Market Entry Analysis: Market Failure Paper
The purpose of this assignment is to locate and research an example of a market entry failure. The marketing failure may range from a fiasco that resulted in a market withdrawal of the product to a product that simply did not achieve forecasted sales and profits. The product failure may or may not be on the market today. The marketing failure should be a real situation where the facts are drawn from primary data that the group obtained from primary and secondary sources.
For the market failure, complete an essay (1,000-1,250 words) that addresses the following elements:
- Using the example of a market entry failure, identify the product, clearly define the problem and key issues surrounding the failed product, and make a clear distinction between causes and effects. Provide supporting facts with citations and a reference page.
- Be sure to identify any documentation of initial planning and marketing strategy that resulted in the failure. Include any reasons for the failure and what might have been done to avoid or mitigate the failure.
- Analyze and discuss how the product failure might have been avoided through the application of the SRC (self-reference criterion).
- Conclude your analysis with a recommended plan of action and strategy for reviving or reintroducing the product into the market.
Prepare this assignment according to the APA guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.