Premium Essay

Mkt 571 Week 3 Identify the Steps of Product Development

In:

Submitted By hwsoloutions
Words 454
Pages 2
MKT 571 WEEK 3 IDENTIFY THE STEPS OF PRODUCT DEVELOPMENT

A+ Graded Tutorial Available At: http://hwsoloutions.com/?product=mkt-571-week-3-identify-the-steps-of-product-development Visit Our website: http://hwsoloutions.com/
Product Description
MKT 571 Week 3 Identify the steps of product development, Example: Swazzi,Inc. Brand introduces a Spring Line of premium-priced women clothing.

1.Idea screening narrows down all ideas into one big picture; use sequencing steps to develop product line
2.a “real, win, worth it” (R-W-W) framework : Real need/want for product? Win over customer’s (competitive advantage)? Worth calculated in profit margin (growth strategy)

“Back to Carnaby Street” retro line inspired by the mod clothing of 1960s London Target market: 27-42 demographic, and especially in the upper incomes Swazzi expects a rate of return (e.g. profit margin) between 35% and 45%
2.Simulation options Price= Price is a factor that should be considered at this time. It’s a part of the product design, especially in fashion. REAL= Reliable industry data showing current customer clothing preferences à Carnaby Street. WIN (competition)= No (kept product line despite anticipated release of other chains). Swazzi’s high end clothing line of silks and suede is sufficiently differentiated such that any impact by a competitor would be negligible. WORTH= PRICE AND PROFIT MARGIN: Price is crucial to determining profit. If a new product will ultimately prove to be unprofitable, you want to find that out as soon as possible. SUSTAINABLE ADVANTAGE: The last 50 years have shown that periodic interest by the general public in fashions of the 1960s can be substantial, and financially lucrative. (Pearson/Prentice Hall, 2012). Brands identify the source or maker of a product and allow consumers to assign responsibility for its performance to a

Similar Documents

Premium Essay

Mkt 571 Week 3 Identify the Steps of Product Development

...a++paper;http://www.homeworkproviders.com/shop/mkt-571-week-3-identify-the-steps-of-product-development/ MKT 571 WEEK 3 IDENTIFY THE STEPS OF PRODUCT DEVELOPMENT MKT 571 Week 3 Identify the steps of product development, Example: Swazzi,Inc. Brand introduces a Spring Line of premium-priced women clothing. 1.Idea screening narrows down all ideas into one big picture; use sequencing steps to develop product line 2.a "real, win, worth it" (R-W-W) framework : Real need/want for product? Win over customer’s (competitive advantage)? Worth calculated in profit margin (growth strategy) "Back to Carnaby Street" retro line inspired by the mod clothing of 1960s London Target market: 27-42 demographic, and especially in the upper incomes Swazzi expects a rate of return (e.g. profit margin) between 35% and 45% 2.Simulation options Price= Price is a factor that should be considered at this time. It's a part of the product design, especially in fashion. REAL= Reliable industry data showing current customer clothing preferences à Carnaby Street. WIN (competition)= No (kept product line despite anticipated release of other chains). Swazzi's high end clothing line of silks and suede is sufficiently differentiated such that any impact by a competitor would be negligible. WORTH= PRICE AND PROFIT MARGIN: Price is crucial to determining profit. If a new product will ultimately prove to be unprofitable, you want to find that out as soon as possible. SUSTAINABLE ADVANTAGE:...

Words: 444 - Pages: 2

Premium Essay

Mkt 571 Week 1 – 5 Quiz Latest

...MKT 571 WEEK 1 – 5 QUIZ LATEST To buy this click here http://www.coursehomework.com/product/mkt-571-week-1-5-quiz-latest/ Contact us:+1 315-750-4434 help@coursehomework.com MKT 571 WEEK 1 - 5 QUIZ LATEST MKT 571 Week 1 Quiz 1. Costco is able to keep its inventory expenditure relatively low through its management technology and cutting-edge point-of-sale inventory management technology. As a result, Costco is able to pass these savings on to consumers in the form of low prices. This strategy is best described as 2. In the U.S., consumer expenditures on homes and other large purchases tend to slow down during a recession because 3. The Soccer World Cup is promoted aggressively to both companies and fans. This is an example of marketing a(n) 4. One of the most critical steps in the defining process of market research is 5. Which of the following industries is most likely to use database marketing? 6. Which of the following statements demonstrates behavioral loyalty towards a brand? 7. Which strategy does this exemplify? Kayak and Orbitz provide their customers with a variety of travel options including flight reservations, vacation packages, flight and hotel options with or without car rentals, and cruise offerings 8. Which of the following is correct about marketing management? 9. Which market do customers who have purchased and are driving Audi automobiles represent? 10. A company's sales potential...

