Posted: April 1st, 2014
Explain what factors need to be considered when developing a new product to sustain competitive advantage
There are many important factors that an organisation must consider before developing and marketing a new product. The elements of these factors must be explored and understood before the marketing plan can be developed.
Task 6
I. Explain what factors need to be considered when developing a new product to sustain competitive advantage.
II. Explain how distribution can be arranged that provides customer convenience
III. Identify the main criteria which management must consider before setting a price, consider organisation’s objectives and market conditions in your answer.
IV. Propose different promotional activities, and explain how these activities can be integrated to achieve marketing objectives.
Task 7
Outline the three elements of the extended marketing mix, and analyse how these elements are used in the context of marketing for your chosen/new product.
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