Explore the Internet to find a multinational company that has products that you enjoy building new consumer products for. Imagine that you are the marketing manager in charge of new products. The company as tasked you with creating and launching a product that is currently not on the market in any country. This consumer product should be an extension or co-branded idea of your own creation.
Write a three to four (3-4) page paper in which you:
- Provide a brief summary of the company and product you would like to introduce for them.
- Determine the key approaches that you will use in order to incorporate branding and co-branding opportunities.
- Propose your strategy for advertising the new product within other countries. Determine whether the content of the ads would be similar to the standardized ads geared toward other world markets or if they would be customized for a new country. Provide a rationale for the response.
- Select a country as a new market for the new product. Next, predict the market segmentation variables for the new product in the country that you have selected (e.g., geography, psychographics, and demographics).
- Define the company’s main types of pricing strategies and target market objectives for the new product.
- Suggest the key methods that you would use to create unique distribution channels and logistics through the company’s existing global channel intermediaries. Predict the manner in which these distribution channels would create utility for current and potential customers