Your company has decided to launch a new line of products, marketing homework help

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Your company has decided to launch a new line of products.

Create a 1,400-word report and include the following information:

  • Choose the target market for your product, and describe your target market in detail.
  • Create a new product that would appeal to your market.
  • Develop at least one question for each characteristic of the target market (demographic, geographic, psychographic, and behavioral) that will be important for you as you determine the marketing strategy for this new product.
  • Recommend the best methods of conducting marketing research to answer these questions. Be sure to include why you chose these particular methods.
  • Outline the steps you will take to bring your product to market from idea generation to commercialization, using a multi-step product development process.

Format your assignment consistent with APA guidelines.

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1 Elements of a Marketing Plan Report Gabriel McKnight MKT/421 March 23, 2017 Mr. Gary Connelly 2 Elements of a Marketing Plan Report Key environment forces that created an opportunity for Organogold international was the rise of Starbucks and the success for McDonald’s Mc Cafe. Starbucks made it cool to drink coffee. Coffee houses begin to popup on every street corner. The remake of your parent’s coffee into a cool hip sugar filled beverage began to fill the hands of all types of people and all age groups as well. Changes in Purchase patterns The biggest change in the purchase pattern of coffee drinkers is the amount they were willing to pay for their favorite coffee infused beverage. Consumers where not only getting a cup of java at five in the morning to wake up on the way to work, kids where getting fruity coffee beverages on the way to school and during lunch. Suddenly people were getting cups of coffee on the way home or after school, on their way to study hall, or just while utilizing wifi and the neighborhood coffee house to check their social media pages. The world and things around the consumer was changing but the one consistent thing was not only coffee, but the value of its bean. Identifying Key trends Starbucks made it socially acceptable to pay five bucks for a cup of coffee. Coffee now appealed to every audience. Organo Gold with a superior product at a fraction of the cost began to make its mark in the coffee industry. Economically Organo Gold or (OG) as it is often called gave the average individual the economic power and opportunity of owning their own international coffee company without any of the overhead you would see in a traditional brick and mortar store. Without the insurance, employees, and utility cost of a store front individual had the opportunity to earn more than your average Starbucks monthly. OG maximized 3 technology by allowing individuals to manage their coffee company from a computer with a website and back office software that allowed you to manage orders and even utilize e-commerce from any computer or smartphone in the world. OG had a competitive advantage in that it had a great variety of coffees that had a health component to them. This competitive advantage allowed OG to flourish because of the patented process it used to infuse all its beverages with ganoderma also known as the red reishi mushroom. OG had no regulatory issues with fair trade coffee and organic ganoderma. Some of the biggest trends that OG capitalizes on and will continue to help them flourish in the future is the fact that a clear majority of Americans are now focusing on health and trying holistic and organic remedies instead of traditional medicine, these trends will continue to influence OG’s marketing efforts couple with an economy that does not provide consistent jobs that can support a dreamer’s dream having a home-based business has become extremely popular. The boom of social media is another trend that will allow Organo Gold to continue to compete with the large companies without an advertising budget because social media as made it so easy to advertise. With one post and a few retweets millions can hear about their product without them spending a dime. The Target Market A superior product at a great price will continue to be one of the strategies they use to be a top company in its industry. The personal development and passion of the leadership is often what makes individual join the company or use the product over other companies and similar products. OG values its distributors and partners in the world of network marketing. Per its Executive Vice President of International Sales Holton Buggs,” It will be you who takes this product sample by sample, to the People of the World. It will be you who helps us capture 1% of the global coffee market. It will be you who makes OG the most admired company in the world. 4 So, when someone ask what the difference is in your company and theirs tell them it is You.” (Gold pg 11) Learning from the Geek Squad One lesson that OG can learn from the Geek Squad is partnerships. To evolve with the times the Geek Squad partnered with Ford to assist in the technological advances of solar and electric vehicles, by using their technical skills to assist customers in installing and setting up charge stations for their electric cars. In this manner OG can partner with companies that could not only assist in its sell of products but can merge networks to reach more individual in the quest to capture 1% of the coffee market and become a billion-dollar company. 5 Reference Buggs, H., Morand, S., & Chua, B. (2013, October). message From the Executive Vice President of International Sales. The Gold Standard in Network Marketing, (), 11 1 Elements of a Marketing Plan Report MKT/421 2 Elements of a Marketing Plan Report Key environment forces that created an opportunity for Organogold international was the rise of Starbucks and the success for McDonald’s Mc Cafe. Starbucks made it cool to drink coffee. Coffee houses begin to popup on every street corner. The remake of your parent’s coffee into a cool hip sugar filled beverage began to fill the hands of all types of people and all age groups as well. Changes in Purchase patterns The biggest change in the purchase pattern of coffee drinkers is the amount they were willing to pay for their favorite coffee infused beverage. Consumers where not only getting a cup of java at five in the morning to wake up on the way to work, kids where getting fruity coffee beverages on the way to school and during lunch. Suddenly people were getting cups of coffee on the way home or after school, on their way to study hall, or just while utilizing wifi and the neighborhood coffee house to check their social media pages. The world and things around the consumer was changing but the one consistent thing was not only coffee, but the value of its bean. Identifying Key trends Starbucks made it socially acceptable to pay five bucks for a cup of coffee. Coffee now appealed to every audience. Organo Gold with a superior product at a fraction of the cost began to make its mark in the coffee industry. Economically Organo Gold or (OG) as it is often called gave the average individual the economic power and opportunity of owning their own international coffee company without any of the overhead you would see in a traditional brick and mortar store. Without the insurance, employees, and utility cost of a store front individual had the opportunity to earn more than your average Starbucks monthly. OG maximized 3 technology by allowing individuals to manage their coffee company from a computer with a website and back office software that allowed you to manage orders and even utilize e-commerce from any computer or smartphone in the world. OG had a competitive advantage in that it had a great variety of coffees that had a health component to them. This competitive advantage allowed OG to flourish because of the patented process it used to infuse all its beverages with ganoderma also known as the red reishi mushroom. OG had no regulatory issues with fair trade coffee and organic ganoderma. Some of the biggest trends that OG capitalizes on and will continue to help them flourish in the future is the fact that a clear majority of Americans are now focusing on health and trying holistic and organic remedies instead of traditional medicine, these trends will continue to influence OG’s marketing efforts couple with an economy that does not provide consistent jobs that can support a dreamer’s dream having a home-based business has become extremely popular. The boom of social media is another trend that will allow Organo Gold to continue to compete with the large companies without an advertising budget because social media as made it so easy to advertise. With one post and a few retweets millions can hear about their product without them spending a dime. The Target Market A superior product at a great price will continue to be one of the strategies they use to be a top company in its industry. The personal development and passion of the leadership is often what makes individual join the company or use the product over other companies and similar products. OG values its distributors and partners in the world of network marketing. Per its Executive Vice President of International Sales Holton Buggs,” It will be you who takes this product sample by sample, to the People of the World. It will be you who helps us capture 1% of the global coffee market. It will be you who makes OG the most admired company in the world. 4 So, when someone ask what the difference is in your company and theirs tell them it is You.” (Gold pg 11) Learning from the Geek Squad One lesson that OG can learn from the Geek Squad is partnerships. To evolve with the times the Geek Squad partnered with Ford to assist in the technological advances of solar and electric vehicles, by using their technical skills to assist customers in installing and setting up charge stations for their electric cars. In this manner OG can partner with companies that could not only assist in its sell of products but can merge networks to reach more individual in the quest to capture 1% of the coffee market and become a billion-dollar company. 5 Reference Buggs, H., Morand, S., & Chua, B. (2013, October). message From the Executive Vice President of International Sales. The Gold Standard in Network Marketing, (), 11
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Explanation & Answer

