New Product Launch Marketing Plan, Part Two

MKT/571

New Product Launch Part Two

Introducing a new product is a difficult task and requires the company to ask itself many questions, such as how does it segment the market, which is its target market, and how does it communicate its product to consumers. Researching buying behaviors and buying decision motivators is a helpful step to determine the target market for vitamins in both the American and Canadian vitamins market. Developing and managing product life-cycle (PLC) strategy is also important especially the introduction and decline stages because both decide the future success of the product. Along with choosing a target market and PLC strategy, Learning Team B develops a positioning strategy to...