Question

You are to choose a particular product of interest and following the various things that you have learned throughout the course( Consumer behaviour), design a plan to market the product to consumers. In doing so, make sure that you take into account their likely behavior towards purchasing the product and detail the steps that you would take in this respect.

Answer 1

answer-

The product which i would be discussing its marketing to customer is wireless earbuds. The plan of marketing for this product would involve the following steps-

Describe the product and sales goals. Start by writing down a description of the product you’re marketing. Rather than focus on the features of the product--size, style, color--use the description to describe how the product benefits your customers .this product is very useful because it would help customers to get calls, disconnect call with tap, cancel the noise around and hear voice clearly, run for 10 hrs with single charge and have fast change option.

the second step would be Put together a market analysis. The market analysis is an evaluation of the internal situation of the business marketing the product, the competition and the market conditions that exist for the product. Start by listing the strengths and weakness that exist internally and with the product.

This product has less competition but competition is big even though there only few firms which sell them like Apple, Xiaomi, Samsung but i think the given benefit of my product will outrun their products.

the third step of my plan would be Describe the target market. The target market is a description of the individuals or groups that use the product or who would benefit the most from the use of the product. for this i would segment my market based on demographic in which My target customers would be young age people like students, i also target professionals who do business on calls. based on pyschographic segment i would target customers based on lifestyle and interest who likes to listen music and hear music at gym.

the last step of my plan would be Create marketing strategies in which i would market my product by advertising it on social media, positing product review videos etc i would also advertise it on Tv commercials. for its distribution i would sell in online to save the cost of implementing showrooms when the product is famous then we can go for brick mortar route.