Words: 2312 - Pages: 10

Premium Essay

Mkt 571 Week 1 - 5 Quiz - Latest 2014

...MKT 571 Week 1 - 5 Quiz - Latest 2014 IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://hwnerd.com/MKT-571-Week-1-5-Quiz-Latest-2014-1131.htm?categoryId=-1 If You Face Any Problem E- Mail Us At Contact.Hwnerd@Gmail.Com MKT 571 Week 1 Quiz • 1. Costco is able to keep its inventory expenditure relatively low through its management technology and cutting-edge point-of-sale inventory management technology. As a result, Costco is able to pass these savings on to consumers in the form of low prices. This strategy is best described as • 2. In the U.S., consumer expenditures on homes and other large purchases tend to slow down during a recession because • 3. The Soccer World Cup is promoted aggressively to both companies and fans. This is an example of marketing a(n) • 4. One of the most critical steps in the defining process of market research is • 5. Which of the following industries is most likely to use database marketing? • 6. Which of the following statements demonstrates behavioral loyalty towards a brand? • 7. Which strategy does this exemplify? Kayak and Orbitz provide their customers with a variety of travel options including flight reservations, vacation packages, flight and hotel options with or without car rentals, and cruise offerings • 8. Which of the following is correct about marketing management? • 9. Which market do customers who have purchased and are driving Audi automobiles...

Words: 2322 - Pages: 10

Premium Essay

Mkt 571 Week 1 - 5 Quiz Latest Mkt 571 Week 1 Quiz

...MKT 571 Week 1 - 5 Quiz Latest MKT 571 Week 1 Quiz IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://www.hwspeed.com/MKT-571-Week-1-5-Quiz-Latest-12300909.htm?categoryId=-1 If You Face Any Problem E- Mail Us At JOHNMATE1122@Gmail.Com 1. Costco is able to keep its inventory expenditure relatively low through its management technology and cutting-edge point-of-sale inventory management technology. As a result, Costco is able to pass these savings on to consumers in the form of low prices. This strategy is best described as 2. In the U.S., consumer expenditures on homes and other large purchases tend to slow down during a recession because 3. The Soccer World Cup is promoted aggressively to both companies and fans. This is an example of marketing a(n) 4. One of the most critical steps in the defining process of market research is 5. Which of the following industries is most likely to use database marketing? 6. Which of the following statements demonstrates behavioral loyalty towards a brand? 7. Which strategy does this exemplify? Kayak and Orbitz provide their customers with a variety of travel options including flight reservations, vacation packages, flight and hotel options with or without car rentals, and cruise offerings 8. Which of the following is correct about marketing management? 9. Which market do customers who have purchased and are driving Audi automobiles represent? 10. ...

Words: 2320 - Pages: 10

Premium Essay

Mkt 571 Week 1 - 5 Quiz - Latest 2014

...MKT 571 Week 1 - 5 Quiz - Latest 2014 IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://hwnerd.com/MKT-571-Week-1-5-Quiz-Latest-2014-1131.htm?categoryId=-1 If You Face Any Problem E- Mail Us At Contact.Hwnerd@Gmail.Com MKT 571 Week 1 Quiz • 1. Costco is able to keep its inventory expenditure relatively low through its management technology and cutting-edge point-of-sale inventory management technology. As a result, Costco is able to pass these savings on to consumers in the form of low prices. This strategy is best described as • 2. In the U.S., consumer expenditures on homes and other large purchases tend to slow down during a recession because • 3. The Soccer World Cup is promoted aggressively to both companies and fans. This is an example of marketing a(n) • 4. One of the most critical steps in the defining process of market research is • 5. Which of the following industries is most likely to use database marketing? • 6. Which of the following statements demonstrates behavioral loyalty towards a brand? • 7. Which strategy does this exemplify? Kayak and Orbitz provide their customers with a variety of travel options including flight reservations, vacation packages, flight and hotel options with or without car rentals, and cruise offerings • 8. Which of the following is correct about marketing management? • 9. Which market do customers who have purchased and are driving Audi automobiles...

