Problem 1: Explain what decisions Brand Managers who work on your suncor energy and oil brand will make in the development of a new product. Explain why these are important decisions to be made and how they could impact the success of the product.
Problem 2: Using the brand assigned to you suncor energy and oil describe the stage of the product life cycle you believe they are in and explain why you think this. Explain why managing the product lifecycles is important in industries like apparel and electronics.
Problem 3: Explain why the state of the economy is such an important consideration to your brand suncor energy and oil. Why would your brand/your brands company suncor energy and oil consistently consider both microeconomic and macroeconomic factors when assessing the various aspects of our marketing strategies and plans? Provide specific economic factors that would influence various marketing decisions of your brand including branding, packaging, pricing and advertising. Explain why this is important information for marketers to understand.
Problem 4: Identify the three major pricing strategies and discuss the important key factors that impact setting prices. Explain what time of pricing strategy your assigned brand uses and why you believe this is an effective or ineffective strategy.
Problem 5: Using your assigned Brand suncor energy and oil explain how your Brand/Company effectively uses all 5 key aspects of Integrated Marketing Communications. Explain what each aspect is and an example of how your brand has used each aspect of the mix. In your opinion, do you feel your brand has effectively evolved their marketing communications plan overtime as societal, political and technological trends and behaviors have evolved?