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Developing Marketing Strategy

Need help in preparing a 800 word report explaining what you consider to be a consensus of the other managers feedback in a detailed and succinct memorandum.

The scenario is that our company markets a 15-inch LCD monitor that after several years of growth, profits are approaching the breakeven point. On the other hand, sales of a 17-inch LCD monitor,continue to grow, in part because it recently received an excellent rating from Consumer Reports magazine for monitors in its price range. In addition, recent in-store surveys indicate 70% of potential customers prefer the larger screen.
So we have decided to immediately discontinue production on the 15-inch monitor. With our remaining inventory, we propose that we bundle the monitor with an affordable CPU. There is a strong need to have a more condensed model for dormitories and small spaces. Then start to focus company resources on promoting the 17-inch model.

Explain the reasoning for the option that you selected as the consensus recommendation.

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The option that I will select as the consensus recommendation will be to clear all existing inventory of the 15 inch monitor via discounted pricing or bundling with affordable CPU. Secondly, instead of permanently discontinuing production of 15 inch monitor, the company should temporary shut down production of this product. The company should initiate an extensive market research study to identify causes for the slowdown in th demand for this product. A combination of primary and secondary research, along with competitive analysis will help in identifying reasons behind the slow sales for this product. Once the reasons are identified, the company should invest in research and development for development of an improved version of the 15 inch product and relaunch the product in ...

Solution Summary

Need help in preparing a 800 word report explaining what you consider to be a consensus of the other managers feedback in a detailed and succinct memorandum.

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