Market Research Essay

1496 words - 6 pages

Marketing Pitch
When launching a new product within a marketspace it is important to define not only the product, but also the target audience for that product. This market needs to be researched, understood, and then targeted to gain an understanding and feedback on how the product would be received by the consumers. In this paper, we will take a detailed look at a target market for the product that I intend to produce, and how it will appeal to the consumer market. In addition, we will look at the characteristics of the target market, and those specific things that will be important in defining the go to market strategy for my new product. Finally, I will also make recommendations on the ...view middle of the document...

This range of switches will bring innovations at the ASIC level, as well as the overall architecture of the devices themselves. In an effort to resolve the challenges in the Data Center market space, this series of switches will reduce power consumption by more than 35%, it will drive latency down by over 60% within the architecture, allowing customers to drive greater workloads while maintaining performance for the consumer’s applications. Through the use of a simplified architecture, studies show that I will be able to reduce cooling requirements, and also reduce mean time between failures.
Given the lack of competition in the market space for these above features, especially at the price point that I am aiming for, I expect my market research to support this launch will show that the market is not only ready, but anxiously waiting for the features that I am looking to offer, allowing for a strong return for the investment that needs to be made. When we consider the market, I will also need to look locally and globally, this product will resonate globally is the belief, the research should also bare this out.
Marketing Characteristics
As part of understanding the marketing characteristics that will be important to the development and launch of this product, it will be important to ask questions that will guide an understanding of how to approach the consumers. Each market vertical will have individual demands for this product within their environment. For e.g. Financial sector will focus in specifically on low latency, high performance to ensure trading occurs for their customers in the best way possible.
Demographic
The question for this criteria is who the demographic of the Data Center space is, and their tolerance for cutting edge technology. The age range spans the decades from 20-65+. The target demographic for the 9000 Series switch should be the graduate generation thru middle aged engineers.
Geographic
When looking for a target geography, it should be global. Each target region will have differing reasons to buy the 9000, and understanding what each of the specific regions will be interested in will be key to the marketing efforts that we put forward. When looking at the Asia/Pacific region, then the power and cooling savings will play a crucial role in the adoption of this technology. Allowing a consumer to reduce footprint, power, and therefore cooling requirements will be a great selling point within this region. Europe will also be interested in the reduction of power, but they are also going to be focused on price (cost per port) as well as the high level performance.
Psychographic
When asking a question about a consumer’s lifestyle, the determination needs to be made if it will impact a consumers purchasing decision. Given the age range that I am targeting, the psychographic for the 9000 series switch will in their own life be financially sound, and will be technically focused.
Behavioral Factors
Having such a large...

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