Hi! Thanks for your help!! I am really needing it! Below is what can help to do it. :-)

Here is what the discussion was from a few others to use for this assignment. Here is the question and what we had to answer..

Your company markets a 17-inch LCD monitor that allows the computer user to enjoy high-resolution video entertainment. The product was introduced five years ago. After several years of growth, sales have slowed and it was recently necessary to mark down the retail price to under $200 in order to remain competitive. Profits are approaching the breakeven point.

On the other hand, sales of the 22-inch LCD monitor, which was introduced three years ago and retails for $325, 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.

You and the other managers realize that several options are available. They include:

• 1. Combine the monitor with a low cost CPU and market them as a student workstation suitable for a dormitory room or computer lab.
• 2. Modify the product's features, styling or performance.
• 3. Cut the price to attract new buyers and competitor's customers.
• 4. Continue marketing the product at the same price in the hope that competitors will drop out of the market, allowing you to raise the price again.
• 5. Launch more aggressive advertising campaigns and sales promotions.
• 6. Discontinue the 17-inch model and focus company resources on promoting the 22-inch model.

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In the marketing business, it is important to always find the best way to get your products noticed and wanted by many customers. When sales start to fall, you must consider the best options and strategies on what to do. For instance, this company markets a 17 inch LCD monitor designed for high resolution video entertainment priced over $200, however; after five years sales have slowed to the point of having no choice but to set a new price under $200. Although this product may not be getting as many sales as it used too, this company does offer a 22 inch LCD monitor for $325 and sales are great. This is because more people prefer the larger screen. However, something needs to be done about the smaller screen.

After considering the six options, I chose option 2, which is to modify the products styling, features or performance. I think that the performance can remain the same but it could use a new look or packaging style in order to catch more people's attention. It is a low budget solution that may just be all it needs to get the sales going again. After five years of seeing the same thing, people may just get bored with the product, because people are always interested in what is new and improved. That being said, if the look is new and fresh, something unique and unforgettable, people will take a second look and consider the smaller monitor. All it needs is to stand out against its competitors.

So in order to do this, we offer the consumer a product review and guarantee right on the front of the package instead of the usual spot on the back. We can "build credibility by getting a professional review, and let the potential buyers know that people have bought this product before, enjoyed it and that we are willing to back it up with a solid promise" (How to Use Product Package Marketing with a Small Budget, 2009). This way, they can see what they want right away without even having to touch the product. On top of that, give the actual package itself a self function. For example we could package the monitor in some type of hard case that can be used for other things such as storage or safely transporting the monitor. Basically make the package useful enough that it can be used over and over again. Make sure that it is included on the front of the package as well so that the consumers will see that and feel like they would be conveniently getting something more than just a monitor. This will add value to the product and also make a better name for the company rather than a generic off-brand.

If one is a business owner, it is very important how one creates a unique packaging for the newest product. A sea of marketing campaign slogans, from TV commercials, advertisements been created by the best marketing people. Always make a product seem like it is the best product out there. Publicize it so your product stands out against the competition in the stores. Always package the product in a way that catches the eye of the consumer but economize. In the marketing world business, owners sell their product by packaging in an elaborate manner. Competitors spend billions on ads, are smart and use packaging methods using your imagination in creating a marketing tool. Always use bright colors to catch the eye and create a design on the box itself making it unique.

I really think I would go with option number five. Launch more aggressive advertising campaigns and sales promotions. I recommend this method there are people that look at the advertisement if they like what they hear will go to the nearest store and get informed on the product. If they like what they hear and see then it will be a guaranteed sale. Many consumers sometimes buy something they do not need just because it sounded nice either in the TV commercial or by what the sales person informed them. If there is an 800 number for customer service always, try to upgrade a customer if a purchase of the product if successfully been purchased.

