Discuss on VALUE CREATION FOR PRODUCTS AND SERVICES

 

Q.2: VALUE CREATION FOR PRODUCTS AND SERVICES

The goal of marketing managers is to study market facts, industry tendencies, and consumption behaviors so that organizations can produce goods and services that create real value for consumers. Research any of the following innovation sectors:

· Aerospace, aircraft, and drones

· Games, apps, and social media

· Green technology

· Biotechnology, drugs, and genetics

· Nanotechnology

In your response, address the following:

1. Share at least one market trend that can drive the future creation of products and services in that field.

2. Suggest one product or service that can deliver value for the anticipated trend. Define the type of product or service.

3. Describe how an organization can create value for consumers using that specific trend.

Q.2 CASE ANALYSIS – RECOMMENDING COMMUNICATION CHANNELS

For this assignment, you will:

Read the Case Study “Cutting Edge Quality: Cutco Knives for Life” available in the textbook, Chapter 12 (Ferrell et al., 2020). only peer-reviewed publications (e.g., periodicals, journals), prepare an APA Report addressing the following:

1. A summary of the case.

2. List a series of positive attributes that both the product and the organization exhibit and that can be marketable.

3. Choose at least two traditional promotional strategies (exclude direct sales) and explain why these channels are the best options to move the product from a “push” to “pull strategy.”

4. Choose at least three digital communication channels and explain how marketing managing strategies to communicate the benefits and positive attributes of both the product and the company.

5. Discuss at least two legal and social issues in Internet marketing that apply the most to this type of product and organization. Explain the consequences for the organization when these issues emerge.

6. Close this paper with an analysis in which you apply the discussed concepts to appraise critically the importance of the managerial issues addressed in this paper. Use real-life examples to explain the importance of these concepts.

7.Include at least three references with your APA report

8. Note: For this assignment, you would have to access “Chapter 12: Dimensions of Marketing Strategy” introduced during Week 6).