Country of Origin Effects on Marketing
February 12, 2025
Marketing has always been relying on traditional print and visual media for advertising their products and services. The basis of the mass media both in print as well as in visual form is to release one common advertisement to the entire mass in general. Such advertising is controlled by the marketers who have control over […]
Cutting Edge Technologies Have Revolutionized Sales and Marketing It would be an understatement to state that the use of cutting-edge technology has transformed the Sales and Marketing Function. Indeed, one can go as far as to say that the use of advanced technologies such as Big Data, Artificial Intelligence, and Data Analytics have revolutionized the […]
Introduction The macroeconomic environment that Starbucks operates in is characterized by the ongoing global economic recession, which has dented the purchasing power of the consumers. However, market research done in the last few months has indicated that consumers have not cut down on their coffee consumption and instead, are shifting to lower priced options. This […]
Brand management has become quite a challenge for brand managers as well as the Organizations today. Intense competition and the decreasing product life of a brand add further dimensions to the brand management problem. Brand managers by and large opt for brand extensions now days. You can check any shelf in the super market and […]
Service industry today dominates the economic scene in all the countries. Over a period of few decades we have seen the rise and unprecedented growth of service industry in almost all sectors including technology and telecommunications, health care, education, media, Utilities, financial and banking sector etc. Service industries growth has been characterized by focusing on […]
Companies first find the target market than segment and then customers. After these companies go about developing products, which may be product modification or it may be a completely new product. Product offerings are increasing every year as consumers are looking for more and more variety of products. Companies which are unable to churn out new products fall back on competition and suffer the consequences. Companies face danger not just from competitors but consumer needs, technology, and product life cycle. New product development has its share of challenges. Research shows that 95 percent of new products fail in USA and in Europe failure rate is 90 percent.
Organizational set up has to be conducive to support new product development. Foremost companies must allocate funds for research and development, the conventional way is the percent of sales technique. Others chose to allow employees dedicate a certain amount of work time on new product development. Companies next have to organize the process of development. This can be done by product managers with new product development experience or by cross functional team with members chosen from various departments having the knack of developing new products.
Nowadays, companies are following stage process for product development.
Introduction of new product is part of survival technique for any firm. And with very high failure rate companies have to follow a scientific process to create new market offerings.
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