NEED A DISSCUSSION RESPONCE TO THE POST BELOW

Identify and describe a product that might be used on a daily basis. Then respond to the following questions about it:

A product that we use on a daily basis is our smartphone, whether its an Iphone or Android. We use this product to conduct multiple activities such as calling, texting, internet service, and even an alarm. It is an essential tool we use to communicate and help productivity.

As a marketer of that product, who would be your target market?

The target market for smartphones will vary based on the capabilities of the phone. The demographic of people I would choose as a marketer would be business consumers due to the need for communication, multi-tasking, and access to multiple applications needed for companies.

Create a differentiation strategy that would lead to a competitive advantage.

A differentiation strategy is important for marketing and businesses to have the upper hand against your competition.Differentiation strategy involves capitalizing on your brands uniqueness to gain a competitive advantage in a saturated market. Your plan might involve offering a low-cost substitute for a popular product or service, a cheeky digital marketing strategy, or a combination of features(MasterClass, 2022). For my differentiation strategy, I would do multiple things to create a competitive advantage. I would invest in a research and development team to provide consumers the best technology that is up to date apart from the competition whether it is new security features for the smartphone, artificial intelligence, optimized battery life, and task management features. The smartphone will be the most user friendly with a simplistic design offered in a variety of colors and also compatible with every network provided worldwide. The durability of the product would also be a key point we would focus on and offer lifetime warranties. The smartphone will be a quality product at an affordable price while being the best in customer service.

List some features of the product you identified above.

The features of my smartphone will have a variety of features to help my target consumer. The camera would be a helpful feature to scan documents to your computer, a calendar with artificial intelligence to remind you of tasks, and also multiple applications to help productivity. Voice assistance would be integrated in the device as a virtual assistant. Battery life would be optimized and the best in the market to handle multi tasking.

Now, review the three levels of product (Chapter 8). Discuss all three levels relating to that same product. What is the marketing implication of your list of features of the product versus the three levels of product analysis?

Core customer value is the first level of product and the smartphone is what the customer is buying. They are buying a phone to perform multiple tasks, a device that is used on a daily basis with a simplistic design for a company that cares, and also the technology that comes with the smartphone. The second level is actual product which product planners must turn to the core benefit. The smartphone is a real product with multiple companies trying to compete with one another. They are all similar but the technology is different and the customers will go to the company that offers customer value. Augmented product is the last step and Finally, product planners must build an augmented product around the core benefit and actual product by offering additional consumer services and benefits (Kotler & Armstrong, 2021 p.216). The smartphones warranties and customer service would be the final step.

At what stage of the PLC is this product? Discuss how the marketing mix changes based on the stage of the PLC.

The smartphone has been around for a significant period of time and overall it goes through different stages of the product life cycle. Overall the smartphone is in the maturity stage of the cycle due to the competition of companies, adoption of the product, and profitability. New smartphones are constantly going through the PLC. The marketing mix can change overall due to the product experiencing extensions in its life instead of any updates, price competition would need new marketing strategies, and customer service would be crucial to the consumer.

References

Kotler, P., & Armstrong, G. (2021). Principles of Marketing (18th ed.). Pearson Education (US). https://ccis.vitalsource.com/books/9780136646013

Master Class. (2022, August 04). Retrieved from https://www.masterclass.com/articles/differentiation-strategy