Principle of Marketing Page 295 Questions: 9-17 Based on concepts discussed in t

Question

Principle of Marketing Page 295

Questions:

9-17 Based on concepts discussed in this chapter, describe the factors that have contributed to 3M's new product success.

9-18 Is 3M's product development process customer centered? Why or why not?

9-19 /considering the product life cycle what challenges does 3M face in managing its product portfolio?

9-20 Are there limits to how broad 3M's product portfolio can grew? Explain.

9-21 is it possible for 3M to maintain steady growth and profitability and raise that growth to much higher levels?

Principle of Marketing Page 446

14-18 which promotional mix elements does Snickers use?

14-19 How does this Snickers campaign demonstrate the characteristics of integration?

14-20 what grade would you give Snickers on integration effectiveness?

14-21 What challenges does Mars Inc. face in maintaining the success it has achieved with the You're not you campaign?

14-22 what recommendations would you make to Mars Inc. for future Snickers promotional efforts?

Explanation / Answer

9-17: The factor's that have contributed to 3M's new product success are - (i) the product was functionally useful while at the same time being functionally different (ii) there was a significant point of difference, which made the product useful for the buyers (iii) there was a proper market and product differentiation and (iv) marketing mix was good

9-18: Yes, 3M's product development process customer centered. This is because the R&D process at 3M is market focused and the company's approach to innovation is customer centric. 3M calls this front-end innovation, a process in which market insights are gathered through market research and then the innovation is done.

9-19: The challenge that 3M is facing is mainly in the "maturity stage" and "decline stage" of a product's lifecycle. The company acts on the product at the end of the growth stage, when the maturity stage starts. At this point in time the company tries to modify its marketing mix, market and product mix.

9-20: No there is no limit to how wide 3M's portfolio can grow. This is because the company makes products that are related as they use 3M's core competence in bonding surfaces together. The set is infinite within which 3M can develop new and related products and make its portfolio grow.

9-21: Yes its possible as long as 3M continues to innovate and uses the right marketing mix in terms of product, price, place and promotion.

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

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