Words: 2322 - Pages: 10

Premium Essay

Mkt 571 Week 1 - 5 Quiz - Latest 2014

...MKT 571 Week 1 - 5 Quiz - Latest 2014 IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://hwnerd.com/MKT-571-Week-1-5-Quiz-Latest-2014-1131.htm?categoryId=-1 If You Face Any Problem E- Mail Us At Contact.Hwnerd@Gmail.Com MKT 571 Week 1 Quiz • 1. Costco is able to keep its inventory expenditure relatively low through its management technology and cutting-edge point-of-sale inventory management technology. As a result, Costco is able to pass these savings on to consumers in the form of low prices. This strategy is best described as • 2. In the U.S., consumer expenditures on homes and other large purchases tend to slow down during a recession because • 3. The Soccer World Cup is promoted aggressively to both companies and fans. This is an example of marketing a(n) • 4. One of the most critical steps in the defining process of market research is • 5. Which of the following industries is most likely to use database marketing? • 6. Which of the following statements demonstrates behavioral loyalty towards a brand? • 7. Which strategy does this exemplify? Kayak and Orbitz provide their customers with a variety of travel options including flight reservations, vacation packages, flight and hotel options with or without car rentals, and cruise offerings • 8. Which of the following is correct about marketing management? • 9. Which market do customers who have purchased and are driving Audi automobiles...

Words: 2322 - Pages: 10

Premium Essay

Mkt 571 Week 1 - 5 Quiz - Latest 2014

...MKT 571 Week 1 - 5 Quiz - Latest 2014 IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://hwnerd.com/MKT-571-Week-1-5-Quiz-Latest-2014-1131.htm?categoryId=-1 If You Face Any Problem E- Mail Us At Contact.Hwnerd@Gmail.Com MKT 571 Week 1 Quiz • 1. Costco is able to keep its inventory expenditure relatively low through its management technology and cutting-edge point-of-sale inventory management technology. As a result, Costco is able to pass these savings on to consumers in the form of low prices. This strategy is best described as • 2. In the U.S., consumer expenditures on homes and other large purchases tend to slow down during a recession because • 3. The Soccer World Cup is promoted aggressively to both companies and fans. This is an example of marketing a(n) • 4. One of the most critical steps in the defining process of market research is • 5. Which of the following industries is most likely to use database marketing? • 6. Which of the following statements demonstrates behavioral loyalty towards a brand? • 7. Which strategy does this exemplify? Kayak and Orbitz provide their customers with a variety of travel options including flight reservations, vacation packages, flight and hotel options with or without car rentals, and cruise offerings • 8. Which of the following is correct about marketing management? • 9. Which market do customers who have purchased and are driving Audi automobiles...

Words: 2322 - Pages: 10

Premium Essay

Mkt 571 Week 1 - 5 Quiz - Latest 2014

...MKT 571 Week 1 - 5 Quiz - Latest 2014 IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://hwnerd.com/MKT-571-Week-1-5-Quiz-Latest-2014-1131.htm?categoryId=-1 If You Face Any Problem E- Mail Us At Contact.Hwnerd@Gmail.Com MKT 571 Week 1 Quiz • 1. Costco is able to keep its inventory expenditure relatively low through its management technology and cutting-edge point-of-sale inventory management technology. As a result, Costco is able to pass these savings on to consumers in the form of low prices. This strategy is best described as • 2. In the U.S., consumer expenditures on homes and other large purchases tend to slow down during a recession because • 3. The Soccer World Cup is promoted aggressively to both companies and fans. This is an example of marketing a(n) • 4. One of the most critical steps in the defining process of market research is • 5. Which of the following industries is most likely to use database marketing? • 6. Which of the following statements demonstrates behavioral loyalty towards a brand? • 7. Which strategy does this exemplify? Kayak and Orbitz provide their customers with a variety of travel options including flight reservations, vacation packages, flight and hotel options with or without car rentals, and cruise offerings • 8. Which of the following is correct about marketing management? • 9. Which market do customers who have purchased and are driving Audi automobiles...

