Need two responses for two Marketing posts. 100 words each. Will need 1 journal reference for each. Details to follow.

Here is the info you will need. Respond to the two below post. 1. To introduce a new brand extension requires a bit of a leap of faith insomuch as it relies heavily on the quality of the initial branding. Kotler et al indicates that nearly 80%-90% of most new products are simply line extensions of an existing brand every year, and that many of the most successful products are line extensions (2012). There are several advantages and disadvantages to releasing a line extension, and each must be considered closely. How a consumer feels about the parent brand plays a factor and can improve the odds of success if the consumer feelings are positive. A firm must also consider the costs associate with marketing a new line extension, which can often be absorbed though reduced costs in launching an extension versus an entirely new product. With a strong parent brand but subpar performance, a line extension can re-kindle interest in the parent brand as well. Additionally, a successful line extension can also help generate future successful line extensions if the extension is promoted properly and accepted by the consumer. However, with all the positives of a line extension, a major disadvantage is brand dilution, or the linking of the parent brand to the new brand which does not fit what the parent brand initially stood for. Take Johnson and Johnson for instance. Can you really identify J&J with any product category, or does it simply seem as a catch all for a wide variance in products? Sure they make baby shampoo and other consumer hair care products, but they also make Tylenol and the Splenda brand. These additional products, if marketed as line extensions of existing products would have diluted the brand, but they were created as new products under a new brand thus helping keep the J&J name intact and easily recognized.
User_6113 | Feb 21, 2015, 11:26 AM

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2.When organizations with successful track records pursue new endeavors, they must weigh key variables such as the make-up of the product itself, the manner of communication that the firm will opt to employ, the appropriate markets for the new offering, and the anticipated consumer response. Even the best firms face significant challenges with a new rollout and often lack essential data and information. To bridge these knowledge gaps, traditional approaches have included the purchase of market research, utilization of focus groups, A-B web testing, interviews of prospective users, and market-validations with test sales (Robinson, 2014). These approaches do encompass some limitations and managers often supplement these by opting to develop the Minimum Viable Product (that which yields the best margins relative to risk), employing the scientific method in a manner relative to product development, and reversing traditional development processes from design-build-sell to sell-design-build (Robinson, 2014). Astute managers should also have familiarity with the Consumer Adoption Process and key components that influence this. Essentially, these organizational leaders should carefully consider how to best communicate their message in order to promote awareness, interest, product evaluation, trial, and adoption while concurrently understanding the unique attributes associated with innovators, early adopters, early majorities, late majorities, and laggards (Kotler and Keller, 2012, p. 587). Additionally, the best innovators employ certain approaches to new offerings. A review of several organizations across 17 industries found that companies that successfully innovate balance their pursuits in terms of risk, prioritize among products that align with the needs of the market and the organizational strategy, analyze customer feedback in order to deliver products the market wants, promote automation to allow for greater efficiencies, and encourage collaboration amongst key stakeholders (Cranell, 2011).
User_6113 | Feb 21, 2015, 11:27 AM

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Had to separate the two. Thanks.
User_6113 | Feb 21, 2015, 11:28 AM

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okay
User_3964 | Feb 21, 2015, 11:31 AM

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can have the assignment completed by 8:00 PM EST today?
User_6113 | Feb 21, 2015, 13:57 PM

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can have the assignment completed by 8:00 PM EST today?
User_6113 | Feb 21, 2015, 13:57 PM

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Can you please have the assignment completed by 8:00 PM EST today? Thank you.
User_6113 | Feb 21, 2015, 13:58 PM

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Done, kindly release the funds as I upload. Thanks
User_3964 | Feb 21, 2015, 21:26 PM

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Done, kindly release the funds as I upload. Thanks
User_3964 | Feb 21, 2015, 21:27 PM

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Hello, I don't see the file. Please advise.
User_6113 | Feb 22, 2015, 02:34 AM

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Okay let me upload them and please don't forget to release the funds after you review the assignment
User_3964 | Feb 22, 2015, 02:37 AM

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There you have them, again, don't forget to release the funds. Thanks
User_3964 | Feb 22, 2015, 02:44 AM

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