MGT 201 Saudi Electronic University Marketing Management Fitbit Watch Questions All the questions and the requirement are in the attached files, I’ve answe

MGT 201 Saudi Electronic University Marketing Management Fitbit Watch Questions All the questions and the requirement are in the attached files, I’ve answered the assignment but I’ve taken a bad grade due to I didn’t link between the product and questions properly.So, I just need modification for my work to take a full grade.Thanks. Assignment 2
Deadline: 18/04/2020 @ 22:30pm
Student’s Name:
Course Name:
Marketing Management
Student’s ID Number:
Course Code:
MGT201
Semester: I I
CRN:
Academic Year: 1440/1441 H
For Instructor’s Use only
Instructor’s Name:
Students’ Grade: Marks Obtained/Out
of
Level of Marks: High/Middle/Low
Write Questions and Answers Here
CRITICAL WRITING
Today, there is a great multitude and varieties of new products
available in stores and online, from which consumers can choose.
Think about the new products you’ve seen in the past two or three
years, then choose a new product from any category.
Questions
(2×5 = 10 Marks)
1. How would you define the attributes and benefits of the chosen product?
2. Define the core, actual, and augmented product benefits.
3. Briefly describe the steps in the new product development process.
4. Each product will have a life cycle, although its exact shape and length are
not known in advance. Explain each step in the PLC.
5. What are the dimensions upon which a company manages its product
portfolio?
Answers page:
Fitbit watch
AQ-1) The attributes and benefits of Fitbit watch:
The changes in the consumer market place are resulting in new product lines. Most of
the consumer-driven products are attributed to new technology. The new take on tech
and health fitness led to the development of the Fitbit watch. The design of the Fitbit
watch is in making it wearable, which usually worn on the wrist allowing health
enthusiast to track our health progress where ever we are. Fitbit watch has a highquality products provide a variety of collections in different features and colors. The
Fitbit watch tracks the distance we walk, run, swim and the numbers of calories we
burn, some of it versions resist water up to 50 m in depth Also it’s monitor our
sleeping sessions and quality and it has some other features such as GPs, workouts
programs and etc.
AQ-2) The core, actual, and augmented benefits of Fitbit watch:
The core benefit: it’s used by health fitness enthusiast to track their health progress for
better and healthy life as well as it interests the other people to do workouts so, it’s
core benefit is make wearable fitness trackers to help consumers live better.
Actual benefit: Fitbit watch is a hi-tech product just like apple series watch and
Samsung watch but it focus more on tracking the health and fitness by measuring our
movement and motions and converted to us as a data, it is easy to learn and it can be
navigated easily through the watch itself and the mobile phones.
Augmented benefits: Fitbit watch is available in 86 countries and in 8 languages, it’s
became with different colors and versions, it is a high quality watch with a really good
price making it valuable among all the competitors, it’s offer one year warranty to the
purchaser against any manufacturing defects as well as it has after sale service and
warranty website that works to support the consumer.
AQ-3) Steps in the new product development process:
There are eight steps in Fitbit watch development. The first is an idea generation
where new ideas are generated. Second is idea screening, which helps identify the
viability of the ideas. The third is concept testing, which measures whether the
customers understand the product idea. Forth is a business analysis that confirms the
commercial profitability of the Fitbit watch. The fifth is product development. The
product development department will embark on introducing the new product to the
market. Sixth is test marketing, whereby small scales of the Fitbit watch are presented
to the market to determine its reception amongst the consumers. Once test marketing
is a success, commercialization is allowed. Large scale production commences. Lastly
is a review of market performance. Companies need to monitor how new products
perform in the market.
