Marketing Essay Example | Topics and Well Written Essays - 2250 words - 10

Marketing - Essay Example The product lines that are considered are â€Å"Voice Recognition Device.† (Voice recognition device, 2005). Through the use of voice recognition, it is possible to direct and control computer applications without having to use one’s hands to do the job. This is widely used by managers, artists, students, parents, home and office usage etc. â€Å"The firm we now work for is currently developing a new type of voice recognition device (VRD) with advanced capabilities for controlling computer applications using spoken commands. It was our job to move the product to the top of the market and earn profit for our firm by understanding the market, competitors and other trends in the external environment.† (The marketing game, 2009). The two constraining factors in this Marketing game are the Sales Budget that offers the scope for funding various activities that are needed for a game of this kind. Secondly, the marketplace needs to take the competitive moves taken by three competing firms in their bid to create value and revenue chains for their respective businesses. There are also aspects in terms of whether advertising expenditures are paying off and also whether this is influencing the final outcome of business. Another aspect that needs to be considered is, paying close attention to what the competitors are up to. â€Å"In a dynamic market it is rare that a manager can succeed without paying close attention to competitors and what they are doing, and without thinking through what they are likely to do.   Success in The Marketing Game! Is much more likely for those managers who take some time to think carefully about the competitive effects in the market.† (Otjen n.d.). There are only four makers of this VRD in the market. One is the product line which we are responsible for developing; that is, PAMAY and the competitors are Synnergy, Speak, you’re your voice. Synnergy is now in the number one position with 41% market share, You’re has 14% share