Product Launch Marketing Plan 2
Complete a market segmentation of no more than 1,400 words for your buyers. Be sure to include the following:
1.) Detail the target market profiles, key buying behaviors, and decision motivators for your consumer and organizational target markets.
2) How you will manage each stage of the PLC and include tactical plans for the Four Ps at each stage
3) Expanding on your product offering from Week 2, provide the product mix for your team's new offering including features and benefits, branding, any other products in its line, its differentiating characteristics from competitive or substitute products, packaging and labeling, and warranties and guarantees.
4) Create a new positioning statement for your product, and provide justification for your new positioning strategy.
Use the Sample Marketing Plan in Ch. 2 of Marketing Management as a guide in developing the components of your plan.
You are only answering the first question. Please do not exceed 350 words.
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Product Launch Marketing Plan 2
Product Mix: product mix is essentially understood as the variety of products that a given business organization sells (Chapin, 2014). The Wrist Bit product is multipurpose considering that it has several functions that no other product in the marketplace offers. When worn on the wrist, it can be used to save documents, to listen to music, charge the phone of the user, and it can even send documents. In addition, the user can use Wrist Bit to monitor his or her health by checking his/her heart rate, for instance during workout. This new product can be utilized manually or through voice control. What really differentiates this product from substitute or competitive products is that it can be used in saving and sending documents. The product would have nice, pleasing packaging and will have a 1-year warranty.
Other products in its line inc...
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