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The usefulnes of product life cycle
The usefulnes of product life cycle
The usefulnes of product life cycle
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1. A local supermarket would like to introduce its own brand of paper goods to sell alongside its current inventory. The company has hired you to generate a report outlining the advantages and disadvantages of doing so. Write report. Piggy Wiggly is interested attempting a new marketing campaign designed to increase the revenue of the” Our Family” ultra-paper towels during the upcoming holiday seasons. This will be a marketing campaign for only the “Our Family” ultra-paper towels and will not include any of the other paper products. The ultra-brand paper towels will be a theme based print and will be available only in six or eight roll packaging. The theme ultra-brand based paper towels will contain fall, Thanksgiving, Halloween, and Holiday …show more content…
II. The disadvantages of Our Family them based paper towels. • May encounter higher costs of production due to the theme based paper. • Branded competitors continue to be symbolized as a trusted household product. • Branded competitors paper towels on average are 2- ply and more absorbent and stronger for cleaning up messes. • Many branded competitors are producing environmental friendly paper towels made of recycled materials. 2. Briefly describe the five stages of the product life cycle. The five stages of the product life cycles begins with the Product development stage when the company finds and develops a new product idea. The second stage is the Introduction and is the period of slow sales growth as the product is presented in the market. The third stage is the Growth and is the period of rapid market acceptance and increasing profits. The fourth stage is Maturity and is the period of slowdown in sales growth because the product has achieved acceptance by most potential buyers. The fifth and final stage is Decline and is the period when sales fall off and profits …show more content…
Will include the usage of heavy marketing promotion to entice new business. The promotion will include heavily marketing of services offered and the reduction of overall medical cost for the patients. The marketing mix strategy for the urgent care clinic currently in the mature life cycle stage will be to diversify the brand and models and maximize profit while defending market share. The marketing mix strategy for the community hospital in the decline life cycle stage will be to phase out weak items and reduce to minimal levels. However, the main objective will be to reduce expenditure and milk the brand. Most communities based hospitals are barely able to the keep doors open and are having to merge or experience buyouts by larger facilities. 4. Choose and describe a recent experience that you have had with a provider in the health services industry. Analyze your experience in terms of your expectations and perceptions about each of the five components of service
Nevertheless, it must “defend” its current market share if not increase it, by maintaining premium quality and develop innovative products. The marketing mix strategies will effectively achieve targeted revenue and profitability in the near future.
Competition is a widely known activity amongst health care marketers. Healthcare organizations are constantly in competition at some level from being the most patient centered to the amount of available specialist within their organization. In all industries Rivers & Glover (2008), competition among businesses has long been encouraged as a mechanism to increase value for patients. In other words, competition ensures the provision of better products and services to satisfy the needs of customers. (Rivers et.al 2008 p.627) Small town healthcare facilities are under more pressure than their larger counterparts to effectively compete in this increasing market.
Henry Ford Hospital (2016) is also affiliated with Wayne State University Medical School. The hospital is recognized for clinical excellence and innovation in several fields including: cardiology and cardiovascular surgery, neurology and neurosurgery, orthopedics and sports medicine, organ transplants, and treatment for prostate, breast and lung cancers (Henry, 2016). Marketing is a key aspect of any organization. Marketing is defined as the activities and processes for creating, communicating, delivering, and exchanging offerings for clients, customers, partners, and society as a whole (Rooney, 2009). Specifically, Henry Ford Hospital is a nonprofit organization. Non-profit marketing is defined as a management process of exchanges undertaken by NPOs, and aimed at generating a social benefit to a more or less wider group of society (Garcia & Gonzalez, 2013). Current challenges in marketing that the hospital has will be discussed, as well as how segmentation and target marketing are applied at Henry Ford Hospital. Lastly, how the organization’s services are positioned to meet the demands of the target market will be
The next step is the growth stage. In this stage product growth is monitored and big investments are made. Maturity stage the growth of the outputs is significant. For the company to ensure product survival in the market and gain a competitive advantage over competitors it has to incorporate product differentiation. The final stage involves product decline stage. In this juncture product sale goes down and the product identification
When a business aims to be as successful as possible in selling its products and services, it must examine in detail whether or not the products will be attractive and necessary; if the price is optimal; if the product is being distributed in the best locations; and finally, how interest and awareness can be created for the products. In order for a business to target all of these elements at the right people at the right time, it must employ the right type of marketing mix: Product, Price, Place and Promotion.
