MARKETING ESSENTIALS

Marketing Essentials

Question#1

We live in the age of volatility and change, yet as for companies we want to invest in and to be served by them will be in 10 years times & beyond (Deloitte, 2012). It can be inferred that in future the changes in demographics, values and beliefs, economic trends, technology are for sure to appear on the surface of business environment. The consumers spending pattern therefore would be changed in the future (McRae, 1995).

The environment of 2020 will be quite different as compared to today, the needs and wants of consumers will be different either it's related with television or somewhat of else things(Lehman and Little, 1998). The users would be expecting the product like “just for me design”. The media landscape is evolving at a rapid pace. To examine the opportunities that the new environment is creating for the television platform, we will commission a documentary Series that examines the new TV landscape from a number of different perspectives. The question is what surprises will the next episode bring? Television is upgrading and changing into super and medium highly networked, social and interactive, occasionally in 3D, but we expect for the future a connected television means merging television and web, access of game, mobile any many other features. Mostly peoples pen 223 minutes each day watching television according to survey, simultaneous use of television and information and communication space leads o comprehensively transformed media experience which enables users o make their own programs , where as television will become the center of the home intelligence , a game center and a conference system.

If today we have broadcasted stationary television with limited interface focused on entertainment and news, so in the future we will be having narrow cast, dynamic television with expanded interface and personalized television with expanded functionalities. If we make increased intelligence, interaction and coverage infrastructure will make tomorrows television an element of novel media use situation.

Product

Television is the product I choose as it will be anywhere through mobile technology, immersive, virtual get together in living room, and merging television with web will enable to face 2020 challenges; it will be thinner and larger than we have today (NY Times 2010). Social media attraction has been increasing since its appearance in the world, however somewhere in the future it would reach to its saturation point. Moreover, the emergence of smart phones, social networks might affect the cosines of our rooms. However, the development of technology has enabled the TVs to be in different forms such as 3D, high-networked, multifunctional, individual tailored etc. therefore the product (TV) will include the forms of connected, social, immersive and mobile TV.

Price

It will be wedged somewhere between that of competitors, and the price is itself becoming an uncompromising sign of products quality. Since, setting prices will definitely vary due to the income and spending pattern of consumers and the limitation of resources in 2020 (Mckinsey and Mckinsey 2011).

Place

Same as before consumers can purchase the product at their nearest end electronics store, ...