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Product Reassessment - Essay Example

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Objective data is measurable information based on signs such on how the product is performing in the market. On the other hand,…
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Product Reassessment
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Download file to see previous pages This essay will provide insight of a plan for repositioning Blu Ray Disk into Korean market by focusing on demographics characteristics based on US census data. Additionally, the type of research needed have been scrutinized as well as methods that can be used to increase adoption rates of Blu Ray Disk. The distribution problems that are likely to be encountered in Korean market and ways of addressing them have been scrutinized.
This may involve determining how the Blu Ray Disk may fit into Korean market given the fact that some new features have been added in order to meet customer’s needs and wants (Pride & Ferrell, 2012). The following are three components for an effective and efficient repositioning of Blu Ray Disk into Korean market; there must be product positioning, market positioning and brand positioning. Product positioning focus on making Blu Ray disk unique from other disk available in Korean market (Clancy, Krieg & Wolf, 2005). This may be achieved by conducting product differentiation whereby, some cognitive and unique features may be added into the Blu Ray Disk to enhance their capacity and usage (Pride & Ferrell, 2012). On the other hand, Market positioning may help in identification of marketing strategies, whereby; the position of available and impending competitors may be evaluated. Additionally, SWOT analysis model may be applied to identify strength and weakness of competitors in the target market (Pride & Ferrell, 2012).
Finally, brand positioning focus on taking into consideration the following attributes; consumer perceptions, brand attributes, price attributes and competitors’ attributes (Pride & Ferrell, 2012). Consumer perceptions may help to evaluate the minds of consumer concerning the available products supplied by the company (Pride & Ferrell, 2012).The issue of price should be taken into consideration. The company should evaluate their prices in relation to those of competitors in ...Download file to see next pagesRead More
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