Marketing Plan First Term Paper

Pages: 3 (854 words)  ·  Bibliography Sources: 0  ·  File: .docx  ·  Level: College Senior  ·  Topic: Business - Advertising

Marketing Plan

First of all, it is appropriate to enumerate some of the behavioral variables that define market segmentation for the product we are launching. As the digital camera is addressing consumers aged between 24 and 50, we are, first of all, addressing the active and involved. The consumers we are targeting are persons who enjoy having souvenirs of places they have visited, people they have met, their friends, their family and any other elements in their lives. They are likely to be travelers and to enjoy a vacation at least once a year. They are also likely to have a group of friends and have a higher than average active social life.

The behavioral elements presented previously can be combined with some of the other factors that determine the targeted market. The age variable is quite important (24 to 50 in our case), but we shouldn't be ignoring the income variable. Even if digital cameras are more or less available for all nowadays, with the additional features that might be included in the basic model, we are likely to be addressing middle income individuals.

If we look at this brief description of the category of consumers we will be addressing, it is clear that the demographic and psychographic/behavioral consumer factors are essential in determining the exact group of people the product will be targeting. These are active people, with an active social life, aged 24 to 50 and with $50,000 to $75,000 a year.

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Referring a little to the external environment and the main factors that are likely to affect the launched product, in terms of threats, the most important, in my opinion, is the threat of competition, especially from countries in Asia such as Taiwan, Singapore, Malaysia or China. Companies from these countries produce at much lower costs, mainly due to cheaper workforce. This allows than to remain competitive at the same profit margins and come with a lower product price on the Western markets.

TOPIC: Term Paper on Marketing Plan First of All, it Is Assignment

There is, however, one thing that can be speculated and that represents the competitive advantage that a Western firm launching a digital camera has: quality. In all markets and particularly in the hi-tech market we are involved in, there is a general impression that many companies have somewhat renounced the quality principle in order to obtain lower costs. Products made in the countries of South-East Asia may be cheaper, but the consumers will know they are cheaper because the quality differs.

In this sense, the marketing campaign should emphasize quality. Again, it is important to note, this time as a… [END OF PREVIEW] . . . READ MORE

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Marketing Plan First.  (2005, February 17).  Retrieved September 27, 2021, from https://www.essaytown.com/subjects/paper/marketing-plan-first/673066

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"Marketing Plan First."  Essaytown.com.  February 17, 2005.  Accessed September 27, 2021.
https://www.essaytown.com/subjects/paper/marketing-plan-first/673066.