Hello this is for my basic marketing class. The assignment is a discussion board

Question

Hello this is for my basic marketing class. The assignment is a discussion board, all the information you need is below. please answer it using what is below. thank you.

The various changes and trends summarized in Exhibit 19-5 have been discussed throughout the textbook. The objective of this discussion – at this point in the course – is to review the items on that list and discuss them in relation to one company example - Hershey. Do you love chocolate (or know someone who loves chocolate)? You should discuss the issues in Ex. 19-5 in light of Hershey Company and the launch of the first new Hershey bar in 22 years.....

I recommend you work on your initial post in a Word document, edit it carefully, and then copy and paste into the discussion area.

First, watch the video and read the article: http://money.cnn.com/2017/11/03/news/companies/hershey-gold/index.html (Links to an external site.)Links to an external site.

Address these questions in your initial post:

Which trends or changes listed in Ex. 19-5 do you think had an impact on Hershey's decision to introduce Gold at this point in time? Why?

What do you think are the most important aspects (Exhibit 19-4) of the marketing plan that are related to Hershey's new product launch? Why?

Note: You must use at least four concepts from the course in your discussion post to get full credit.

Situation Analysis Company objectives and overall marketing objectives Company resources (marketing, production, financial, human, etc.) Other marketing plans (marketing program) Major screening criteria relevant to product-market opportunity selected Quantitative (ROI, profitability, risk level, etc.) Qualitative (nature of business preferred, social responsibility, environment, etc.) Maior constraints Marketing collaborators (current and potential) Customer Analysls (organlzational customers and/or final consumers) Possible segmenting dimensions (customer needs, other characteristics) Qualifying dimensions and determining dimensions ldentify target market(s) (one or more specific segments) Operational characteristics (demographics, geographic locations, etc.) Potential size (number of people, dollar purchase potential, etc.) and likely growth Key economic, psychological, and social influences on buying Nature of relationship with customers Type ing situation Competitor Analysis Nature of current/likely competition Current and prospective competitors (or rivals) Current strategies and likely responses to plan etitive barriers to overcome and sources of potential competitive advantage Analysls of the Market Context-External Market Environment Economic environment Technological environment Political and legal environment Cultural and social environment Key Factors from Situation Analysls Marketing Plan Oblectives Differentiation and Positionin S.W.O.T. Strengths, weaknesses, opportunities, and threats from situation analysis Specific objectives to be achieved with the marketing strategy How will marketing mix be differentiated from the competition? How will the market offering be positioned? Positioning statement Marketing Strate Overvlew of the Marketing Strategy General direction for the marketing strategy Description of how the Four Ps fit together Target Market(s) Summary of characteristics of the target market(s) to be approached Product class (type of consumer or business product) Current product life-cycle stage New-product development requirements (people, dollars, time, etc.) Product liability, safety, and social responsibility considerations Specification of core physical good or service Features, quality, etc. Supporting service(s) needed Warranty (what is covered, timing, who will support, etc.) Branding (manufacturer versus dealer, family versus individual, etc.) Packaging Promotion and labeling needs Protection needs Cultural sensitivity of product Fit with product line ves Degree of market exposure required Distribution customer service level required Type of channel (direct, indirect) Other channel members or collaborators required Type/number of wholesalers (agent, merchant, etc.) re How discrepancies and separations will be handled How marketing functions will be shared Coordination needed in company, channel, and supply chain Information requirements (EDI, the Internet, e-mail, etc.) tion requirements Inventory product-handling requirements Facilities required (warehousing, distribution centers, etc.) Reverse channels (for returns, recalls, etc.) omotion Major message theme(s) (for integrated marketing communications/positioning) Advertising (type, media, copy thrust, etc.) Personal selling (type and number of salespeople, compensation, effort allocation, etc.) Sales promotion (for customers, channel members, employees) Interactive media Who will do the work? Price Nature of demand (price sensitivity, price of substitutes) Demand and cost analyses (marginal analysis) Markup chain in channel Price level(s) (under what conditions) and impact on customer value Adjustments to list price (geographic terms, discounts, allowances, etc.) Marketing Information Requirements Marketing research needs (with respect to customers, Four Ps, external environment, etc.) ondary and p Marketing information system needs, models to be used, and so on Implementation and Control Speclal Implementatlon Problems to Overcome People requir Manufacturing, financial, and other resources needed Control Marketing information systems and data needed Criterion measures/comparison with objectives (customer satisfaction, sales, cost, performance analysis, etc.) Costs (all elements in plan, over time) Estimated operating statement (pro forma) Specific sequence of activities and events, and so on Budget, Sales Forecasts, and Estimates of Proflt time, e Timing Likely changes over the product life cycle Risk Factors and Contingency Plans

Explanation / Answer

Procter and gamble has been a Pioneer in the industry, procter and gamble has grown as a giant with the vast product range as well as youth services across the globe. Procter and gamble has always been very much standard in the industry it deals in. Procter and gamble product range never face any kind of intense competition as it was the only one to introduce such things to the market.

Company deals in so many Industries as well as have the very much large product range. Specific product train itself is example for existing new industries in the business. By setting up the standard for different companies Procter and gamble had never focused on creating innovative products to the society.

Having a great identity in the business procter and gamble never needed any kind of research and development for its product to introduce new ideas to the market as it was generating huge revenues from the previous product range. Buy standardizing its overall product range procter and gamble has successfully implemented the standard product form for its product Rangers.

