Question

a Janice Toy Inc. is a toy manufacturer in Hong Kong. Recently, the company introduced a new electronic bear to the market. Although there are no other companies that sell this type of toy, the sales figure is not ideal and customers are not aware of the toy. Suppose you are the marketing manager of this company. Identify and explain the stage of product life cycle that this toy falls into, and suggest the corresponding marketing actions to be taken.

b GFE Limited is a company that sells audio products, such as earphones, speakers, mixer and other related accessories to retailers in Hong Kong. John is the owner of this company and he wishes to repackage his products to promote his company and increase sales.
What factors should he consider when designing the packaging of his
products? Explain.

Answer 1

Answer a=The corresponding toy is in the introduction phase of the product life cycle as it has been recently introduced in the market. In this stage, the marketer has to promote the product through mass advertising and providing impetus and trail for the customer to use the product. The company needs to have a better distribution of the product so that the product can be purchased by maximum possible customers. As the demand for the product is not picking up, thus the company needs to provide some discount on the product to induce buying.

Answer b= The following factors must be kept in mind in the packaging=

The attractive color combination and design must be used so that it can attract the customers

The packaging should have all the protective measures to prevent any damage to the product

The packaging must be made as per the target market i.e. most of the youth are now buying earphones and other electronic products so they must have some youth icon on the packaging to promote the product

The packing can also have some other products on the backside to promote the other products of the company