Answer the below 4 questions in paragraph format with at least one source cited for each question (site source /reference)below each answer.
1. Why are brand names so important in marketing?
A brand name might suggest something about the product’s benefits and qualities. It should also be easy to pronounce, recognize, and remember and be capable of registration and legal protection.
Provide examples of good and poor branding. Explain these selections. (Google “good and poor brand names” for help on these questions and be sure to cite the sources you use.)
How does distribution influence your opinion of the brand, positive or negative? Give examples.
2.In this question concentrate on the distribution of a product or service.
Have you ever heard of the term DISINTERMEDIATION?
This means to flatten an organization – removing one or more links in the distribution chain. In recent years, the internet has been a source of disintermediation as products traditionally sold through physical retail outlets can now be distributed directly from the manufacturer directly to the consumer – eliminating the MIDDLE MAN. By eliminating the middle man the price of the product can be reduced.
Identify a product now offered directly over the internet that used to be available only through a separate retailer. (Indicate the website where you found this product.)
(Be careful with this question as internet retailers – e.g., Amazon – and websites sponsored by traditional retailers – e.g., macys.com – do not constitute disintermediation, but only replace or complement traditional physical outlets.)
Explain the advantages and disadvantages associated with internet distribution for this product.
3.Most promotional strategies have several elements to what is called the “promotional mix,” which may include various forms of advertising, public relations, sales promotion, product placement, packaging, and personal selling.
Choose a product and discuss the promotional strategy for this product.
What do you think are its objectives?
Which of the elements identified above are included? (Cite some examples from internet sources – print media and sponsor’s websites, YouTube, or articles in the trade or business press.)
In your judgment, is the strategy effective or not based on the objectives that you identified? Explain.
4.Note that the concept of Price more usefully represents a customer-oriented perspective taken by marketers, rather than only “What we charge the customer.” Thus, an effective pricing strategy necessarily takes into account barriers to purchase, i.e., sacrifices required to obtain a product or service, as well as the prospect that company circumstances and objectives may differ.
Choose a product and explain the pricing strategy for this product.
What do you think are its objectives?
What barriers to purchase, including, but not limited to its cost, do you expect its potential customers to experience?
In your judgment, is the strategy effective or not based on the objectives that you identified? Explain. What other approaches would you recommend in setting a pricing strategy for this product?
Be sure to cite your sources of information in addressing these questions.
