Create a 2 pages page paper that discusses marketing plan -marketing stratgy-target customer. Marketing Plan-Marketing Strategy-Target When businesses introduce new products in the market, they need to plan on how they will market to the target consumer. Starting up by writing an outline of the marketing strategy to use is essential. A well-documented marketing strategy provides specific goals like the description of the key target buyers. competitive market segments, distribution channels, product positioning, pricing strategy, research and development and expenditure strategies. In addition, the marketing strategy should define the business and position the product as a leading product.
The first step is conducting a market research for the smart home control system (Brethauer, 9). It is important to know who is using the product, who will be interested in the product, as well as the actual people who will purchase the product, and to whom the control systems will benefit. Likewise, an adjustment should be done based on the market results. Moreover, an investigation should be conducted on the competitors of the smart home control systems. It is necessary to evaluate how the new product differs as compared to the competitors’ products. Furthermore, test the new product with focus groups to determine their feedback to the promotions.
The use of other marketing platforms to advertise the control system is vital. For example, the use of online promotions on social media like Facebook and twitter, using television spots, the use of out of home advertising is also necessary. The use of website is the most efficient way of advertising because the word today depends on technology. Most people use the internet, a visitor may land into the smart home website, and they will be able to learn more about the new product. It is also necessary to create a public relation program where the press is allowed to review the product, then writing articles to send to the public media, providing interviews to the smart homeowners and allowing them to provide detailed information about the new product.
It is also important to hold a launch event. During the launch event, many opportunities are available to present the product to target market. This will bring about brand awareness and people may be interested to purchase the product. Additionally, to evaluate the readiness of the launch to ensure that the timing is coordinated and the product is readily available after its announcement. Also, the smart home control owners should create a marketing plan tracker that will aid in doing regular follow-ups to ensure that all involved persons is informed on the undergoing of the new product. Moreover, it is important to plan on how the new product will get to the target customer. the avenues depend on the budget ability. Lastly, it is important to know what geographical regions to begin with. This is because it is easier, for instance, to market and sell the products in the urban areas as opposed to the rural areas.
In conclusion, a good marketing strategy is important for the success of new products. Marketing plans are essential for the promotion and the entry of the products into the market as well as capture the target consumer therefore, for the smart home control systems to be successful and to be accepted into people’s homes, it is necessary to have a good marketing plan that will aid in the success of the new product.
Brethauer, Dale M. .New Product Development and Delivery Ensuring Successful
Products through Integrated Process Management. New York: AMACOM, 2002. Print.