New Product Launch Marketing Plan
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New Product Launch Marketing Plan, Part I
Sheila Torres
MKT/571
May 8, 2015
Professor Andres Goyanes
New Product Launch Marketing Plan, Part I
This week assignment is to create a marketing plan to introduce a new product for both international and domestic marketplace. Marketing plans is defined as, the central instrument for directing and coordinating the marketing efforts (Kotler & Keller, 2012). This plan will introduce a new sneaker brand to China, Europe, and parts of the United States. The plan consist of the following components: market need, market growth, SWOT analysis, potential competition, product offering and product definition, product identification, justification for choosing this product, and a 10 question survey.
Market Needs
The market need for a new redesigned sneaker is very high in China and Europe, and in select markets of the United States. Consumers are interested in new ergonomically designed sneakers that support workouts instead of the average multipurpose workout sneaker. After researching, demographic factors reveal that young people will be the highest level of consumers of the new product. Young adults are being more health consciousness and this is forcing many manufacturers, including the standard sneaker manufacturers to offer more enhanced and functional products to consumers. Purchasing sneakers to be use in gyms are increasing in Europe and China because of consumer awareness relating to the benefits of working out. Additionally, the product choices that consumers make in the United States are highly influenced by weight management programs and gym workouts. Many consumers are seeking better value and a more ergonomic product because of the redesign of the standard sneaker (Jean Francois, 2010).
Market Growth
The potential growth for a new ergonomically designed sneaker, targeting the workout market in Europe and China has a large potential growth of upper income consumers who need support for increased...
Sheila Torres
MKT/571
May 8, 2015
Professor Andres Goyanes
New Product Launch Marketing Plan, Part I
This week assignment is to create a marketing plan to introduce a new product for both international and domestic marketplace. Marketing plans is defined as, the central instrument for directing and coordinating the marketing efforts (Kotler & Keller, 2012). This plan will introduce a new sneaker brand to China, Europe, and parts of the United States. The plan consist of the following components: market need, market growth, SWOT analysis, potential competition, product offering and product definition, product identification, justification for choosing this product, and a 10 question survey.
Market Needs
The market need for a new redesigned sneaker is very high in China and Europe, and in select markets of the United States. Consumers are interested in new ergonomically designed sneakers that support workouts instead of the average multipurpose workout sneaker. After researching, demographic factors reveal that young people will be the highest level of consumers of the new product. Young adults are being more health consciousness and this is forcing many manufacturers, including the standard sneaker manufacturers to offer more enhanced and functional products to consumers. Purchasing sneakers to be use in gyms are increasing in Europe and China because of consumer awareness relating to the benefits of working out. Additionally, the product choices that consumers make in the United States are highly influenced by weight management programs and gym workouts. Many consumers are seeking better value and a more ergonomic product because of the redesign of the standard sneaker (Jean Francois, 2010).
Market Growth
The potential growth for a new ergonomically designed sneaker, targeting the workout market in Europe and China has a large potential growth of upper income consumers who need support for increased...