MK 491 Seminar in Marketing Essay Example | Topics and Well Written Essays - 1000 words

MK 491 Seminar in Marketing - Essay Example Company’s distinctive capabilities refer to the ability of the company to give the customer the value of the product as the customer desires. The company has to ensure that the product they are selling has some added value that will attract the customer. The prices set for products or services should suit the desire of the customer. The strategy of the organization is determined by the capabilities of the organization. Capabilities of a company refer to the things the company does best, to develop their business and to differentiate the products and services in the market. The capabilities of the organization must aim at meeting the demands of the customers (Zwick & Cayla, 2011). These capabilities determine the value added to the products and services. The capabilities of a company should also be exclusive to that company, so as to prevent imitation from competitors. A lot of corporate capabilities enable the company to achieve its strategy. The introduction of a new product to the market requires the consideration of the following factors. First is the estimation of the market opportunity for the new product this will make an estimate the market prospective and the character of the opportunity. Second is to come up with a support system for the new product that will deal with the identification of issues concerning the new product. Also, consider carrying out test marketing just before launching the new product in the market. Finally, the organization could consider formulating forecast of the sales that looks into the market response to alternatives of the new product. Segmentation of the market refers to the process used to spot major groups that have similar customer habits and the same characteristics. The advantages of market segmentation include: the company is able to set up marketing strategies that focus on the varying groups the company can develop new products or services that