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In a free-market economy, firms face some degree of uncertainty, or risk. Some of this risk is controllable, and some is not. Identify the different types of risk that a business might encounter in the marketplace and identify whether they are controllable or uncontrollable. Justify your answer.
Start reviewing and responding to at least two of your classmates’ postings
Design and assess the process of developing a new product for the global marketplace.
Take a new product idea and carry the new product through a new product development process for the global marketplace. You may have to use your imagination in certain phases. The writing assignment should include the followings:
Please describe the product and how it works? (50%)
Do you think your product has a chance of success? What factors would be critical to the success of the product? (30%)
What additional information do you need to be able to make the idea work? Where would you get the information? (20%)
What levels and sources of law would affect and govern the process of incorporation?
The website “My M&Ms” allows customers to personalize M&M candies with words, faces, and colors and select from multiple packaging choices. What product market or market development strategies do you think Mars pursued when it introduced personalized M&Ms?
Read about the start of Warby Parker. https://www.nxtbookmedia.com/blog/warby-parker/ Then answer the following questions, explaining the reasoning behind your positions/responses:
● How do you believe Warby Parker used entrepreneurship marketing and innovation to create an opportunity to grow the company?
● What do you believe distinguishes Warby Parker’s successes versus the failures of other companies in the eyeglass market?
● Provide an example of an entrepreneurial action similar to that of Warby Parker that has proven to be successful in your home country.
What is the importance of social media in marketing, what marketing strategies are used on social media. how can organizations use social media for marketing. why effective marketing strategy is important, why effective marketing strategy is important on social media. how to create effective marketing strategies.
All the work done to learn what consumers want and how best to give it to them falls under the umbrella of marketing and communication. There are numerous surveys actively hunting for customers in the industry. Marketing is responsible for everything from coming up cuphead with catchy ad copy to deciding which channels to use to get the word out about the brand.
Changes in consumer preferences have been a driving force in the development of new strategies for effective marketing communication. The evolution of marketing strategies has improved their responsiveness to the modern marketplace. The e-commerce sector has expanded greatly due to the rise of digital marketing.
Review a current product or service in the market and describe its target market. Generate a persona for this company’s primary target market.
Describe the essential elements of a persona. Define the key demographic factors that are the basis of how customers are grouped and categorized. Which of these factors are most important for your business?
Review a current product or service in the market and describe its target market. Generate a persona for this company’s primary target market.