New Product Launch Marketing Plan
New Product Launch Marketing Plan III
Jennifer Flores, David Granda, Lori Mann, Alexandra Olivares, Keun Seo
MKT 571
September 15, 2014
John Schaefer
New Product Launch Marketing Plan III
Executive Summary Learning Team A has shown in the first two phases of the marketing plan that individuals exercise for a variety of reasons including obesity, addressed target markets (recreational, fitness, and professional athletes), decision motivators and buying behaviors (individual needs and health concerns), the Product Life Cycle, the four P 's, and the product mix. Within this final phase, Learning Team A will be discussing situational analysis, market growth potential and competitive analysis, segmentation, target market, and positioning, pricing and distribution, and marketing communication. Also discussed will be the financial aspect, intended market objectives for year 1, year 2 and year 3, implementation milestones, and finally, evaluation and control metrics and methodology to measure performance.
Situational Analysis My Run Buddy offers a new innovation in fitness technology as the first voice commanded treadmill. Its product marketing on extraordinary combination of powerful design and features are the key factors for its product brand development and market growth in the fitness industry. Enhancing and implementing strategic marketing plan will also be essential to the success of My Run Buddy.
Market Growth Potential and Competitive Analysis There are so many treadmills out on the market today, individuals try to find just the right one that will give them just the right workout for their lifestyle. With the innovative features that are installed on My Run Buddy, such as the Voice Command option, Learning Team A believes that this will escalate My Run Buddy to the top of everyone 's list of treadmills. Learning Team A estimates that with these innovative features, sales will be high and profits will be generated.
Jennifer Flores, David Granda, Lori Mann, Alexandra Olivares, Keun Seo
MKT 571
September 15, 2014
John Schaefer
New Product Launch Marketing Plan III
Executive Summary Learning Team A has shown in the first two phases of the marketing plan that individuals exercise for a variety of reasons including obesity, addressed target markets (recreational, fitness, and professional athletes), decision motivators and buying behaviors (individual needs and health concerns), the Product Life Cycle, the four P 's, and the product mix. Within this final phase, Learning Team A will be discussing situational analysis, market growth potential and competitive analysis, segmentation, target market, and positioning, pricing and distribution, and marketing communication. Also discussed will be the financial aspect, intended market objectives for year 1, year 2 and year 3, implementation milestones, and finally, evaluation and control metrics and methodology to measure performance.
Situational Analysis My Run Buddy offers a new innovation in fitness technology as the first voice commanded treadmill. Its product marketing on extraordinary combination of powerful design and features are the key factors for its product brand development and market growth in the fitness industry. Enhancing and implementing strategic marketing plan will also be essential to the success of My Run Buddy.
Market Growth Potential and Competitive Analysis There are so many treadmills out on the market today, individuals try to find just the right one that will give them just the right workout for their lifestyle. With the innovative features that are installed on My Run Buddy, such as the Voice Command option, Learning Team A believes that this will escalate My Run Buddy to the top of everyone 's list of treadmills. Learning Team A estimates that with these innovative features, sales will be high and profits will be generated.
References: Elrod, C., Susan Murray, P. E., & Bande, S. (2013). A Review of Performance Metrics for Supply Chain Management. Engineering Management Journal, 25(3), 39-50. Kotler, P., & Keller, K. L. (2012). Marketing management (14th ed.). Upper Saddle River, NJ: Pearson Prentice Hall. Wellsource. (2014). Market trends project more growth for wellness industry. Retrieved from http://www.wellsource.com/company-news/Market-Trends-Project-More-Growth-for-Wellness-Industry.html Mindtools. (2014). Contingency Planning. Retrieved from http://www.mindtools.com/pages/article/newLDR_51.htm