.What type of product is Philip Morris’ HeatStick?
.What type of product is Philip Morris’ HeatStick?
Philip Morris is the nation’s largest tobacco company and sellsleading cigarette brands such as Marlboro and Virginia Slims. Whilethe health risks of smoking are well known, selling cigarettes hastraditionally been considered a safe and profitable business to bein. However, more and more restrictions are being placed on smokingand people are becoming more health conscience. Furthermore, manysmaller companies have begun selling e-cigarettes. E-cigarettesallow users to inhale nicotine without the health risks associatedwith inhaling smoke into the lungs.Philip Morris has been researching and test marketing “safer”cigarettes for decades, and very recently decided to go ahead witha new e-cigarette under the brand name Marlboro HeatSticks. Unlikecompeting e-cigarette brands, the HeatStick will use some tobaccoto give their vapor a taste closer to a real cigarette.Review the background materials on product management with aclose attention to the Pearson tutorial on products and services,Richardson and Gosnay (2011) and Paley (2007). Then do someresearch on Philip Morris and the e-cigarette market. Here are somearticles to get you started:Felberbaum, M., & Tobacco, A. (2014, Jun 26). Philip MorrisInt’l to sell Marlboro HeatSticks. El Paso Times [Proquest] Felberbaum, M. (2013, Nov 21). Philip Morris eyes electroniccigarette market. Daily Gleaner[Proquest] When you have finished reviewing the background materials anddoing some research on Philip Morris and e-cigarettes, write afour- to five-page paper that addresses the followingquestions:1.What type of product is Philip Morris’ HeatStick? Use theterminology from the background materials to classify this product,and pay close attention to the “Classification of products” and the“Different types of new products” sections of Chapter 5 ofRichardson and Gosnay (2010)2.At what stage of the product life cycle are the traditionalcigarette and the e-cigarette respectively, and what implicationsshould this have for Philip Morris’ marketing strategy? Refer tothe stages of the product life cycle as explained in Richardson andGosnay (2010) and Paley (2007).3.Which stages of the new product development process do youthink will be most crucial to the success of the HeatStick? Explainyour reasoning, and refer to either the eight stages of the newproduct development process in Richardson and Gosnay (2010) or thesix phases discussed on pages 158-161 of Paley (2007).
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