A few ideas on how to look at where to start first emphasize services with support, networking on expertise, have excellent staff, always have training, and mailers pricelist, sales promos. Train your staff in new programs keep everybody in the loop on where to target the consumers. I being a consumer I look for a product that is well known has been around for a while. Of course, price the most important is reliability it will not break down in a year after the manufacturer warranty has expired. Make the box useful for restocking or storing the product and relying on it not security. Creating a box for the product using a trademark that everyone would recognize this would mean reliability and there would be no questions asked on how the product will work. It would speak for itself. If I went to a store for example Best Buy and was in the electronics and saw a box with bright red and green colors I would know what brand it was and say " I want that" and purchase the product I would look at the price but, you get what you pay for. That is my modo.

Therefore, I believe that strong aggressive advertisement is always the way to go.

When a company decides to keep something on the shelves longer than other companies at a competitor price that company would need a sale or promotion on that product. What is a promotion? It is a "Short-term incentives to encourage the purchase or sale of a product or service" (Dolak, 2008). These little short term incentives can really get customers attention, that's why I think it's the best choice for this company. (Choice number 5)

I know I look at the Sunday paper every week and get all the coupons I can to possibly save as much money as possible. For those customers that are on a fixed budget really need these sales promotions to get the latest technology. "Sales promotion is very important as it not only helps to boost sales but it also helps a business to draw new customers while at the same time retaining older ones" (Small Business, 2008). By drawing new customers this means even more new customers. With great customer service experience a person will more that likely tell family members and friends about your company.

There are many different types of sales promotions a company can give for this 17" LCD monitor. A lot of customers are very interested in rebates, some customers not too much but this is one option. I see a lot of rebates going on usually around Christmas, so this can boost Christmas sales. Price discounting is another option. Price discounts are the most popular type of sales promotions. Discounting the price can boost your company and the competitors won't have many sales during that time. Isn't that what you want?

Sales promotions like I stated before can boost your company. A company usually isn't a company without these sales promotions. "Often they are original and creative, and hence a comprehensive list of all available techniques is virtually impossible (since original sales promotions are launched daily!)" (Marketing Teacher, 2009). Make your own unique sale for the 17" LCD monitor, and I'm positive that you will increase your sales and increase the competition for other competitors.

In this paper we will discuss what needs to done with an older product line. What needs to be done with it and what will be the best way to phase it out? We will also have to decide how things need to be bundled for the best profit margin.

After looking at our 17 inch LCD monitor, it has become very obvious that it is not holding its side market anymore. The profit margin on this item has reached the breaking point and we have made some choices to phase out the 17 inch LCD and focus more on the sales of the 22 inch LCD. The 22 inch LCD has shown great strength and has very good staying power in the LCD market. So here is the current plan we have come up with for the monitors. (http://www.morebusiness.com/templates_worksheets/bplans/printpre.brc)

1. The first recommendation would be to pair the 17 inch LCD with a low cost small computer and target the high school and college students. This will allow for a better profit margin on the monitors and also increase computer sales. You can also add an upgrade option to the 22 inch monitor but at first try and push the 17 inch monitors, this way you can deplete your stock and be able to discontinue this model to make way for better selling 22 inch LCD.

2. To help get rid of the 17's you can step up advertising for a month and let people know that you are discontinuing this model and make sure that the sale price ends in .99. People see the .99 and feel they are getting a great deal. With this monitor being sold for under the 200 dollar mark you may want to run a Saturday morning special for a few hours and knock off and additional 10% for customers bringing in sales add from a news paper or that they heard it on the local radio station. These are always good marketing schemes and usually work rather well. You may also want to try and focus on a good time of the year for sales such as income tax season. (http://www.associatedcontent.com/article/946477/how_to_use_product_package_marketing.html?cat=3)

3. Once you are reaching the point of having a very low number of 17's in stock you can really start to push the 22 inch monitor. It would be a good idea to keep a couple of the 17's in case someone has a problem with one they have purchased and need to exchange. Focusing on the 22 inch LCD will now be your new task. You will need to do a cost analysis on the price difference of the 17 and 22 and see what your new bundle package price will be for the student line computer.

YES Please need your help!!! I havent heard from Michelle since I posted this so not sure what is going on and if she is busy right now. I always sent to her because she would do them and she said I could ask for her and I like working with the same couple people. I hope all is ok with Michelle but since i havent heard from her could you PLEASE help on this one"??? I will request you if ok???

Thanks!!