For the Session Long Project you will be choosing a company whose product you personally use and applying the concepts from the background materials to analyze this company’s marketing strategy.
Make sure to choose a company that has a lot of information available, as you will need to analyze many different aspects of this company’s marketing strategy while writing up your Modules 1-4 papers. It is best to choose a large and well known company since these companies will generally have the most information available about it.
Do some research on your chosen company and the specific product from this company that you use, and also review the background materials on product classifications, the product life cycle, and new product development. When you are done with your research and have thoroughly reviewed the background materials, write a two- to three-page paper addressing the following questions:
- Briefly describe the company and product you have chosen, and why you chose it. Then explain what type of product it is based on the classifications from Richardson and Gosnay (2011). [This answer should be between one to two paragraphs in length]
- What stage of the product life cycle is this product at right now? What strategies could this company use to extend the life of the product? Use the concepts from Richardson and Gosnay (2011) and Paley (2007) in your answer. [This answer should be between one to two paragraphs in length]
- What recommendation do you have for a new product from this company that you would personally use if they introduced it? [This answer should be one to two paragraphs in length.]
Now get started on the main topic of this module, the first of the “4 Ps” – Product. The following tutorial will introduce you to some of the main concepts of this module:
Products and services. (2014). Pearson Learning Solutions. New York, NY.
Finally, delve deeper into this topic with the following two book chapters:
Paley, N. (2007). Chapter 7: How to manage your product strategy. Marketing Strategy Desktop Guide (2nd Edition). London, GBR: Thorogood, London, GBR
Richardson, N. & Gosnay, R. (2011). Chapter 5: Product management. Develop Your Marketing Skills: Creating Success Series. Kogan Page Ltd., London, GBR.