Customers are also very used to buy traditional products from PNG which reflects their traditional built up. By having a product train which is trustable inauthentic became the main reason behind lack of innovation in the product range of Procter and gamble.

By implementing the new product into the product range of the company, a company can easily attract the new customers as well as some specific targeted customer range. By targeting some specific targeted customer range company can increase the overall revenues with the help of new and innovative products.

Procter and gamble has been a Pioneer in the industry, procter and gamble has grown as a giant with the vast product range as well as youth services across the globe. Procter and gamble has always been very much standard in the industry it deals in. Procter and gamble product range never face any kind of intense competition as it was the only one to introduce such things to the market.

Company deals in so many Industries as well as have the very much large product range. Specific product train itself is example for existing new industries in the business. By setting up the standard for different companies Procter and gamble has always focused on creating innovative products to the society.

By Implementing five forces analysys on P&G we can easily determine the company position.

• Competition rivalry

P&G has faced extreme competition as it is dealing in the mainstream customer products. By having a very large product range and dealing in different sections of the industry ,P&G has invited large number of competitors.

Low cost marketing companies with huge discounts are one of the major competitors of the company.

Company's global position is facing a big competition as there are different competitors are providing cheaper services and also understand the specific market better than a foreign company.These smaller entrants to the market create an opportunity to compete with the P&G and also create a threat for the company.

• Supplier bargaining

P&G has a extremely big business structure and provides its services globally.This specific term introdueces the extreme chances of supplier bargainng. As the company is depending on the third party suppliers as well as getting raw materials from the suppliers are bargained as per the changing industry values.

this specific bargaining modules affect the company's overall profits and also effects its position in the global as well as the local markets.

• Customer bargaining

Customer plays an important role in the overall revenue of Procter and gamble. As the new market entrance with low prices are entering the market customers are comparing the products and providing their feedback as well as buying the products according to their needs. Is a specific competition is directly driving a change into Procter and gamble strategy towards creating more user friendly as well as cheaper product according to the market. By having the customer bargaining into the strategy of the company procter and gamble is successfully driving a change into its overall strategy towards defining the sales and management processes across the globe.

• Threat of new entrants

As the market is going toward more cheaper segments. Smaller and much modern competitors are entering into the market. New entrant are having new strategies as well as newer dealing patterns towards the customers, These specific entrants are creating huge competition for Procter and gamble as they are creating a low price market. Procter and gamble has to reintroduce it's strategies towards e-marketing to provide a better support for the customers and to give better price to content ratio products.

Company is facing great loss has the competitors are providing extreme discounts which are making the customers shift toward the different competitors as compared to Procter and gamble.

• Threat of substitution

This is one of the biggest threat available for Procter and gamble. Procter and gamble is being substituted by the different brands available in the market which are providing better substitutes at different pricing. Those specific Grounds are having an aggressive pricing towards Procter and gamble and also providing quality products, companies overall ethical position is providing great support for the company's overall sales but the new entrants with better quality of the products and new advertisement ideas are also creating a substitute which is creating a huge loss for the company.

4p analysis of Procter and gamble

Products

Procter and gamble is a consumer good company and deals in different sort of products which can be described as

• Beauty

• Grooming

• Healthcare

• Home carrot fabric

• Family care, feminine care and baby care

Procter and gamble provide its services in the specific goods area. Each and every segment of the specific products has their own management system as well as the supply chain network to ensure the delivery of the product on time. Business Pacific segment have their own us annual filings with the UN Security and exchange Commission.

Procter and gamble has successfully integrated its product range into different categories by implementing product ranging from shampoos to the post shave products. Multiple fabric products like detergent and other home care products are also available. Feminine care products as well as baby care products such as diapers and other related products are also available .

Company has successfully expanded its overall business to a large number of products and operating successfully in each and every segment. This enables Procter and gamble to form a simpler as well as more streamlined organisation..

Place

Procter and gamble is a global company and provide its services globally. By having a business across the globe company strategy moulds according to the specific market in which the company is dealing in.

The main places which Procter and gamble uses for his doing its business.

• P&G shop

• Retailers

• Authorised distributors

Retailers are the mean source of sales for Procter and gamble afterwards PNG shops as well as the authorised distributors are also one of the main parts of the selling system for Procter and gamble. By having this is specific stores on work procter and gamble also sell their products online on the website like Amazon and other collaborated websites. But mainly Procter and gamble is depending on the retailers to sell their overall goods.

Promotion

Promotional strategy of procter and gamble includes

• Advertising

• Direct marketing

• Promotional sales

• Personal selling

• Public relations

Advertising is the Procter and gamble main promotional strategy which carries out on each and every medium available undefined as well as on newspapers from 10 and gamble has successfully influenced its customers towards buying a product of Procter and gamble.

Prices

Well known for its customer oriented pricing and provision the prices according to the market. Procter and gamble determine the market needs and provide the pricing strategy according to the market for better involvement with the customers. Why having a better involvement with the customers Procter and gamble and successfully create in anegan working environment with a successfully accepted pricing system.

Different pricing strategies of Procter and gamble includes

• Market oriented pricing strategy

• Product oriented pricing strategy

• Premium pricing strategy

Most of the time market oriented pricing strategy is the main strategy based Procter and gamble uses for different market across the globe. My having different pricing according to the different Markets and peoples need Procter and gamble are successfully generating huge revenues from the same markets.

Related Questions

Navigate

• Browse (All)
• Browse H
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.