MKT619 Research Proposal Format on Comparison of Product Strategies.
Product strategy is like a road map and like a road map it’s useful only when you know where you are and where you want to go. (McGrath 2001)
Product strategy is one of the core component of the overall marketing strategies. It is the heart of the firm’s overall strategies. To survive and succeeded in a competitive market a firm must continuously monitors the need of its target customers and satisfy the customers by making changes in its product in line with the changes in the need. A product strategy is a process that allows an organization to concentrate its limited resources on the greatest opportunities to increase sale and achieve a sustainable competitive advantages.
It should be centered on the key concept that customer satisfaction is the main goal. It is most effective when it is an integral component of corporate strategy; how the organization will successful engage customer’s prospects and competitors in the market arena. Customers constitute the source of company revenue through sale .
A key component of Product strategy is often to keep marketing in line with a company’s overarching mission statement. A product strategy can serve as the foundation of a marketing plan. A marketing plan contains a set of specific actions required to successful implement a product strategy. For example “use a low cost product to attract customers” It must take in account the capabilities in terms of engineering of production of distribution existing in the company or of time to acquire them. It must evaluate the customer’s expectations at the time of delivery.
TABLE OF CONTENT
Chapter No 1
Introduction of the project…………………………………………….……………………
Background……………………………………………………………………………………….
Objective……………………………………………………………….………………………….
Significance………………………………………………………………………………
Chapter No 2
Project Proceedings………………………………………………………………………
Chapter No 3
Methodology………………………………………………………………………………….
Data collection source……………………………………………………………………..
Primary data………………………………………………………………………………….
Secondary data……………………………………………………………………………….
Data collection tool/instruments……………………………………………………….
Subjects/participants………………………………………………………………………
Targeted population…………………………………………………………………………
Sampling frame/size…………………………………………………………………………
Sampling techniques…………………………………………………………………………
Field work/data collection…………………………………………………………………
Data processing and analysis………………………………………………………………
Bibliography……………………………………………………………………………………
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