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 P’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.
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 will provide a convenient unique approach to saving.
Differentiating the characteristics of the Q-saver 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
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).
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 and 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 stores’ 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 motivators’ for the organizational target market. It will explain the tactical plans of four P’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.
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:
Kotler, P., & Keller, K. (2011). Marketing management: analysis, planning,
and control(14th ed.). Englewood Cliffs, N.J.: Prentice-Hall.
Marketing Plan To Launch New Product
REPORT ON MARKETING PLAN TO LAUNCH A NEW PRODUCT
52796 - Syed Ali Murtaza Zaidi
Syed Tariq Hussain
Principles Of Marketing
Report is the practical part of the theoretical subject marketing of our MBA Program. The sole objective is to familiarize the students with the practical manipulation of business organization. This report has been written to know about the causes that lead to the launching new Product. In the first phase of the report there is the general introduction about the New Product Development. In the next part; we took into account the objectives that are behind this. We illustrate the objective one by one according to their priority. To understand and specify the objectives is necessary to understand the variable, which affect this issue. We define only the key variable. After this we collect the data from different sources and analyze it, interpret it, and show the diagrammatical representation for easy understanding. More over this we make some conclusion and offer our suggestions for improvements with some limitations that we face. In the next phase the feasibility report of Sunshine Detergent with the SWOT analysis, target market, market segmentation and the detail of 7ps of marketing mix etc.
We are very thankful to Almighty Allah who has all the powers in the world and who also give us power to perform the assigned task, which otherwise we can't perform. We are great full to
Hazrat Muhammad (S.A.W.W) who remains an example in every aspect of life. We are very thankful to our honorable teacher Mr. Tariq Hussain for providing us with such an opportunity to explore the practical aspects of the Marketing that refined our theoretical concepts and would help us in the practical field. We are also thankful to all of our respondents especially. We are especially thankful to our class fellows who help us from every aspect.
Table of Contents
Major Stages in New-Product Development
Idea generation ……………………………………………….…
Idea screening ………………………………………………
Concept Development and
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