Product management offers a host of dilemmas and challenges to marketers. What p

Question

Product management offers a host of dilemmas and challenges to marketers. What products will give us a competitive advantage? Are the new products we are considering in keeping with our core competencies and the culture of the firm? What is the danger of cannibalization? How will consumers perceive our products, and is there a risk that our best and most faithful customers will be turned off by the new products? Often there are more questions than clear answers.

Your job as a marketing director is to determine what products to keep or add to your firm’s line. The decisions you make will impact not only revenues and profits (remembering that these are not the same thing) but also brand image, loyalty, and your competitive position. For our discussion this week, we will be playing the role of a marketing consulting firm hired by Burger King to recommend new products for their menu.

Some members of our team are arguing for healthy options and riding the wave of consumer interest in these products. These advocates claim the firm will not only increase revenues and profits but also enhance their ethical image. Others are taking a more traditional fast food approach and considering new types of burgers and sandwiches. Their contention is that it is not BK’s job to be the health conscience of America, but rather to drive sales and store traffic.

Yet others are reminding these two groups that there may be other alternatives, and we should approach this with a creative and open mind. Your job is to make a recommendation for a menu strategy that will put BK in the best competitive position, taking into consideration revenues, profits, brand image, traffic, existing customers, new customers, and ethics just to name some of the many factors.

Be specific and precise in your recommendation and support it with both facts and reason. Keep in mind this is NOT about your preference—BK is not interested in what you feed your kids but what America feeds theirs. We have a lot of consultants working on this project, so the marketing director needs you to be concise, yet detailed and specific.

Your opening post must be between 300 and 400 words, free from spelling and grammatical errors, and well organized. You must use at least one outside source (excluding your text and the materials posted in the class—No Wikipedia) and cite that source at the end of your post. No more than 10% of your post can be quoted from the source.

Must not be copied from other source...Must be in own words.

Explanation / Answer

The products that meets with the public demand and needs and is also in low of cost will make maximum profit for a company..!!!

Yes the new products totally depnds on culture of a firm..!!

Danger of Cannibilization is that reduction n sales volume,product cost if the same product is available in market at a less cost..!!!

Influencing customers for the product depends on marketing tactics of a company as if the product is introduced wisely it will attratct more customers rather than decreasing the customers..!!

As marketing director of BUrger king I will switch on both healthy as well as fast food in my shop as there are both type of people available in the city and to boost the marketing we have to take this step so that it will attract all the classes of society

As a Manager we should keep the following factors in mind:

1.Situation Analysis – where are we now?

2.Objectives – what do you want to achieve?
3.Strategy – how are you going to get there?
4.Tactics - what are the details of the strategy?
5.Actions – who is going to do what, and by when?
6.Controls – how are you going to measure success?

Also the following things will be keept in mind:

1.Managing the customer relationship

2.Measuring succuess

3.Management of marketing success

4.Managing budgets

Also the department should also be maintained upto a good level so that no mistakes should be there from our department..!!!

If the following factors are kept in mind then we will come up with a huge success..!!!

Now plz.. do rate with 5 star ratings..!!!

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.