New Product Launch Marketing Plan
Joanka Lewis
MKT/571
July 1, 2014
Larry Moore
New Product Launch Marketing Plan
Organic Baby Products are a new product that would allow your baby to be health and safe at the same time. The products are made with only natural ingredients which allow the consumer to feel comfortable about using and purchasing the products. The market segmentation will show how this product is marketed to a targeted buyer
PLC Strategy Plan
PLC (Product Life Cycle) is defined as the life span of a particular product. It entails of four stages which are labeled as introduction, growth, maturity and decline. The introduction ...view middle of the document...
As for the growth stage, promotional activities will tend to focus on expanding the market for the product into new segments particularly new geographic and demographic locations. This will broaden the market family and increase the number of new consumers. In the maturity stage Team C will strive to reap the benefits and rewards from the product’s cycle thus far. Finally in the decline stage, the marketing support could be lessen leaving the sales mostly based off of the products reputation.
Target Market Profile
The target market profile for the Organic Baby Product line are mothers to be and parents of children from the age of birth to 2 years of age. This would include mostly women from the ages of 25 to 45. This is because as you’re mature, things such as the health of your love one becomes more important. So you began to look at healthier substations for many day to day items. Many of these women would be married however the market would allow single women to be apart of the group. Many of these women would live in an urban area where nutrition and being healthy is of grate importance. The annual income for the target market would be in the range of $35,000-$55,000. Although our product will be reasonable, it will be comparable to products in the same industry.
The four major factors and decision motivators that influence buyer behavior are cultural, social, personal, and psychological. The first of these factors are the cultural factors, which include values and decisions that we inherit from the people around us. These would include the customer’s culture as well as their social class. The next factor is the social factor. These are people in our family and same social status as us. This factor would explain how outside influences help us to determine what...