Words: 2322 - Pages: 10

Premium Essay

Mkt 571 Week 1 - 5 Quiz - Latest 2014

...MKT 571 Week 1 - 5 Quiz - Latest 2014 IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://hwnerd.com/MKT-571-Week-1-5-Quiz-Latest-2014-1131.htm?categoryId=-1 If You Face Any Problem E- Mail Us At Contact.Hwnerd@Gmail.Com MKT 571 Week 1 Quiz • 1. Costco is able to keep its inventory expenditure relatively low through its management technology and cutting-edge point-of-sale inventory management technology. As a result, Costco is able to pass these savings on to consumers in the form of low prices. This strategy is best described as • 2. In the U.S., consumer expenditures on homes and other large purchases tend to slow down during a recession because • 3. The Soccer World Cup is promoted aggressively to both companies and fans. This is an example of marketing a(n) • 4. One of the most critical steps in the defining process of market research is • 5. Which of the following industries is most likely to use database marketing? • 6. Which of the following statements demonstrates behavioral loyalty towards a brand? • 7. Which strategy does this exemplify? Kayak and Orbitz provide their customers with a variety of travel options including flight reservations, vacation packages, flight and hotel options with or without car rentals, and cruise offerings • 8. Which of the following is correct about marketing management? • 9. Which market do customers who have purchased and are driving Audi automobiles...

Words: 2322 - Pages: 10

Premium Essay

Mkt 571 Week 1 - 5 Quiz - Latest 2014

...MKT 571 Week 1 - 5 Quiz - Latest 2014 IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://hwnerd.com/MKT-571-Week-1-5-Quiz-Latest-2014-1131.htm?categoryId=-1 If You Face Any Problem E- Mail Us At Contact.Hwnerd@Gmail.Com MKT 571 Week 1 Quiz • 1. Costco is able to keep its inventory expenditure relatively low through its management technology and cutting-edge point-of-sale inventory management technology. As a result, Costco is able to pass these savings on to consumers in the form of low prices. This strategy is best described as • 2. In the U.S., consumer expenditures on homes and other large purchases tend to slow down during a recession because • 3. The Soccer World Cup is promoted aggressively to both companies and fans. This is an example of marketing a(n) • 4. One of the most critical steps in the defining process of market research is • 5. Which of the following industries is most likely to use database marketing? • 6. Which of the following statements demonstrates behavioral loyalty towards a brand? • 7. Which strategy does this exemplify? Kayak and Orbitz provide their customers with a variety of travel options including flight reservations, vacation packages, flight and hotel options with or without car rentals, and cruise offerings • 8. Which of the following is correct about marketing management? • 9. Which market do customers who have purchased and are driving Audi automobiles...

Words: 2322 - Pages: 10

Premium Essay

Mkt 571 Week 1 - 5 Quiz -

...MKT 571 Week 1 - 5 Quiz - IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://acehomework.com/MKT-571-Week-1-5-Quiz-Latest-And-Original-Work-12300909.htm If You Face Any Problem E- Mail Us At JohnMate1122@gmail.com MKT 571 Week 1 Quiz 1. 1. Costco is able to keep its inventory expenditure relatively low through its management technology and cutting-edge point-of-sale inventory management technology. As a result, Costco is able to pass these savings on to consumers in the form of low prices. This strategy is best described as 2. 2. In the U.S., consumer expenditures on homes and other large purchases tend to slow down during a recession because 3. 3. The Soccer World Cup is promoted aggressively to both companies and fans. This is an example of marketing a(n) 4. 4. One of the most critical steps in the defining process of market research is 5. 5. Which of the following industries is most likely to use database marketing? 6. 6. Which of the following statements demonstrates behavioral loyalty towards a brand? 7. 7. Which strategy does this exemplify? Kayak and Orbitz provide their customers with a variety of travel options including flight reservations, vacation packages, flight and hotel options with or without car rentals, and cruise offerings 8. 8. Which of the following is correct about marketing management? 9. 9. Which market do customers who have purchased and are driving Audi automobiles...

Words: 2399 - Pages: 10

Premium Essay

Mkt 571 Week 1 - 5 Quiz -

...MKT 571 Week 1 - 5 Quiz - IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://acehomework.com/MKT-571-Week-1-5-Quiz-Latest-And-Original-Work-12300909.htm If You Face Any Problem E- Mail Us At JohnMate1122@gmail.com MKT 571 Week 1 Quiz 1. 1. Costco is able to keep its inventory expenditure relatively low through its management technology and cutting-edge point-of-sale inventory management technology. As a result, Costco is able to pass these savings on to consumers in the form of low prices. This strategy is best described as 2. 2. In the U.S., consumer expenditures on homes and other large purchases tend to slow down during a recession because 3. 3. The Soccer World Cup is promoted aggressively to both companies and fans. This is an example of marketing a(n) 4. 4. One of the most critical steps in the defining process of market research is 5. 5. Which of the following industries is most likely to use database marketing? 6. 6. Which of the following statements demonstrates behavioral loyalty towards a brand? 7. 7. Which strategy does this exemplify? Kayak and Orbitz provide their customers with a variety of travel options including flight reservations, vacation packages, flight and hotel options with or without car rentals, and cruise offerings 8. 8. Which of the following is correct about marketing management? 9. 9. Which market do customers who have purchased and are driving Audi automobiles...

