MARKETING
Competencies:
3013.1.1: Marketing Function - The graduate analyzes the global market to identify opportunities to gain competitive advantage through marketing activities.
3013.1.2: Customer Relationship Management - The graduate recommends customer relationship management practices for maximizing customer satisfaction and loyalty.
3013.1.3: Evaluating Feasibility and Profitability - The graduate evaluates the feasibility and profitability of new products and services within the organization.
3013.1.4: Marketing Strategy - The graduate designs a strategic marketing plan for a new product or service.
3013.1.5: Entrepreneurial Enterprise - The graduate identifies risks and opportunities for an entrepreneurial enterprise.
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Introduction:
Marketing managers for global organizations are often asked to evaluate the feasibility of new products and services and predict their profitability for the organization. For this task, you will select a business that would like to develop new products and services in order to attain a competitive advantage in the global market. You will first consider the products and services the company currently offers and recommend new products and services that have the most potential for profitability based on your evaluation. You will then identify the target market and consider how you would reach that market using traditional mass media and social media for the launch and beyond.
For example, a natural foods company may need to begin offering an online ordering system to remain competitive. If you discover a market exists for a new natural food product that is desired in other countries but not readily available there, this might be a good product to recommend adding, but you should first determine whether it is feasible.
Select a business from one of the industries listed below:
● agriculture
● banking
● hospitality
● healthcare
● retail
● transportation
●...