Marketing Philosophy and Strategy

Marketing Philosophy and Strategy

Challenges of a product /service launch in the global economy

How technology supports the marketing effort

Legal and ethical implications from the business environment legal /ethical

Faux pas in marketing

Abstract

To successfully launch a product or service in the global economy businesses have to rely on carefully researched information which will form a pool of knowledge form which managers will draw guiding principles which will act as the company 's philosophy or approach towards global marketing . Statistics show that between 67 to 95 of

new product launches flop , mainly due to marketing reasons (Czinkota and Ronkainen 2004 pg449

If a company has to survive , it must develop new products so as to maintain or build sales . Companies do not have to make totally new products . They can : develop new-to-the-world products , new product lines , make additions to existing product lines , improvements and revisions of existing products , repositioning , and cost reductions

Successful new product development requires clear strategic objectives and priority setting and effective execution across the enterprise . This paper endeavors to highlight challenges faced , and approaches that successful companies took in the launching of their new products in the world market . This is expected to form a marketing philosophy and strategy for any company the wants to launch a new product

This paper focuses on three main areas . With real life examples it identifies challenges a company faces during the product development process which commences with generation of a product idea and climaxes with launching of...