hw 11 - Raven Boston Mr Neher MKT 3331-03 Homework 11 6 How...

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Raven Boston Mr. Neher MKT 3331-03 October 24, 2011 Homework 11 6. How do firms use benchmarking? Firms use benchmarking to set performance standards. The main purpose of benchmarking is to achieve superior performance that results in a competitive advantage in the marketplace. A benchmarking process involves three main activities: identifying manufacturing or business processes that need improvement, comparing internal processes to those of industry leaders, and implementing changes for quality improvement. An example, Apple uses iTunes for benchmarking iOS 5. 9. What steps do marketers take to make the introductory stage of the product lifecycle successful enough to reach the growth of the stage? What are some of the challenges they face? The firm works to stimulate demand for the new- market entry. Merchandise in this
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Unformatted text preview: stage might bring new technology to a product category. Also, marketers may do promotional campaigns stress information about its features. Challenges they face may include technical problems and financial losses are common when firm spend money on advertising. 5. Choose one of the following goods and services and describe your strategy for taking it to the next stage in its product life-cycle. Because text messaging is apart of the growth stage the firm starts to realize the profits from its investment in a product. Text messaging, once a customer has purchased a cellular device, I start by advertising text messaging feature including the ti9, picture messaging etc....
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  • Fall '11
  • Dr.Neher
  • Marketing, Product life cycle management, Firm, Text messaging, Text messaging

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