Question

4. Given what you've learned about the product life cycle, why might it be wise for a consumer to wait a few months before purchasing a newly launched product?
5. Which distribution channel do you think is most effective for companies? Why?

6. What type of promotions do you think are most effective in the sports and entertainment marketing industry? Explain.

7. Do you think personal selling is more effective than advertising? Why or why not?

8. Why would you need to analyze your competition before commercializing a new product?

9. Other than a sale, what are some other results of an advertisement that a company would find beneficial?

10. Do you think that negative publicity is better than no publicity at all? Explain.

Answer 1

4. Based on my understanding of product life cycle, it is advisable for a consumer to wait for a few months before purchasing a newly launched product because  within that time frame, the company's competition mar release a newer, better product, which may have better technology.

5. I think the E-commerce is the most effective distribution channel for companies. This is mainly because just with a few clicks, the customers or consumers can have any product they want at their doorstep in a matter of days or sometimes, in a matter of hours.

6. When it comes to sports and entertainment marketing industry, publicity is the most effective type of promotion. This is because  it helps consumers to see products in a specific way. Usually, consumers are interested in products that are ”hot” on the market right now.

7. Going by my understanding, I believe that personal selling is much more effective than advertising. I believe so because personal selling tends to make the customer to want to come back and buy more products, since it affords face-to-face meeting with the customer.

8. It is highly expedient to analyze your competition before commercializing a new product because if you don’t, you may release the same product that your competition has, without better features (or even products with less features), and people will be less likely to buy from you.

9. Apart from a sale, some other beneficial results that a company can get from an advertisement is that eve if consumers don't purchase the product right now probably because they don't need it yet, when the time comes that they need the product, they will go back to that brand they saw on the advertisements.

10. Yes, I strongly believe that negative publicity is better than no publicity at all. Ultimately, any form of publicity (positive or negative) draws some sort of attention to the brand and some people may even want to get the product to confirm if they truly are horrible or not. It all brings in money for the brand. The only exception to this may be if a brand has criminal charges against them and is on the news. This is not likely to generate any "traffic" from consumers.