Aug 07, 2017

How would you market that product?

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Marketing Plan for Comcast XFinity

INSTRUCTIONS:
You are the CMO of Comcast XFinity; you will have a $20 million marketing budget Your assignment is to develop a plan and rationale on how you will spend your $20 million in marketing to further the goals of the company Wr to use information about key marketing concepts: positionining, branding, advertising and marketing strategy. How would you market that product?
CONTENT:
Marketing Plan for Comcast XFinityStudent:Professor:Course title:Institution:Date:Marketing Plan for Comcast XFinityIntroduction The new brand introduced by Comcast XFinity is an integration of new features in the company`s products and services. This is meant to offer the clients more speed, more HD, more choice and more control for the products and services. The main challenge for Comcast will be creating awareness to customers on the newly branded XFinity for the product platform. This is because many customers had been accustomed to the old brand of our products; hence, they will find the new brand quite different. The rebranding of Comcast products into XFinity may also confuse customers who were already accustomed to the old brands. Comcast however will ensure that customers are truly satisfied with the best services. This will make them be confident with the new brand. The company will also undertake an extensive awareness program to ensure that customers are exposed on the goals of XFinity.Comcast Competitive AdvantageThe high quality, efficient and vast range of our products and services has created a competitive advantage against similar firms. The company uses the coaxial cable in providing services to clients, which is more reliable than other cables. Moreover, the company has a huge investment in improvising the available infrastructure in its continuous technological improvement. In general, much of the competitive advantage for Comcast relates to its mission of video on demand, quality pictures, exclusive networks and customer satisfaction. These factors make our customers prefer our products to those of the competitors.There is however, a need for market research to be conducted in order to establish the market value and demand, distribution channels, competition and so on. Because we live in a dynamic world, there is a need to acquire updated information in relation to the same. Additionally, the research will enable us understand the changes in technology, consumers tastes, product ranges of competitors and economic conditions. Before designing and planning the marketing strategies, I will as the CMO first analyze the target market aimed for the product in terms of size, trends, growth prospects as well as the sales potential. The main marketing strategies like product positioning, branding, advertising among others will be applied accordingly in marketing of the product in order to improve sales and the company`s revenue and profitability. The $20 Million set aside is adequate, and will be appropriately spent in the marketing process through the following ways:Product Positioning As Gambetti points out, product positioning relates to the creation of a perception on the target consumers` minds regarding the product and involves the development of the product image directly against the competitor`s offerings. Therefore, product positioning will enable the target market to develop a specific perception regarding the company a...


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