Hello there, below is the completed assignment as per the requirements.
Kindly go through it and if there be anything that needs correction, I will be
glad to do it and if satisfied kindly review me. Thank you

MARKETING PLAN FOR ORGANOGOLD INTERNATIONAL

MARKETING PLAN FOR ORGANOGOLD INTERNATIONAL

Author:

Instructor:

Institution:

1

MARKETING PLAN FOR ORGANOGOLD INTERNATIONAL

2

MARKETING PLAN FOR ORGANOGOLD INTERNATIONAL

Target Market

Organogold International is a worldwide company for network marketing whose mission
is to spread Ganoderma knowledge to the whole world. Organogold refers to both the company
and coffee name that is produced. What makes the brand unique from the other coffee brands is
its content of Ganoderma lucidum which is a kind of mushroom identified to bring very many
benefits of health. The company wants to launch a new product line called BrewKups which is
single-serve products of coffee at Organogold International in order to promote its sales to an
advanced level. With Organogold, choosing a target market is not complicated or complex
bearing in mind the company has been in existence in 2008. In addition, almost everyone loves
coffee or tea hence as our target market we will think of everyone and all the different need they
can have. From college going students to working individuals and for or this reason, the
company has decided to think outside the box in evaluating ways of reaching more potential
consumers by attracting with this new product (Freytag & Clarke, 2001).
The company’s headquarters is in Canada and this only means that the new product will
be distributed to all of America targeting both the old and young consumers. Some of the trends
capitalized by Organogold is that majority of Americans are currently concerned with their
health rather than traditional medicine and this gives our BrewKups product even a higher
chance of penetrating the market due to numerous health benefits. To further define the market,
the company has decided to target homes and offices of those interested in testing the new
product of coffee. This new product aims also at showing how more easily it is to enjoy the new
delicacy in the upcoming season of holiday. Organogold will also provide complimentary

MARKETING PLAN FOR ORGANOGOLD INTERNATIONAL

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products...


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