discussion board question
Following your review of the articles below on the Marketing Mix and Product, share a synopsis of the product strategy and branding concepts discussed. Read each of these articles and write a synopsis of your reading. Keep the overarching theme, “Product Strategy and Branding,” in mind.
Use subject headers that include the name of each of the articles below that you are covering – for example – Article # 1 – The Elements of Value and provide your key learnings. Then the final and fourth subject header should be Conclusion. Wrap-up final thoughts here over the articles…which did you enjoy the most. Cite the new Journal article here as well.
- Constantinides, E. (2006) The Marketing Mix Revisited: Towards the 21st Century Marketing, Journal of Marketing Management. doi.org/10.1362/
026725706776861190 - Almquist, E.; Senior, J.; & Bloch, N. (2016). The elements of value. Harvard Business Review
, 94(9), 46-53.
- Bergh, C. (2018). The CEO of Levi Strauss on leading an iconic brand back to growth. Harvard Business Review, 96(4), 33-39.
Requirements: short
the articles are listed in the instructions.
- Constantinides, E. (2006) The Marketing Mix Revisited: Towards the 21st Century Marketing, Journal of Marketing Management. doi.org/10.1362/
026725706776861190 - Almquist, E.; Senior, J.; & Bloch, N. (2016). The elements of value. Harvard Business Review, 94(9), 46-53.
- Bergh, C. (2018). The CEO of Levi Strauss on leading an iconic brand back to growth. Harvard Business Review, 96(4), 33-39.
Answer previewAlmquist et al. (2016) begin by criticizing marketers for placing too much attention on the prices of their products rather than the value the product offers to their customers. Even though managing pricing is essential, it should not push them to ignore other critical facets such as what customers’ value. Pinning down exactly what consumers value is not easy, and as such many organizations tend to use discrete choice analysis and consumer research techniques to try and figure this out. However, using these tools and techniques might not be effective considering they evaluate customer reaction to preconceived concepts of value, which might not be accurate. According to the authors, although consumer preferences might be individual, certain universal preferences, especially when it concerns the value people attach to a product (Almquist et al. 2016). Once organizations understand these universal values, they can use them to determine how to design their products that appeal more to customers.(620words)