Colorado Technical University Applied Managerial Marketing Question – coursefighter.com
Business Finance – coursefighter.com
- 10 – 15 PowerPoint slide w/150 words of speaker notes per slide.
- Presenting Marketing Plan
Michelle has told you that the board is now ready to see the final presentation of your plan for MM’s new product.
“They are very eager to see what we have been working on during the past few weeks,” she says excitedly. “I am sure they will love the plan and am looking forward to your presentation.”
“Thanks,” you respond, feeling a few butterflies in your stomach. “I am looking forward to the presentation also. I think we have covered all of the bases and I am sure we have a solid plan. I have jotted down the order of items to cover that I think will be best for the presentation. What do you think?”
- Objectives of plan
- Marketing research used to select target market
- Promotional Strategies
- Measuring results
- Contingency Plan
“This looks like a solid format for the presentation. Let me know if you have any questions and I will be happy to help,” Michelle says exiting your office.
You close the door of your office so you can fully concentrate on preparing your presentation. You have a lot of material to cover, but you have been working on this plan for weeks. Now it’s just a matter of formulating a cohesive strategy and anticipating any questions that may arise during the presentation.
- What might somebody else say to show your proposed solution is wrong?
- What could you say to show s/he is wrong?
- What could you say to show s/he is wrong?
- What alternative solution might someone else recommend?
- What reasons might someone provide to support their solution?
- How would you respond to their reasons?
- Is there a compromise or creative solution?
Mobile Manufacturing, Inc.
Michelle Dietrich, president of Mobile Manufacturing, Inc. (MM), stared out of her third-floor window at the traffic below her San Jose, California office and said to herself, “This new product has to be right. If we can’t gain back a significant share of the mobile phone market with this product, MM is not going to be here next year.”
Michelle’s company made its debut in the mobile phone industry in 2002 when it invented the first mobile phone that could access the Internet. At the time, this gave MM a huge advantage over its major rivals.
Mobile Manufacturing, Inc.’s first successful product and initial public offering (IPO) in 2003 raised enough capital to help the firm develop new products, but since then, the technology giants have caught up with them. Although MM had some success with other products, it has not been able to match its initial success and distinguish itself from its rivals. MM—though it was the darling of the technology world in the early 2000s—was struggling to attract first-class employees and new investors; it was floundering in the market.
After several failed attempts at new products, Michelle hired Elena Steokovich, the top cell phone designer and engineer in Europe, to help design a new product. Elena knew her stuff when it came to phone product design, and she had worked with Michelle on MM’s first product. After stints with big-name competitors, she agreed to return to MM to help Michelle restart the product innovation engine.
“I know that just designing a good phone will not be enough,” thought Michelle. “Perhaps the most important question is: How do I know if anyone will buy our phone? Certainly market research will help us identify potential customers so that we can target them effectively, and careful analysis of the research findings will lead us to a good marketing plan. Yes, the marketing plan is the key. I need to know that the next phone we develop will meet the needs and wants of those who crave the latest and greatest technology in their mobile phones.” MM needed to get back a market share if it was to survive in a fiercely competitive environment.
Michelle also knew the mobile phone and technology markets had changed drastically in other ways since MM first entered the market. There were new domestic and foreign companies competing, increased market demand driving prices down, and innovative products being introduced every year. Although some consumers were happy to try out the latest and greatest products, a large number of customers were suffering from feature fatigue, a term used to describe the tiring of the bells and whistles. The customers with feature fatigue just wanted to make phone calls to their family and their friends.
To help ensure that MM has the right marketing plan for its new mobile product, Michelle has hired you as her marketing consultant for this project. As the marketing consultant, you will be responsible for planning, organizing, and implementing the marketing plan for MM’s new product.