AQ-4) Each product will have a life cycle, although its exact shape and length
are not known in advance. Explain each step in the PLC:
Product development commences with the generation of a new idea. At this point,
Fitbit introduced in Sep of 2009, the company was at zero sales with huge company
investments. The introduction allows for the slow growth of sales of Fitbit watches at
the beginning. Profits tend to be non-existent. There was a substantial expense on
production introduction. The growth period experience rapid market acceptance with
visible profit gains which started in Oct 2010 for Fitbit company as well as the
competitors start at this point to increase. The maturity period will see a slowdown in
sales once the potential buyers have accepted the product in questions and the new
versions coming with no major improvement and change which is the Fitbit watch.
Most of the profits will level off and usually at this point the number of competitors
are stable. As I believe Fitbit company currently is on this maturity period because the
new serious of it still coming out with decently popular items that the competitors
already shared before However, there can be a decline in earnings due to market
outlays. The decline period will see a fall in sales. The company will have to reinvent
the watches’ prospects so that they can beat the competition or drop it when it does
meet its return on investment goals.
AQ-5) What are the dimensions upon which a company manages its product
portfolio?
The dimension includes the product mix, product mix length, and product depth.
Product mix constitutes the number of different watch lines the company carries. The
product mix length refers to the number of watches in the product lines. The
company’s product depth will focus on the number of versions for each product line.
All of that led Fitbit company to improve their competitive positioning by focusing
and working on their first core and now they are planning to enter the market strongly
with new version of health, fitness and entertainment watch such as Apple and
Samsung watches.
References
Kiss, A. N., & Barr, P. S. (2017). New product development strategy implementation
duration and new venture performance: A contingency-based perspective. Journal of
Management, 43(4), 1185-1210.
1. Describe the attributes and benefits of the chosen product?
Criteria/ achievement levels
Student should describe the
attributes and benefits of the
chosen product.
Good mark
Average Mark
Low Mark
Marks: 100
Marks: 50
Marks: 0
Good description of the
attributes (features, functions,
uses, product design, brand
name, level of quality…) and
benefits of the chosen product
(product’s utility, what that
product does for a customer…)
Student describe only few
attributes and benefits of the
chosen product (poor
description).
No response or the whole answer
is false.
2. Define the core, actual, and augmented product benefits.
Criteria/ achievement levels
Student should distinguish
between various levels of a
product.
Good mark
Average Mark
Low Mark
Marks: 100
Marks: 50
Marks: 0
Good definition of the various
levels of a product (the core,
actual, and augmented product
benefits)
Student did not provide clear and
complete definition of the
various levels of a product.
No response or the whole answer
is false.
3. Briefly describe the steps in the new product development process.
Criteria/ achievement levels
Student should describe the
various steps in the new product
development process.
Good mark
Average Mark
Low Mark
Marks: 100
Marks: 50
Marks: 0
Good and clear definition of the
various steps in the new product
development process (idea
generation, ideas screening,
concept development,
marketing strategy, business
analysis, concept testing and
commercialization).
Student did not provide clear
explanation of the various steps
in the new product development
process (correct name of the
steps but poor description).
No response or the whole answer
is false.
4. Each product will have a life cycle, although its exact shape and length are not known in
advance. Briefly explain each step in the PLC.
Criteria/ achievement levels
Student should describe the
various stages in the product life
cycle.
Good mark
Average Mark
Low Mark
Marks: 100
Marks: 50
Marks: 0
Good and clear definition of the
various stages in the product life
cycle (Introduction stage,
Growth stage, Maturity stage,
Decline stage)
Student did not provide clear and
complete explanation of the
various stages in the product life
cycle (correct name of the stages
but poor description).
No response or the whole answer
is false.
5. Which strategies a company should make regarding its portfolio of current and future
products. What are the dimensions upon which a company manages its product portfolio?
Criteria/ achievement levels
Student should explain
dimensions upon which a
company manages its product
portfolio.
Good mark
Average Mark
Low Mark
Marks: 100
Marks: 50
Marks: 0
Good and clear explanation of
the various dimensions upon
which a company manages its
product portfolio (product mix
width, product mix length and
product mix depth).
Student did not provide clear and
complete explanation of the
dimensions (correct name of the
dimensions but poor
description).
No response or the whole answer
is false.

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