Sunday, September 29, 2019
New Product Launch Marketing Plan Essay
This paper will discuss the details market profiles, key buying behaviors, and decision motivators for the consumers and organization target markets. It will explain how to manage each stage of the PLC and tactical plans for the Four PÃ¢â¬â¢s at each stage. It will also provide the product mix for the new offering of features and benefits, branding, and any other products in line; it will show the differentiating characteristics from competitive or substitute products, packaging and labeling, and warranties and guarantees. In addition, this paper will discuss how the company will create a new positioning statement for the product, and provide justification for the new positioning strategy. Product Mix It is believed that many users will eventually start to look for alternate products created by Q-saver. For this reason after the first year of successful operation Q-saver will provide a mix of products for consumers. Q-saver will develop handheld scanners called Q-saver light to be attached to key-chains that will serve the same purpose of the smartphone app, but available for those who were not interested in using their smart phones. Another product to be offered is a digital website subscription called Q-saver virtual that will be available for consumers to see the breakdown process of discounts for products offered amongst retailer to retailer. The benefits of the two new product offerings are convenience, variety, and knowledge to support the mission to provide consumers with the greatest set of discounts by using Q-saver for their shopping needs. The Q-saver branding label will be adhered to the new products Q-saver light and Q-saver virtual. The addition of the new products w ill provide a convenient unique approach to saving. Differentiating the characteristics of the Q-saverÃ features the company will make surveys of recent buyers to analyze the consumer value set against the company cost for the different features. Q-saver will consider how many people want the feature, and how long it would take to introduce it and whether the competitor could certainly copy it. The company will also consider in terms of bundles or packages, as well as consider feature customization at a higher price or a many standard packages at a lower price (Kotler, & Keller (2012). Q-saver will differentiate products by customizing them. As Q-saver continue to increase it will gather information of each individual consumer and the business partner (retailers, suppliers, and distributors) the factories are designed for more flexibility. Q-saver will meet each customer requirement as individuality designed service, products, and communication (Kotler, & Keller, (2012). Q-saver packing the design for the consumer of the product. It will be attractive the consumer will want to displayed it at their home. Q-saver is a unique packaging and has a resealed spout that will bring big benefits to the consumer and profit Q-saver. Q-saver package will: Recognize the brand Q-saver Transport expressive and influential data Enable Q-saver shipping and security Storage Benefit Q-saver consumption Q-saver will choose color of packaging that carries meanings and the culture and market segments. Q-saver labeling will identify it brand and promote the product through it attractive graphics. Q-saver responsible for having a warranty statement for returned to the manufacturer or designed repair place for all repairs, replacement, or returns. Q-saver guarantees reducible risk. Q-saver has the highest quality and it service performance are dependable. The guarantee will assure the buyer of the quality and stability of Q-saver product (Kotler & Keller, (2012). Positioning For the diversified shopper, short on time, Q-saver provides the knowledge of savings and variety with the convenience of different stores and products. Q-saver is not affiliated with just one or two stores. The smartphone andÃ tablet app provides access to a wide variety of stores and products, providing access to current sales promotions, brand coupons, availability and so on. The objective is to position the app in the coupon app industry to best serve the market segments concerned with time management, savings and variety. Q-saver differentiates itself from competitors by providing access to a wide array of different storesÃ¢â¬â¢ information as well as sales promotions, providing guidance to what promotions can align with what manufacturer coupons to get the best savings, providing services such as scan and compare, the comparison of savings with consideration of other stores and so on. The application will constantly be evolving to better serve the well-informed shopper; requesting feedback and most importantly, acting on the feedback to provide the best product possible. In conclusion, the product will give details of target market profiles, behaviors and motivatorsÃ¢â¬â¢ for the organizational target market. It will explain the tactical plans of four PÃ¢â¬â¢s at each stage, and explain the features benefits and all differentiating characteristics for the competitive or substitute products, packaging and labeling, and warranties and guarantees. Also, create a positioning statement, which will provide justification for new positioning strategy. Reference Choosing a Product or Service to Sell. (2014). Retrieved from: http://www.entrepreneur.com/article/78778 Kotler, P., & Keller, K.L., (2012). Marketing management(14th.ed) Upper Saddle River. NJ: Pearson Prentice Hall What is competition in marketing?- definition, types & quiz (2003-2014). Retrieved June 22, 2014, from http://education-portal.com/academ/lesson/what-is-competition-in-marketing- defintion-types-quiz.html#lesson What is an offering in marketing. (2014). Retrieved from: http://smallbusiness.chron.com/offering-marketing-24088.html Reference Kotler, P., & Keller, K. (2011). Marketing management: analysis, planning, and control(14th ed.). Englewood Cliffs, N.J.: Prentice-Hall.