Proctor & Gamble understands the high competition that already exists in the toilet paper industry, but feel that new Bounty Toilet Paper will change how this industry is geared. In recent times, toilet paper producers have stressed comfort and style in the production of their products, but as the times have changed, the American public is now more interested in getting the job done in the shortest amount of time with the smallest amount of the product. P&G have produced Bounty Toilet Paper because of this change in the lifestyle of Americans. With this focus on effectiveness and durability, Bounty will go into the new Millennium leading the toilet paper world.
In this unit, we will be discussing real-life healthcare organizations, the 5 P’s of healthcare marketing, and evaluation strategies that may be used to determine marketing potential.
In practice this means that the researchers returned to make contact with respondents, submitting the description of the data and the analysis carried out its assessment. Thus, it consolidated the analysis of data to professionals. So considering all customer trajectory within the hospital, we identified three categories of hospital care processes referred to as: admission, admission and discharge. Each of these processes is composed of different hospital service.
Dell, Tyson, Samsung, and watermelon farms purchase boxes to ship their products to stores and occasionally directly to consumers. Grocery stores and fast food restaurants purchase paper sacks to hold the customer’s goods. McDonalds and Starbucks acquire the coffee cups directly from the manufacturer. Cutsize paper is purchased and distributers, like Wal-Mart, Staples, and Office Max, break the pallets and sale individual reams and cartons to consumers. The vast majority of the buyers of paper are major customers, and they often prefer generic products; therefore purchasers have tremendous bargaining power. Manufacturers attempted to raise prices in the mid 2000’s, but they met with strong opposition and the efforts failed (“Paper business in mature”’, 2013). Even when manufacturers shifted modes and found methods to produce paper more cheaply by increasing productivity as much as 30%; buyers demanded, and received lower prices from the
P&G continued to innovate products that consumers wanted when they revolutionize laundry with a new detergent called Tide in 1946. Tide was seen as the “The Wash Day Miracle” by helping to make laundry faster and easier. Only a few...
This is a nearly 40-minute interview. The object of this interview is the leader of a community medical centre. This medical centre has five physicians, two nutritionists, one occupational therapist, a nurse and three service desk receptionists. This medical centre serves the community of more than five thousand patients now. After the interview, integration of the following eight items in this leader’s characteristics and traits.
As it has been already indicated, this study has examined each of our six research questions via the interviews of colleagues in the health field and through my experiences with my clients.
Mary Wilson was both nervous and excited as she opened her first staff meeting in the marketing department of St. Margaret’s General Hospital (Clow & Baack, 2010, p. 49). Mary is the new Director of Marketing and Communications for St. Margaret’s Hospital and has been tasked with increasing St. Margaret’s Hospitals increased visibility and image in the eyes of the public (Clow & Baack, 2010). Her long term goal is to attract the best possible physicians while increasing use of the hospital’s facilities and attracting more patients (Clow & Baack, 2010, p.49). There are four questions that Mary most look at and address as the new Director of Marketing and Communication for St. Margaret’s. First, what are the image issues for St. Margaret’s Hospital? Second, what are the brand-name issues; and if so should the brand name
Washing machines have become the most popular mechanical device throughout all modern times. “For thousands of years, one of the most tiresome household tasks was the washing of clothes and lines” (Field Enterprises Educational Corporation 45 ). Washing machines are greatly needed in everyday life. Much labor and has been relieved due to the wonderful invention of the washing machine. The washing machine is also a major time saver. Washing machines have developed proficiently throughout all the years and are still developing day by day. From the wash board to the electric washing machine, laundry has truly been transformed in America, as a result, cleaning laundry is nearly effortless.
Consumers have expectations In terms of a good quality product that should be availed at a reasonable price. Consumers don’t only want the business to be socially responsible towards them in this manner of reasonable prices but way beyond this. They should meet the needs of consumers in ways of convenience and appearance. But business should also consider other aspects like environmental impact when packaging is disposed.