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Chapter 8 Problems - Coursework Example

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Chapter 8 Problems

Question 4: The introduction of a product into a new market is always the most difficult aspect of marketing; the target market has no information about the product and therefore requires as much information about the product as possible. Such is the predicament that faces ACO, which seeks to enter the Flint Michigan market. The company’s initial marketing strategy should assume a civil education structure with the company trying to educate and inform the target market of the presence and essence of its product. This implies that the new company will have to invest more money in running media adverts. The adverts should carry a lot of information about the products stressing the strengths and benefits of the products. When the company introduces a second product into the market, the marketing strategy must therefore change in order to incorporate the new product and permit it to claim its own market share. The new product will be a competition to the company’s initial product. Additionally, the new product portrays diversity a marketing strategy that will expand the company’s market share. The media messages for the two companies owing to the introduction of the new product must change. The new adverts should not contradict each other but manifest the strengths of the two products. Such messages should claim the diversity they introduce in the market but must not try to compete for the same market. Additionally, the advert should not run concurrently but in case they do, the messages they carry must complement each other. Question 5: The deal between the Vietnamese government and the Stanford medical center present a precarious marketing situation that requires both parties to trade off several aspects of their operations and markets. By providing the American medical college and opportunity to run the national hospital in Vietnam, the government denies the country an opportunity to set up such a center of her own. By executing such an action, the Vietnamese’s government denies the local population an opportunity to invest in the potential education center. The same catch twenty-two situation faces the medical college, which must develop a decisive plan of tapping onto the opportunity to expand its operations. The new facility will demand more to operate than its already operating facility in America (Berkowitz, 2011). The academic institution will have to compromise its local market to set up the facility in the new region. This implies that it will have to employ some of its best human resource to oversee the setting up of the new business at the expense of its market position in the United States. Additionally, the opportunity provides the academic institution with a chance to diversify its services and venture into tourism as well. While this may improve its revenue and market share, it will present myriad management difficulties that may affect the reputation of the mother organization. Question 6: Apparently, the multispecialty group presents numerous challenges to the companies since the group is both large and diverse. It demands thus keep varying thus stifling any attempt by any of the companies to maintain a steady supply of products. Despite the unpredictable nature of the market, Eclipsis stands a good chance to claims a share of the market since ...Show more

Summary

Chapter 8 problems Name: Course: Question 2: In this case, the group having five different locations is more likely to exhibit the widest product base than the other three companies are. Such an organization strives to maintain its numerous markets in the three different locations a marketing feature that exhibits diversity thus compelling the company to have as many product and service bouquets as possible…
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