How does innovation change the market? Companies must continually introduce new products. How does product lifecycle affect prices, demand and customer expectations. Strategies for market segmentation and solid customer relationship management are paramount for future success. Chapters 3-6 will guide you with content for this assignment.
The objective of this assignment is – from a management perspective – to identify external and internal marketing metrics which provide a market- based view of company performance. This includes both forward and backward looking metrics.
Continue with the company you chose for the first assignment and apply the following concepts to it.
Here are some parameters to guide you in compiling this paper:
- Product market vs. product life cycle and market potential
- Price performance and value creation – reverse innovation
- Identify value drivers – crowd sourcing
- Market segmentation
- Customer relationship management
- Competitors and their strategies
- Barriers to entry
- Barriers to exit
- Relevant articles posted by faculty
- Other concepts you identify from the text or from current events related to your company of choice and examples from the class discussions on both weekly topics.
See Canvas for uploading instructions and due date.
Font: Times New Roman Size 12, paper length, 5-6 pages. Cover page and reference page are additional pages and should not be included in the page count.
It is expected that papers are written in the third person, contain the proper terminology as used in the text and in class, are spelling and grammatically correct – with a high level of clarity and are referenced appropriately. Refrain from pasting in excerpts from the textbook as this will diminish your grade and could be considered plagiarism – resulting in a failing grade.
Requiered Book: Market Based Management by Roger J. Best