Marketing managers for global organizations are often asked to evaluate the feasibility of new products and services and predict their profitability for the organization. For this task, you will select a business that would like to develop new products and services in order to attain a competitive advantage in the global market. You will first consider the products and services the company currently offers and recommend new products and services that have the most potential for profitability based on your evaluation. You will then identify the target market and consider how you would reach that market using traditional mass media and social media for the launch and beyond.
For example, a natural foods company may need to begin offering…show more content… i. Justify why you chose these channels based on market segmentation (e.g., demographics, psychographics, behavioral characteristics)
b. Discuss two sales promotion activities (e.g., coupons, games, contests, sweepstakes) you would use to promote your new products and/or services in a global market.
A.1
The retail company selected for this marketing evaluation will be referenced as “Crafty Town”. Crafty Town is located in Western Michigan manufactures and supplies floral and craft supplies nationally and globally. They currently have 3 factories; two operating in the States and one in Mexico. This paper will analyze expansion efforts of launching two new products in Canada.
One new product that the company can offer to the global market of Canada is artificial Christmas trees. Crafty Town already produces artificial flowers and uses a supplier for metal/wire components. The company could use existing equipment to manufacture the pine needles and any plastic components, and use the supplier for metal components
A second new product that the company can offer to the global market of Canada is DIY bridal floral arrangements. This new product is particularly promising because it does not require any new manufacturing, only new packaging and marketing.
A.1.a
Three methods were used to determine the commercial viability of the proposed new products. One method used was to determine the existing
