Marketing Plan For an Innovative New Product

Target Market The identification of a target market is important before the launch of a new product. When launching the â€Å"cyclone† brand, the target market constitutes a group of people who will be interested in buying the product (Hiam 2). Identifying the target market for the â€Å"cyclone† brand is not an easy thing, especially because the product contains many features which appeal to different market segments.Advertising We will write a custom essay sample on Marketing Plan For an Innovative New Product specifically for you for only $16.05 $11/page Learn More However, in identifying the right target market for the â€Å"cyclone† product, several factors ought to be considered. First, it would be crucial to identify the demographical characteristics of the target population. The demographical characteristics would include information such as the population’s age bracket, income levels, educational background, gender an d such like factors. Secondly, it will be crucial to identify the geographical location of the intended customer group. The geographical location of a market would determine the demand for a given product. For instance, it would be useless selling jackets in a geographical location with a desert-like climate. In the same manner, certain geographical locations are known to demand certain goods and services more than others. For instance, the Puma shoe company has been known to perform well in Latin American and European countries when compared to the rest of the world (Hiam 19). Lastly, in identifying the right target market for â€Å"cyclone†, the psychographic characteristics of the population have to be considered. These psychographic elements will include the personality and behavioral traits of the target population group. The collective interests of the population group will also be included in this analysis. Comprehensively, these elements will have to be analyzed to es tablish how they complement the sale of â€Å"cyclone† products. Product Positioning Positioning a brand in the market is a critical component for market success. Its importance cannot be underestimated because brand positioning is more than the product’s sales. In fact, product positioning is a promise to the customers to explain how the product fulfills their needs (through the elements it guarantees them) (Hiam 23). To establish an effective brand position strategy for Cyclone, it would be crucial to determine the core values of the brand. For instance, it will be crucial to establish if the brand thrives because of excellent quality or good pricing. Once these values are determined, pursuing the same values in the market will amount to a good brand positioning strategy.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More IMC Campaign In coming up with the best IMC plan for â⠂¬Å"cyclone†, several factors need to be considered. First, a thorough promotion opportunity analysis should be done to establish the competitive analysis, opportunity analysis, target market analysis and customer analysis of the brand. From this point, corporate strategies should be formulated. The corporate strategies include corporate image strategies, brand development strategies, brand positioning strategies, distribution strategies, business-to-business strategies, public relations strategies, and evaluation strategies. The last process of developing an IMC campaign will be to identify an integrated market communications strategy plan. This plan includes coming up with a set of objectives for the IMC plan and a budget to achieve the intended objectives of the IMC plan. The first objective will be centered on consumer needs and requirements while the second objective will be centered on determining the product’s distribution channel. The last objective of the plan will be centered on determining the right business-to-business strategy (Hiam 53). Price Determination Determining the right price for the â€Å"cyclone† product depends on several strategies. For instance, the distribution channel of the product is bound to determine the overall price of the product because longer distribution channels are bound to command high prices and short distribution channels amount to low prices. However, the â€Å"cyclone† brand will be produced with a high-end market in mind. To keep the prices affordable for a wider consumer group, a shorter distribution channel will be chosen. Also, the price of the â€Å"cyclone† product will be determined by the cost of production and the price of substitute and complementary products in the market. Obviously, the price of the product cannot be sold less than the opportunity cost and therefore, the product will be priced higher than the product cost. This cost will be compounded with the productâ €™s distribution cost, to come up with a reasonable mark-up price for the product. The price of substitute and complementary products will also determine the price of the â€Å"cyclone† product. If the price of substitute products will be low, the price of cyclone will also have to be comparatively low. The same is also true if the price of the substitute product is high because if the price of the substitute product is high, it will be easy to sell the product at a reasonably high price since there will be minimal price competition (Hiam 23).Advertising We will write a custom essay sample on Marketing Plan For an Innovative New Product specifically for you for only $16.05 $11/page Learn More CRM System Designing an effective CRM system will have to be done with the customers in mind. This strategy is crucial because customer feedback will be important in developing future product improvement strategies. The provision of customer service thro ugh the CRM system will also be done with a keen emphasis on the medium for service offing. Customer development will be achieved if the CRM is designed to have a feedback mechanism where customers can communicate with the company and inform them of any areas where customer development can be improved. The internet can be an effective tool in ensuring the goals of the above strategies are realized (Hiam 2). Works Cited Hiam, Alexander. Marketing for Dummies. New York: For Dummies, 2009. Print. This essay on Marketing Plan For an Innovative New Product was written and submitted by user Anya Kirby to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Waters Unique Characteristics Essays

