Public relations
Scenario:Using the same organization and product/service you used in the Week 3 learning team assignment and the same scenario, you will be presenting the following analyses to the board of directors and stakeholders. They will be using these analyses to make their final decision on how, and if, to launch your company’s new and unique product/service.
Develop a 250-word analysis addressing the following:
- Conduct an environmental scan for your company focusing on which of the five external forces the company is likely to be impacted by and what actions they will need to take to overcome them.
- Select and describe the price strategy your company will use to launch its product/service. Why is that strategy the best choice and will it need to be adjusted over the duration of the Product Life Cycle (PLC)? Why or why not?
- Select four of the following methods and explain how they should be used by your company. Explain the reasoning why they align best with your target segment and product:
- Advertising
- Public relations Write about this one only disregard others.
- Traditional Digital marketing
- New Digital marketing techniques (describe)
- Sales promotion
- Direct marketing
- Event marketing
- Outdoor
- Analyze how your company will implement the New-Product Development Process (seven stages) to bring your product/service from concept to commercialization.
Cite a minimum of three peer-reviewed sources.At least one source should be from the textbook and at least one source from the University Library.
The most dangerous factor that is likely to face our company is the economic issues which involve the spending habits of consumers as well as a highly competitive market (Bhattacharya & Sen, 2004). The best solution to take in this case is differentiation of products to give the consumers a unique result and hence reduce the amount of competition.
The penetration pricing is the best strategy that the company uses during a product launch to ensure that it gains quick access to the market.