Hospital product evaluation and new division strategy

Branding and New Product Development

One of the biggest challenges for marketing any product is determining how to ensure that the message reaches the target audience. The best way to achieve this objective is to look at the underlying strategy and decide the most effective approach that can be utilized. In these case studies we will be examining, these factors and how to reach out to customers are an essential part of any business.

What is the product evaluation?

A product evaluation is when you are looking at the merchandise and determining the various attributes of what is being delivered. These include: the price, the market, possible challenges with providing it and the strengths of product. In the case of the hospital that we are looking at, their evaluation is going to be based on: the demographics of customers, possible government regulations, the costs and the profitability for the organization. These different elements are important, because they will help an entity to determine the economic viability of their merchandise and the possible challenges they could face in delivering it.

1B. Should the new division make evaluations the same way as our divisions that make goods?

No. This is because the new division is going to be focused on effective marketing and delivering the product to customers. This means that they cannot utilize the same kind of strategy. As, this will prevent them from: offering the best services available and adapting to the changes that are occurring in the industry. Therefore, there needs to be an approach taken that will allow the new division to most effectively respond to the needs of customers. The only way that this can be achieved is by taking a different approach when it comes to product evaluations.

Branding

1. Evaluate the appropriateness of Kapferer's Brand identity Prism and Gad's 4-D Branding model in helping organizations develop brands which communicate clear values and meaning to their target audiences. Provide a range of examples to illustrate and support your answer.

The 4D Branding Model is effective because it helps an organization to develop products and communicate how they can address their underlying needs. This is based on four different categories to include: functional, mental, social and spiritual. A good example of this can be seen with I Pod. As, this addresses the functional need through: creating a new way to listen to music. The design and the use of the product created favorable views in the minds of consumers. At which point, there were social perceptions about how it is considered to be superior to others. Once this occurs, it creates fierce amounts of loyalty among consumers, with this being a must have product. (Pride 2009, pg. 105) (Duong 2010, pg. 6)

2. Clearly established and well understood brand associations help define a brands position in the mind's eye of the consumer. Evaluate this statement with reference to examples to support your answer.

This statement is correct. Those products that have established and favorable perceptions help to determine if it is in demand. This is because consumers will perceive them as a superior in quality to other products on the market. A good example of this can be seen with the I Pod. Despite the fact that there are similar products on the market, they are seen as superior because of: how well-known and established they are. This means that they can be able to effectively market new models. At which point, consumers will want to purchase the latest version because of these factors. (Pride 2009, pg. 105)

3. Category Need, Brand Awareness, and Brand Attitude are important communication objectives, but the most important is Brand Purchase Intention; because in the end, if the consumer does not buy the product, our communication has been a waste of time and money. Critically assess the validity of this statement, using a wide range of current examples to support your answer.

This statement is valid, because consumers must want to have the underlying product or service that is being provided. Using the I Pod example, what makes it so successful is because Apple has created such favorable views in the minds of customers. Where, the must have mentality occurs when introducing new products and services. As a result, whenever the company is initiating something new, a wide variety of individuals have automatically made up their minds about purchase it. (Pride 2009, pg. 105)