Product Strategizing

Product Strategizing

Product Strategizing, Content of the paper Your paper should include the following sections: Introduction. This section needs to include sales and market share data – this is the only section for which you will use UIC library databases. Product strategy (APA Heading). You will describe

a) the product line,

b) one functional and

c) one psychological benefit of the product,

d) the package design, and

e) provide background information about the brand name. Include a visual of the package design. Distribution (Place) strategy .APA Heading.

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Product Strategizing

Describe where this product is sold to include type and description (store, non-store or both) (supermarket, drugstore, convenience store etc.) as well as examples of specific retailers. Pricing strategy (APA Heading).

Compare the price of your product with prices of at least two competing brands and conclude whether or not a prestige pricing strategy is used. The comparison should be presented in a table. Promotion strategy (APA Heading). Provide an overview of the communication tools the company uses and describe a few examples of specific social media posts or ads in other media. Target market and positioning strategy (APA Heading). Based on your description of the brand’s strategy, you will identify what you think the target market is using two segmentation variables.

Product Strategizing

You will summarize the strategy using a positioning statement format. Make sure to follow the format in the sample: To [insert target market description and general need], [insert brand name], is a [insert product category] that [insert a description of the point of difference]. Conclusion (APA Heading). Summarize why you think the brand is successful (or not successful if you chose a brand that has seen a declining market share). References (APA Heading) Please use APA reference format for your paper. Includes one reference from the UIC Database. Your paper should be 600 – 700 words and follow the format of the sample paper. UIC Library Database https://researchguides.uic.edu/az.php