“Demand, Cost and Price”
Referring to the same novel health care product or service you came up with last week (Discussion 2, Part 2), determine how you would assess demand for and the cost to produce your product or deliver your service. Provide specific examples to support your response.
Referring to the same product or service, set a price for your product or service. Explain your rationale.
********This is a Discussion, not a paper. Need a strong paragraph with references.*********
(****LAST WEEKS DISCUSSION****)
â€œDeveloping and Branding New Offerings”
The developments of methods of production in the modern current market set up as been improved by the increase of speed of output, quality and also the efficiency of production. The products must also be directed to the right channels of output and distribution. The companies also should use wisely the available resources and be eco-friendly when applying the technology. The best example is when the production of Beef meat is not well preserved before going to the primary market (Ambler & Styles, 1997). This may lead to the high loss in the company. The brand manager is the person who manages the product and is always aware of the market trades well. The manager will run on all sides looking for the best markets to improve on the selling of its products. The management should also check more on its sources of raw materials and the channels of demand and supply. The best example of brand management is Coca-Cola Company. They have been able to sell their products in most of the countries in the world.
Ambler, T., & Styles, C. (1997). Brand development versus new product development: toward a process model of extension decisions. Journal of Product & Brand Management, 6(4), 222-234.
Sprott, D., Czellar, S., & Spangenberg, E. (2009). The importance of a general measure of brand engagement on market behavior: Development and validation of a scale. Journal of Marketing Research, 46(1), 92-104.
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