sales volume is not much, and various businesses resort to making
additions to the already introduced products. The stage has the most competition because once
the products are developed, some turn out to be more unique compared to the competitors'. The
marketing strategies and the uniqueness of the product at this point are, therefore, very essential.
It is advisable, therefore as a pricing strategy to use the competitive pricing strategy. The
competition is seen to be more fierce, and cutting down the prices for the clients would be
advisable. However, this should not be done below the break-even point of the product.
The final stage of the product life cycle is the decline stage. With the fewer demands and
sales, it is upon the business to decide whether or not to discontinue the product. With the
competitors'commodities getting more attention than yours, consumers no longer interested in
the product or the company not profiting from the commodity anymore, it is wise to lower the
product's price ( Ali et al 2019). To increase customer traffic, however, the business can

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introduce discounting strategies. The company would also bundle the product, tagging it along
with other products.
Question 2:
In advertising, subliminal advertising entails the use of visionary or auditory stimulus
that the ordinary conscious mind cannot comprehend often. These advertisements are carried
out mostly on televisions. Advertising should be creative and impactful as it is one of the critical
components in driving various consumers to the different choices they make in terms of
purchasing the product. Subliminal messages in advertising are therefore used to engage
multiple people subconsciously. These advertisements always use colours, words and shapes
that help the customers make little but powerful associations in terms of brand and...


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