MKT 421 week 4 marketing research paper

School: University of Phoenix           Price: $10.00 USD

Document Description

Use the same company from your Week 2 assignment.

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

Write a 1,050- to 1,400-word paper and include the following information:
•Choose the target market for your product, and describe your target market in detail.
•Create a new product which 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.
•Once you have finalized your product concept based on the findings of your market research, 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 paper consistent with APA guidelines.

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University of Phoenix
Marketing Research PaperMarketing Research PaperRob HaroFebruary 13, 2016MKT/421Joseph Roskoski1Marketing Research PaperIntroductionKeeping a service or product as diverse as your target market can ensure more consumerswill be attracted to your company overall, and will allow for better marketing campaigns. Havinga niche will ensure the product is seen, as well as memorable and unique, however, integratingseveral niches into one service will increase awareness, consumer base and target market. Wewill be able to reach consumer who would have never considered our brand before, whileincreasing overall revenue for shows.Target marketThe MMA market has been an industry that has exploded since its inception in 1993, andnow encompasses a variety of shows and services, such as fan expos, television and radio shows,and much more. MMA is a niche in its own right, since it combines several martial arts andstyles, as opposed to Boxing which is purely a stand up fighting sport with punches, and is moreexciting to watch. The current target market consist of 75% male, and 25% female, with thosepercentages rising as more and more women join the sport. Just under half (48 percent) ofAmericans ages 12 and older are fans of fighting sports, the eighth-largest amount among the 32sports now tracked. Sixteen percent of Americans have an avid interest in one or more of thethree forms of fighting, placing fighting seventh in avid fan base size when compared to theoth
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