Reflection and Discussion Forum Week 3Assigned Readings:Chapter 6. Products: Goods and Services.Chapter 7. Brands.Chapter 8. New Products and Innovation.Initial Postings: Read and reflect on the assigned readings for the week. Then post what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding in each assigned textbook chapter.Your initial post should be based upon the assigned reading for the week, so the textbook should be a source listed in your reference section and cited within the body of the text. Other sources are not required but feel free to use them if they aid in your discussion.Also, provide a graduate-level response to each of the following questions:
- Read the methodology of Interbrand.com for brand valuations. How might you improve their methods and the sorts of measures they use to assess brand equity?
- Consider the trends described in the chapter (e.g., aging, heightening environmental concern, or China). How will each affect the business you are in (or were in before coming to b-school)?
- Make a list of 3 of your favorite brands. What would be a great brand-, or line-extension that you would like to see developed as a new product?
[Your post must be substantive and demonstrate insight gained from the course material. Postings must be in the student’s own words – do not provide quotes!] [Your initial post should be at least 450+ words and in APA format (including Times New Roman with font size 12 and double spaced). Post the actual body of your paper in the discussion thread then attach a Word version of the paper for APA review]
The group will write-up their proposed idea for their Marketing Plan in a 3 – 5 paged paper that will be submitted at the end of the day. The purpose of the Proposal to ensure that the group is on the right path of success to complete the project. The group will work on their idea and tentative supplemental pieces for the plan. The final plan will be submitted at the end of the semester. This tells you some of the parameters you need to meet for the Marketing Plan. The following are other pieces you need to ensure you include:
- What is the PRODUCT you wish to introduce?
- What are the PRICES you want to charge and/or the including a discussion of what the profit looks like you intend to make
- What PROMOTIONS do you intend to use to get your Marketing message across to your target market?
- What PLACE/DISTRIBUTION methods do you intend to use to get your product to the masses?
- Who is the target market? Why?
- What specific methods of distribution do you want to use? Do you want to have a storefront? Online presence? Both? Direct Sales?
- Depending on the International City/Country you plan to target, why did you pick that area for that particular product? Why that target market?
- Where do you plan to be headquartered?
- Everything needs to be specific and spelled out directly.
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