Marketing management Research Paper Example | Topics and Well Written Essays - 750 words

Marketing management - Research Paper Example 2. A company that has a well-executed branding strategy will enjoy the good aspect of marketing. This is because customers will be able to identify themselves with the good due to its color, brand name and even the price. Consumers will enjoy the benefits of easy selection and budgeting of their selected brand. With regard to a newly launched product, the brand name provides the advantage especially due to the customer base already created by pioneer brands. 3. Most of the new products fail in the market because of several reasons. One of the reasons is the level of competition. Most of the newly launched products are unable to compete effectively in the market hence fail. Most of the marketers also fail in conducting feasibility tests before launching their products in the market. In addition to this, poor branding strategies and failure to connect the new product with pioneer brand creates a loophole which eventually leads to the failure. Marketers are therefore under obligation to conduct a proper feasibility test before they introduce a new product. They must ensure that the product is appealing to the customers and meeting their demands in terms of price quality and quantity. 4. Most marketers are have engaged in understanding the psychological behavior of the consumers and are now utilizing the strategy of perceived value. This means that the value of the price of the goods or services are according to what the customers thinks they are. The key to perceived value pricing is providing the customer with what they want in form of size, quality, quantity, and price. Once this is done customer loyalty follows and this is the most important aspect of perceived pricing. The marketer is able to predict the price to be paid through customer loyalty, customer demands and customer cares services. 5. One of the strategies is to increase the compensation such that the highest marketer gets the highest commission. This will act