Question

1)If you are the marketing manager, what considerations likely guided the company in its product strategies?(250 WORDS

2)How would you go about creating specific marketing and advertising with respect to that product or service?(250 WORDS

Answer 1

The product strategies in the company are guided by many factors, these factors could be both internal and external depending on the extent to which the company wants to scale its operations and increase its reach. Some of the most important factors are: Political factors and legal factors which is important because it is mandatory for the company to design its product strategies keeping in mind that any violation is not taking place and its easy and in sync with all the necessary parameters that are required to conduct business. The external competition is also a point of contention when it is regarded that the same strategy would not work and the company has to differentiate itself from the competitors in a way that they can position the product in the minds of the customer differently which is also appreciated and liked by the customer because we cannot keep on doing the same thing and expect a different result. The company also has to consider economic factors which includes the paying capacity of people as well as the economy of that geographical areas overall i.e. to what level can the strategy be and what message should be communicated so that it is pocket friendly for the customers as well as profitable for the company. Lastly, it is also essential to look at internal assets such as technical infrastructure, internal strengths, weaknesses, and also the capabilities of the existing workforce to deliver as per the expectations of the customer because then only it will be a win-win situation for customers as well as company.