Got a tricky question? Receive an answer from students like you! Try us!

New Product on the Market - Research Paper Example

Only on StudentShare
Undergraduate
Research Paper
Marketing
Pages 4 (1004 words)

Summary

Name: Institution: Course: Instructor: Date: New Product in the Market In coming up with a new product in a market, a business needs to put into consideration the different issues that make its customers to accept the product when it presents them in a market…

Extract of sample
New Product on the Market

To come up with a new product, a company may consider optimizing the things their customers need and the various other resources they have, which can facilitate production without making losses. To succeed in the different areas of the business, the companies a company need to carry out a proper market research that will lead them to understand the customers to whom they intend to supply the new product. This process of production and presenting new products to a market needs to be planned so that each step can help raise the number of customers who show interest in them and buy them at any time in their lifetime (Wesley and Barczak 23). In producing a new product in the market, a company needs to implement a strategic plan that will put into consideration all the needs of the customers and weigh them against the potential of the company and the goals they have to develop a product that is preferred by customers. Through strategic planning, a company produces the products that fall within the goals it has for the market and which attracts potential buyers, to whom it intend to sell its products. Strategic planning in a company aligns itself with its mission statement, which implies all things that company targets to achieve in their delivery of the services to customers. ...
Download paper
Not exactly what you need?

Related Essays

Pricing - New Product Development
Analysis of design and technical features of the product are essential part of product development and would be required in price evaluation period. The challenge is to engage with the competitors and meet the market in effective and deliberate way. In the longer run, the aim is to build a relationship with British Petroleum in order to meet the primary objective of market capturing. This will introduce the eco bins in UK market in a good aspect of time and make it available for the new users. In pricing objective, the company should go with market penetration tactics, which would be achieved…
14 pages (3514 words)
Marketing a New Product
These services rendered by the company are generally related to the mobility parameters and thus encourages the consumers to purchase the automobiles for a safer and hassle free journey. Though the company encompasses a large number of automobile brands yet the company endeavours to render an individual identity to each of the different brands falling under the banner. The individual brands and companies working under the common banner of the Volkswagen group perform in a collaborative fashion to enhance revenue and market potential of the company in the international market (Volkswagen,…
New Product to the Market (Timed Drink Dispenser)
It is also cheap and hence affordable to most people all over the nation. Market segmentation involves marketing strategies that are used for classifying a broad market into subsets of consumers with similar needs for the product (Kotler 68). The specific characteristics of the product are divided into different categories of age, location and family size. The marketing strategies are designed to target specific customers. Segmenting helps in measurability, which is determining whether a particular segment is fit enough to be pursued. Accessibility is also a criteria in segmenting which…
4 pages (1004 words)
choose a multinational company,and Selecting one new market and one product, detail and justify a marketing plan for the launch
. 3.1 Cultural trends. 4.0 Cultural implications for Sony. 4.1 Pricing structure. 4.2 Marketing strategy. 4.3 Budget. 5.0 Summary. References 1.0 Introduction The Sony Corporation is a multi-national conglomerate providing a variety of electronic products for international consumer markets, including a portfolio that includes televisions, gaming systems, cameras and smartphones. Many of Sony’s historical product successes, such as the Sony Walkman (a highly profitable product defining the brand as a pioneering first-to-market innovator), have reached their decline stages. Other recent…
8 pages (2008 words)
Launching a new product
The company currently operates in Singapore, but it is planning to extend its operations in the UK. The UK offers a vital market for the company bracelet due to the high rate of economic growth and high consumer disposable incomes of the population. More than 40 million people in the UK would be willing to buy the product and contribute towards charitable work due to the caring attitudes of the population and feminine culture that is replicated in the bracelet design. The number of wealthy and aged individuals is more than 10 percent of the total UK population (Oxford Business Group 222). The…
4 pages (1004 words)
Launching new financial product in emerging market:
Buoyed by strong economic performance and political unity, the emerging markets like Thailand, India, China, and South have become the hot spot for foreign investment (Allan and Michael, 2010). The banking systems of these countries follow the Basel II accord and this has brought standardization and improved risk minimization and risk diversification. Banks and financial institutions from the emerging markets are setting up their operations in the overseas countries. Statistics indicate that since the past 10 years, the rate at which foreign banks from developed countries set up overseas…
15 pages (3765 words)
To develop a "marketing Plan" for expanding a product or service into a new market (Wal-Mart)
The people belongs to different countries have different cultural values therefore it is very difficult to analyze various cultures in a single region. Still UAE has got its own cultural values but it is limited to the 20% of the total population. The marketers need to update their strategies by analyzing the changing trends in the consumer behavior. It is difficult to analyze the culture of several nations in a single market and made decision according to the need of each and every segment. Thus the focus of the marketers is completely on the buying behavior of consumers and customer…
14 pages (3514 words)