Individual Assignment 2 Essay

Submitted By Ledgers107
Words: 1749
Pages: 7
Open Document
Bill Ellis
Individual Assignment
Unit 2 – Marketing and Brand Management

Nissan is currently considering expanding its product line to introduce a new product. This product will complement the current products offered to consumers. The company would like to provide consumers with a differentiated innovation that will increase both sales of current products as well as the new product line.

Nissan is involved in the transportation industry, namely the sale of various automobile models. The company earmarks 4% of sales to research and development, which is high for the industry. With the high prices of fuel, environment concerns throughout the world, the rising costs of automobile production as well as the rise of automobile insurance rates, the ability to provide a targeted group of consumers with an alternative to the automobile would be a benefit to the company and its shareholders.

I am recommending that Nissan research the feasibility of producing electric scooters to complement the current product line. This product would appeal to the millennium generation in that it would provide them with affordable transportation, a new mode of travel that is not saturated in the USA and Canada, as well as a product that alleviates parking problems, pollution, and high costs. Currently in Canada, new drivers are required to wait 12 months before they can be road tested in order to obtain a driver’s license. This means that new individuals out of school that do not have a driver’s license must find alternative ways of transportation both to and from work and for social outings. The proposed product would be designed so that it meets the regulations that do not need an automobile driver license. The Insurance Corporation of British Columbia, Canada, does not require driver licensing for electric scooters. The company could sell consumers additional features such as rain protection, winter tires and smartphone plug in radios, to name a few options.

In order to determine the feasibility of this new and innovative product line, Nissan would need to do the necessary market research in order to determine a number of important variables. In the next section of this report, I will recommend and discuss some different market research approaches that the company could proceed with, as well as a discussion on what these market research approaches should provide the company in making a decision to produce and sell this new product.

Market Research Approaches:

An important factor in the success of determining a new product is determining what the needs and wants of consumers are (Cooper & Kleinschmidt 1987). Consumer needs and input is especially important in the fuzzy front end (FFE) of a new product development (Gruner & Homburg 2000). In the fuzzy front end, activities such as product strategy formation, analysis of opportunity for the new product, idea generation and selection, and pre-screening (Khurana & Rosenthal 1998) are researched.

Market research can be done in a variety of ways. Organizations can decide to do market research in house, a combination of in house and external research, or the use of the full services of a marketing research agency. Before any actual research is performed, it is important that research planning be done with a formal research proposal being prepared outlining the purpose of the research, what information is necessary, a timeline for the gathering of the marketing research, and the cost associated with the project.

The following research methods have been chosen for Nissan in gathering information in regards to the production and distribution of the new product that has been suggested in this brief:

1. Survey research – Mail, Telephone, Personal Interviewing

Qualitative research aims to determine customer attitudes, values, behaviour and beliefs. It is geared towards seeking the ‘why’ and ‘how’ of consumer behaviour. Focus groups, in house group discussions, and online
Show More

Related Documents: Individual Assignment 2 Essay

Nt1330 Unit 2 Individual Assignment

Overall Experience I interned at Avalon Software Consulting for 5 months during the Fall of 2015, from early August until the end of December. Founded in 2005, Avalon Software Consulting is a rapidly growing consulting company with focus to deliver laboratory quality management software to textile manufacturing companies in Florida. I became familiar with Avalon Software Consulting through the email that Karen Brown sent to the department mailing forum about the internship opportunity. The internship…

Words 1624 - Pages 7

Pt1420 Unit 2 Individual Assignment

After going over our stories in class today, you can say group 2 is very diverse. What really stood out to me after listening to all of our stories is that; we all have parents or grandparents that have migrated to the United States from somewhere else. Additionally, we all have kind of the same support system behind us while we pursue our degrees. Alex is a 21-year-old student, whose drive has gotten her to accomplish her degree in 4 years. She comes from a mixture of backgrounds: Hawaiian, Italian…

Words 538 - Pages 3

M1 Unit 2 Individual Assignment

suggestions for it. Unit 2: I also enjoyed this unit, since it helped us understand how to write for a business setting, and writing for the unit basically gave us a resume and cover letter that we could use in the near future. I don’t have any suggestions for this unit. Unit 3: I feel like this unit went by really fast, so a suggestion for this unit would be to simply make it longer. Unit 4: This unit is one that absolutely terrified me, since it was the first writing assignment that I have had that…

Words 355 - Pages 2

Sp2750 Unit 2 Individual Assignment

Romana is finishing her A levels in ICT, Media Studies and Business Studies at Heaton Manor school. She has recently accepted a job at Sky, the call centre, working part time, which requires her to answer phone calls on a desktop. She walks to school and her journey to work as she believes it’s a way of living a healthy lifestyle. However, she has issues ensuring her posture is straight and wants to ensure she can change this. I have carried out research through asking local residents. I gained a…

Words 459 - Pages 2

Nt1330 Unit 2 Individual Assignment

and globalization, effecting migration, food production, climate change and our own personal views of the world around us. We find ourselves faced with a wide spectrum of human and environmental issues, stretching from the local to the global, the individual consumer to a multi-national corporation, and it is there, in the in - between, where the skills of an anthropologists are vital. As an anthropologist, I am capable of analyzing cultural differences, societal issues and asking the right questions…

Words 465 - Pages 2

Nt1310 Unit 2 Individual Assignment

This week as required by the assignment, I observed myself three times a day using services and products, especially technological items and convenience (goods) products. When I bought technological items specifically, my laptop, the price of the specific product I needed was really high and it was of a high quality. These elements present in the product stimulated me to develop personal affection for the laptop. In other words, I had a positive response because the quality was good and the price…

Words 491 - Pages 2

Nt1330 Unit 2 Individual Assignment

sales. Essential fields for GST Invoice Generally a tax invoice or bill is issued for charging the tax and passing it on the input tax credit. A GST Invoice should have the following mandatory fields. Take a look at them. 1. Invoice Number and Date 2. Name of the customer 3. Customer and taxpayer GSTIN 4. Shipping and Billing Address 5. Details of the item. 6. Taxable discounts 7. Signature of the GST Supplier. 8. Place of Supply…

Words 497 - Pages 2

Nt1310 Unit 2 Individual Assignment

The videos, “Word on the Street: Transform”, and “Melting Ice” both align with the standard “2-PS1-4. Construct an argument with evidence that some changes caused by heating or cooling can be reversed and some cannot”, making the videos suitable for a 2nd-grade classroom. The student learning objectives for “Melting Ice” are that students will be able to learn about the states of matter, solids, liquids, and gases. As for the skill objective, students will be able to observe different items and work…

Words 647 - Pages 3

Nt1310 Unit 2 Individual Assignment

I arrived at the kiosk and Daniel was assisting another customer with some problems they were having with the smartphones. I took that time to look at the devices and notice the Samsung display was the only display with non-dummy phones. Samsung had the new Galaxy S8 Pro Camera on the TV screen on display. Daniel came to assist me when he was done with the customer, he did not greet me are stop to say he would be right with me. Daniel was focused on the customer he was assisting. Daniel asks how…

Words 494 - Pages 2

Nt1310 Unit 2 Individual Assignment

An electronics hobbyist since second grade, invention and innovation are a second nature to me. As a tinkerer and maker with a massive collection of modules and components, I build gadgets around my home or simply experiment with recent technologies. At work too, I have been fortunate enough to have worked on multiple innovative, industry-first technologies that led to peer recognition by elevation to the senior member grade of IEEE. Although involved in several product innovations and patents during…

Words 1155 - Pages 5