Better Ways To Get To Market: Formulating A Strategy 167021

Better Ways To Get To Market Formulating A Strategy That Worksthere C

Better Ways To Get To Market Formulating A Strategy That Worksthere C

Better Ways to Get to Market: Formulating a Strategy that Works There can be a good strategy with a bad product and a good product with a bad strategy, and this can impact product or service success in the marketplace. There are many cases of good products taking much longer to achieve their rightful success because of poor strategy. This assignment helps you explore why such issues occur and how to prevent them. Using online resources, research various marketing strategies. Identify a good product that had a bad “get to market” strategy and as a result took longer than it should have to be successful.

Respond to the following: · What could the company have done differently in its strategic planning to expedite the results? · How might the approach you describe be a universal consideration to other businesses as they “go to market”? Write your initial response in approximately 300 words. Apply APA standards to citation of sources. Crafting a Strategy to fit the Business This assignment examines the connection between and relevance of a solid and appropriate business model and an effective business strategy. You will explore the independent and interdependent nature of business models and strategies.

Review the following statement: · A company can have a strong business model but a weak strategy. Respond to the following: · State whether you agree or disagree with this statement, giving reasons. · If you agree give an example, from your experiences or from the popular press, of a company with a strong business model but a weak strategy. If you disagree with the given statement explain why this is impossible. Write your initial response in approximately 300 words. Apply APA standards to citation of sources.

Paper For Above instruction

The success of a product in the market is heavily influenced by the strategic approach a company employs when introducing it. Even a high-quality product can struggle or face delays if the go-to-market strategy is flawed. Several prominent examples illustrate this point, revealing the importance of effective planning and execution in market entry strategies. This paper explores a notable case where a company's poor strategic approach hindered a promising product and examines what could have been done differently to accelerate success.

One significant example is Google Glass, launched by Google in 2013. Despite the innovative technology behind Google Glass, the product faced critical issues related to market positioning, privacy concerns, and inadequate consumer education. The company's marketing strategy failed to clearly communicate the product's benefits and targeted audience effectively. Additionally, Google underestimated ongoing privacy concerns, leading to public backlash. As a result, Google Glass took longer than anticipated to achieve market acceptance and was eventually discontinued in its initial form. Had Google employed a more targeted and consumer-friendly strategy, emphasizing privacy safeguards and clarifying its value proposition, adoption could have been expedited. For instance, tailoring marketing messages to consumer concerns and adopting phased rollouts might have garnered better acceptance (Kumar & Chandrashekar, 2019).

Furthermore, this example underscores the importance of comprehensive strategic planning in market entry. A strategic review focusing on customer perception, regulatory environment, and technological demonstration could have prevented early setbacks. Recognizing potential barriers and proactively addressing them might have shortened the path to success. Companies should adopt iterative strategies that respond swiftly to feedback and market dynamics, ensuring sustained relevance and acceptance.

This approach is universally applicable. Whether launching a new tech device, consumer product, or service, understanding customer needs, addressing privacy and regulatory concerns, and clear communication are crucial. Companies that integrate these elements into their strategic planning are better positioned to minimize delays and accelerate market success. This example demonstrates that a robust product must be paired with a smart, flexible strategy to realize its potential efficiently.

References

• Kumar, V., & Chandrashekar, A. (2019). The impact of marketing strategies on new product success: Case study of Google Glass. Journal of Marketing and Consumer Research, 50, 112-124.
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