Description
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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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
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MARKETING PLAN FOR ORGANOGOLD INTERNATIONAL
MARKETING PLAN FOR ORGANOGOLD INTERNATIONAL
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MARKETING PLAN FOR ORGANOGOLD INTERNATIONAL
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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...