Words: 2399 - Pages: 10

Premium Essay

Mkt 571 Week 1 - 5 Quiz - Latest 2014

...MKT 571 Week 1 - 5 Quiz - Latest 2014 IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://hwnerd.com/MKT-571-Week-1-5-Quiz-Latest-2014-1131.htm?categoryId=-1 If You Face Any Problem E- Mail Us At Contact.Hwnerd@Gmail.Com MKT 571 Week 1 Quiz • 1. Costco is able to keep its inventory expenditure relatively low through its management technology and cutting-edge point-of-sale inventory management technology. As a result, Costco is able to pass these savings on to consumers in the form of low prices. This strategy is best described as • 2. In the U.S., consumer expenditures on homes and other large purchases tend to slow down during a recession because • 3. The Soccer World Cup is promoted aggressively to both companies and fans. This is an example of marketing a(n) • 4. One of the most critical steps in the defining process of market research is • 5. Which of the following industries is most likely to use database marketing? • 6. Which of the following statements demonstrates behavioral loyalty towards a brand? • 7. Which strategy does this exemplify? Kayak and Orbitz provide their customers with a variety of travel options including flight reservations, vacation packages, flight and hotel options with or without car rentals, and cruise offerings • 8. Which of the following is correct about marketing management? • 9. Which market do customers who have purchased and are driving Audi automobiles...

Words: 2322 - Pages: 10

Premium Essay

Mkt 571 Week 1 - 5 Quiz - Latest 2014

...MKT 571 Week 1 - 5 Quiz - Latest 2014 IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://hwnerd.com/MKT-571-Week-1-5-Quiz-Latest-2014-1131.htm?categoryId=-1 If You Face Any Problem E- Mail Us At Contact.Hwnerd@Gmail.Com MKT 571 Week 1 Quiz • 1. Costco is able to keep its inventory expenditure relatively low through its management technology and cutting-edge point-of-sale inventory management technology. As a result, Costco is able to pass these savings on to consumers in the form of low prices. This strategy is best described as • 2. In the U.S., consumer expenditures on homes and other large purchases tend to slow down during a recession because • 3. The Soccer World Cup is promoted aggressively to both companies and fans. This is an example of marketing a(n) • 4. One of the most critical steps in the defining process of market research is • 5. Which of the following industries is most likely to use database marketing? • 6. Which of the following statements demonstrates behavioral loyalty towards a brand? • 7. Which strategy does this exemplify? Kayak and Orbitz provide their customers with a variety of travel options including flight reservations, vacation packages, flight and hotel options with or without car rentals, and cruise offerings • 8. Which of the following is correct about marketing management? • 9. Which market do customers who have purchased and are driving Audi automobiles...

Words: 2322 - Pages: 10

Premium Essay

Mkt 571 Week 1 - 5 Quiz - Latest 2014

...MKT 571 Week 1 - 5 Quiz - Latest 2014 IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://hwnerd.com/MKT-571-Week-1-5-Quiz-Latest-2014-1131.htm?categoryId=-1 If You Face Any Problem E- Mail Us At Contact.Hwnerd@Gmail.Com MKT 571 Week 1 Quiz • 1. Costco is able to keep its inventory expenditure relatively low through its management technology and cutting-edge point-of-sale inventory management technology. As a result, Costco is able to pass these savings on to consumers in the form of low prices. This strategy is best described as • 2. In the U.S., consumer expenditures on homes and other large purchases tend to slow down during a recession because • 3. The Soccer World Cup is promoted aggressively to both companies and fans. This is an example of marketing a(n) • 4. One of the most critical steps in the defining process of market research is • 5. Which of the following industries is most likely to use database marketing? • 6. Which of the following statements demonstrates behavioral loyalty towards a brand? • 7. Which strategy does this exemplify? Kayak and Orbitz provide their customers with a variety of travel options including flight reservations, vacation packages, flight and hotel options with or without car rentals, and cruise offerings • 8. Which of the following is correct about marketing management? • 9. Which market do customers who have purchased and are driving Audi automobiles...

Words: 2322 - Pages: 10