Choose a consumer product or service that is on the market today, but is declining in appeal to consumers. This product should be marked for “obsolesces”.
Write a five to six (5-6) page paper in which you: 1. Discuss this product or service in terms of its current target market demographics using U.S. Census Data. 2. Determine why you believe the product or service is declining in popularity. Be sure to include information on social, demographic, and ethnic markets; economic and technological factors; political and legal factors; and competitive factors. 3. Make three (3) recommendations for possible action marketers of the product or service you selected could take to address the product’s declining appeal to consumers. 4. Determine the best foreign country in which to market this product or service. Support your response with information from the CIA world factbook. 5. Discuss your product segmentation and positioning ideas for this product or service in its debut in the new country.
The specific course learning outcomes associated with this assignment are: ? Examine the marketing planning process, market segmentation, and the development of the key elements of a marketing strategy. ? Apply the major elements in product strategy for both goods and services, including the concept of the product life cycle, product mix, and the product development process. ? Explain the fundamental marketing planning process in a global environment. ? Analyze the critical factors affecting the behavior of consumers and commercial / organizational buyers. ? Use technology and information resources to research issues in marketing. ? Write clearly and concisely about marketing using proper writing mechanics.
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