Marketers must pay attention to marketing implications that differ across cultur
ID: 430396 • Letter: M
Question
Marketers must pay attention to marketing implications that differ across cultures and geographic boundaries as well as trends over time. How consumers react to a new product or service may determine a company’s success or failure.
For this week’s Application, you will examine a current marketing challenge faced by a business or industry. You will conclude your paper by proposing solutions to resolve or mitigate the challenge you have identified.
To prepare for this Assignment: Research reputable business publications for a marketing challenge or problem described in a recent (no older than six months) issue. Suggested publications include Bloomberg Business Week, the Wall Street Journal, or other respected business publications. If you are not sure if a publication is a good source, please consult your Instructor. Consider whether the challenge is related to a failure to utilize an innovative strategy correctly or whether a traditional marketing strategy has failed to innovate and adapt in the current competitive environment, for example
Explanation / Answer
Consumers reaction to a new product or service affects a company's success or failure.
This assignment is about the problems faced with Apple Inc.'s Homepod Smart speaker as also discussed in Bloomberg business week. The product lacks some features. Most functions are compatible with Apple products only. It is limited to playing tunes from Apple music, takes messages from Iphone, controlling limited smart phone appliances and cannot work as a smart speaker in a manner like Amazon Echo and Google Home. It is costly than smart speakers. It was launched after the Holiday season so it missed the sales. Customers also complain that it leaves a ring when placed on the wood.
In this case, Apple has not been able to adapt the product as per the competition and customer expectations. It is an innovation Apple has been working upon since sometime. Apple has acknowledged the shortfall the product has meeting in customer expectations and market trends.It will work on improving the product as well as launching new products in market like Airpods to win customers.
The solutions to marketing challenges like having a customer disconnect or falling short of meeting customer expectations can be addressed by the business or brand sharing its views on the product, the reason behind its launch and the future actions that will be taken to improve the product or strategy. This will help to mitigate the customer dissatifaction problem and losing any customers. The business can offer free after sale service to solve any challenges faced by the customer in using the product and offer solutions to help the customer use the product properly.