My new and improved products!
In Reid Bojanic’s text book on Hospitality Marketing Management he describes three reactive ways to build new products. In this blog I will discuss these three ways by describing briefly a new product for each of the strategies; Defensive, Imitative, and Responsive:
– Kelsey’s dinner and a movie is a great option for a couple or some friends to take advantage of for its great price and a convenient night. As a defensive strategy I would instead off a family alternative. I would offer the convenience of staying at home with young children but still going out to have fun. My product would be order 2 large pizza’s and a one letter of cola and with it would come the benefit of a free round of mini put for 5 people. This way you don’t have to worry about ordering a meal for each individual child and making sure they behave, but you still get the opportunity to go out after as a family and enjoy a night together.
An imitative strategy involves copying a new product or service before it can have a large impact in the market. This strategy is particularly appealing when the product or service is not unique or when it can be easily duplicated.
– My Imitative strategy would be copying the new Tim Horton’s smoothies. Tim Horton’s just came out with new smoothies. They only have two flavours, Strawberry Banana or our Mixed Berry and you can add yogurt to make its smoother for 60cents extra. This add to their menu was suppose to be a health alternative because the drink only starts at 160 calories. I would take this drink and compete by having yogurt included in my drink as well as adding to the variety of flavours. It would be a great because now those who like the Tim Horton’s smoothies can get the same thing but with more variety and better quality.
A responsive strategy is where firms are responsive in that they react to the demands of customers.
– A product that is under a lot of competition is the cell phone. There are always new phones offering something better then all the rest like the iPhone 4 or the Blackberry Torch, but in my opinion they all still are way over priced. Compared to other countries Canada is way behind in cell phone technology and if I was to make a responsive product that is a react to the demand of customers I would create a phone and a phone plan that offers all basic needs and maybe even some cool extras. It would be affordable and practical. As a student I can really speak to how well this idea would develop. Ottawa has three major education facilities filled with student who are trying to afford life. This phone would be a great development and would defiantly have success.