Waters Unique Characteristics Essays Waters Unique Characteristics Essay Waters Unique Characteristics Essay Essay Topic: Unique Water, with its unusual bonding to hydrogen, is an invaluable resource to the Earth, wildlife, and the environment. Due to waters hydrogen bonding, it has developed many unique characteristics that many other liquids do not possess. Some of these characteristics are the following: adhesion, cohesion, and surface tension. These three characteristics alone allow for the attachment of water to its self and to other molecules for the movement of water it self.Cohesion is the ability of water to attach to itself to move opposite the force of gravity. While adhesion is the ability of water to attach to something other than water molecules, this allows for water to move with out having to have a force behind it. Surface tension is the measure of how difficult it is to break the surface of a liquid. Water has an exceptionally high surface tension due to the fact that water molecules are intermixed with air and bonded to other water molecules beneath it; thus, causing an almost invisible shield.Other qualities that water possesses are high specific heat, evaporative cooling, and a high boiling point. A high specific heat means that it takes a longer time for one gram of water to heat up by one degree Celsius. Due to this, water will change its temperature less when it absorbs or loses heat. Evaporative cooling happens because hot molecules leave, or escape into a liquid or gaseous state, before cool ones and thus prevents overheating. Also, another important attribute of waters is its density while in solid and liquid forms. Compared to other liquids, water is less dense in its solid state than in its liquid state.This happens because when the hydrogen bonds are being frozen they bond with four other molecules at an arms length rather than closer to the hydrogen. This allows for the ice, or solid form of water, to be 10% less dense than the liquid stage. However, one of the most important benefactors of water is its universality. It can be used t o dissolve just about any substance. For this reason, solutions have been donned either hydrophobic, water fearing, or hydrophilic, water loving. In these two instances, the solution either can dissolve in water, hydrophilic, or is insoluble in water, hydrophobic.These unique characteristics allow water to be one liquid with its own abilities; however, it is what these abilities allow in nature and in the environment that make water so unique. The purpose of adhesion and cohesion basically has to deal with the watering and nurturing of plant systems. Cohesion is used to pull the water up the stems of plants to the top to nurture; on the other hand, adhesion is used to help keep the water in place even though it is being pulled down by gravity. Another example of how adhesion is used is in the vessels of human blood systems; adhesion is used to pull the blood up versus the strength of gravity.Surface tension is used to allow bugs or other animals to walk across the top of water to al low for escape or for the capture of food. Waters high specific heat allows for it to absorb a large amount of heat without changing its temperature much. This allows for in the summer months, the beaches to be cooled off and in the winter months to be heated up. This also, stabilizes ocean temperature, creating a more stable life for marine life, and it allows for temperature fluctuations on land but keeps the water within limits that permit life.Evaporative cooling of water contributes to the stability of the temperature of the lakes and ponds and also prevents animals, and other mechanisms, from over heating. Evaporative cooling also helps with plant life; it keeps the tissues in the leaves from becoming too warm in the sunlight. Moreover, waters density is a better attribute to the environment. As a solid, waters density is less than when it is a liquid this allows for only the tops of lakes, etc to become frozen rather than the bottoms. If a lake were to freeze from the bottom up, then virtually the whole Earths water system would freeze up in only a matter of time.However, because this does not happen, the frozen layer on top insulates the bottom portion of water and allows for marine life to live during the winter months rather than die. Waters universality, however, is its biggest asset. This characteristic allows water to be an easily accessible lab partner all around the world. Without water as a universal solvent, scientists would have to create a solvent that could potentially cost too much money and only allow for limited experiments. However, because water is cheap, and readily available, scientists have no problem with conducting the experiments they feel are necessary.

Background on the Controversy Surrounding Freedom of Choice versus Essay

Background on the Controversy Surrounding Freedom of Choice versus Smoking Ban - Essay Example VII. Smoking publicly is another major issue because smokers are not only hurting themselves as they smoke in public places but also damaging the health of other surrounding non-smokers. A. Statistics on Passive Smoker Deaths B. Chronic health problems traced to passive smoking. VIII. Smoking is uncontrollable and is spreading at an extremely fast rate, due to both peer pressure and advertising. A. Teen smoking statistics B. Causes and consequences of underage smoking. IX. Advertisement is another factor which has greatly contributed to the fast growing rate of smoking among teens. A. Economics of tobacco advertisement B. Proliferation of tobacco ads. C. Consequence of tobacco advertisements X. The harms of smoking are such that it is imperative to pass a ban on public smoking as a means of discouraging the habit and limiting its harms, irrespective of arguments claiming that doing so would be a violation of inalienable human freedoms. In social, political and legal environments which uphold freedom of choice and personal liberty, the decision of some governments and local authorities to ban smoking in public places has been a subject of controversy and debate. In reaction to Scotland's decision to ban smoking in public places, Gillian Bowditch expressed concern over the way that governments are increasingly using the health concern and public welfare argument as an "excuse to invade personal freedom, reduce freedom of choice and create an artificially homogenous society." This is not an isolated reaction as in response to the Minnesotan federal government's proposal to ban smoking in public areas, Craig Westover argues that this is contrary to the US Constitution and against the very principles that the United States was...In reaction to Scotland's decision to ban smoking in public places, Gillian Bowditch expressed concern over the way that governments are increasingly using the health concern and public welfare argument as an "excuse to invade personal freedom, reduce freedom of choice and create an artificially homogenous society." This is not an isolated reaction as in response to the Minnesotan federal government's proposal to ban smoking in public areas, Craig Westover argues that this is contrary to the US Constitution and against the very principles that the United States was founded upon. The US Constitution and the country's founding principles emphasise the inalienable right to individual liberty and freedom of choice, with the implication being that the government, whether local, national or federal, does not possess the right to prohibit smoking in publicly owned properties (Westover). It is therefore apparent that the ban on smoking has been interpreted by some as a dangerous transgression against individual liberty and freedom of choice.