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STRATEGY AND POSITIONING ANALYSIS PART 21Strategy and Positioning Analysis Part 2Tiffany Toro, Stacey Fincher, John Goins, Victoria Burton, Pam BallietMKT/421April 25, 2016Fritz Beiermeister
STRATEGY AND POSITIONING ANALYSIS2Strategy and Positioning Analysis Part 2In this paper One Shy of “A” Printers, Inc. will identify various marketing conceptsinvolving the release of the 3D Homebot. It will provide a description on how marketing effortschange at different phases within the product's life cycle, how packaging will add value to theproduct, and how the company will determine pricing strategies. Last but not least, this paperwill identify various channels of distribution to sell its products and how each partner can addvalue to the brand.Product Life CycleAny new product on the market goes through a cycle which determines a company’smarketing efforts. Kerin, Hartley, & Rudelius (2015) states, “The concept of the product lifecycle describes the stages a new product goes through the marketplace: introduction, growth,maturity, and decline” (p. 272). Throughout the product's life cycle, it has different needs; eachstage addresses these various needs and allows for a variety of marketing tactics to be used ineach stage. According to Lorette (2015), “Understanding the product life cycle can help businessowners and marketing managers plan a marketing mix to address each stage fully” (para. 1).Business needs to do ample research before the release of any new product for successthroughout all stages.Introduction StageIn the introduction stage, One Shy of “A” Printers, Inc. will introduce the 3D Homebot to themarket. Typically, during this time, the sales grow slowly, and the profit is minimal due to thehigh production costs, investments, and all the initial outlays associated with developing theproduct. “In this phase, the marketing strategy is to create consumer awareness and stimulate the
STRATEGY AND POSITIONING ANALYSIS3initial purchase of a product” (Kerin et al., 2015). As a result, companies typically allocate largebudgets towards various advertising and marketing techniques to gain consumer awareness.Another advantage our company has at this stage is that most 3D printers currently used areindustrial; there is competition but not necessarily competition in our intended market of low-income stay at home families. Growth StageA company enters the growth stage once customers become aware of the product and salesstart to increase. The increase in sales is partly due to new consumers trying the product, inaddition, to repeating purchasers. At this phase, more competitors are established, and aggressivepricing strategies are involved. Therefore, profit is at its peak for companies. For One Shy of “A”Printers, Inc., the growth stage is vital for product differentiation and building a brand preferencefor its target market. Since more competitors are interested, our company must set itself apart bydiversifying its product and services. Lorette states, “Marketing the product involves showing