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Marketing - Coursework Example

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Marketing Assignment) Marketing As stated in Kinsman, Kotula, and Breidenstein (1994), the major disadvantages of test marketing are lack of accuracy, chances of misrepresentation, and high initial cost (p.468). Since test marketing collets the information on a random basis, it may not represent the actual trend of the region…
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Download file to see previous pages... In addition, it involves high initial cost since it needs the support of skilled faculties and well designed marketing charts. The application of scientifically developed questionnaires would assist the marketing team to reduce the errors to some extent. It is also discovered that an efficient market planning program would help the marketers to bring the associated costs within the framed budget. Ford Edsel, New Coke, and Beta Max Video are the three products whose adoption rates have been affected by factors like compatibility, relative advantage, and trialability. Economists have opined that the failure of Ford Edsel can be attributed to issues associated with adoption rates which arose from the factors of relative advantage and compatibility. It had not any attractive features more than other models of the ford. Similarly, the adoption rate of New Coke, a product of Coca-Cola has been affected by compatibility and trialability. It failed to assess customers’ interests. The feature of relative advantage negatively affected Beta Max Video, a subsidiary product of Sony. It had possessed almost similar features as that of the previous model U-matic. ...Download file to see next pagesRead More
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