New Product Launch Marketing Plan

2628 Words Sep 13th, 2014 11 Pages
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
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The automobile may cost $100,000, and if some customers perceive the particular price to be reasonable price for the automobile, they will purchase it based on their perception and not because of the fact that marketers set the price of the automobile as $100,000. Same customer may feel that $30,000 for different automobile is too expensive even though he or she felt that $100,000 for the automobile was reasonable for them because they perceive each products differently. Kotler and Keller (2012) also mentioned that customer are less sensitive to price of the product when they believe that 1) there are not too many similar products in the market that can replace the quality of the given product; 2) the high price of the product can be justified; 3) stated price of the product is just a small cost of obtaining unique product for the life time.
Learning team A intends to set the price of the voice commanded treadmill to create the perception that the price of voice commanded treadmill is reasonable enough for a customer to purchase the customized treadmill that can enhance their health status for the rest of their lives. Rather than matching the price of the treadmill to another company’s lower price of the treadmill, Learning team A believes it will be beneficial for the company if the company can justify that customers are paying for superior quality of the voice commanded treadmill, and they are saving money for more value on the voice commanded
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