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Marketing Strategy for a New Product Essay Example

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Marketing Strategy for a New Product

Marketing Strategy for a New Product. Type of machine, have busy lifestyles, and often demand for convenient products that offer quicker and better results while supporting the environment and saving money, energy, and time.  Considering that the product will be sold to middle-class as well as a spatial population of the high-end consumers, this target market is characterized with preference for quality irrespective of the price. These consumers also often use technology thus a technologically advanced product will be most preferred for them.Majority of washing machines just eliminate significant water amounts from the laundry at the end of the wash cycle, but they do not completely dry it. Considering the fact that most customers need dried apparel, the new machine would go a step a further and dry the clothing something which “laundry reloaded provides.

” By using this product, customers will be relieved from worrying about transferring their washed clothes to the dryer. From the customer’s perspective, this laundry-reloaded product is highly convenient because it is compact, easy to use, and has the additional benefit of the laundry view text option. Additionally, the product is stylish and has a great design.The laundry reloaded machine will be small so that it can fit into an average size laundry room. It will be available in multiple colors such as white, silver, black, red, blue, and pink. The product has more appeal to sustainable consumers who want to save on their energy costs.This product is different from competitors because no other laundry appliance company is offering this two in one technology. Another competitive feature of the “laundry reloaded” is the presence of the laundry view. The laundry view allows the user to check the status of machines in laundry room without ever having to be in the laundry room. This laundry view gives text alerts when the dryer is complete.Considering that the most common problem for most laundry machines is shrinkage of garments, the developed machine would have a feature for preshrinking the clothes in order to avoid this problem. Another common problem that has been alleviated by this new product is color bleeding. Although most of the machines wash clothes with same color to avoid this problem, in this case, ‘laundry reloaded would lessen this problem by adding cold water and providing repeated washings in a shorter time.The product will be placed in areas where the footfall of the target audience is maximum. Marketing Strategy for a New Product.

Works Cited

Boddy, D., and Paton, S. Management: An introduction. Harlow: Financial Times Prentice Hall, 2011. Print.

Boone, L. Contemporary Marketing. New Delhi: MacMillan Publishers, 2012. Print.

Hill, T. and Westbrook, R. "SWOT Analysis: It’s Time for a Product Recall". Long Range Planning 30. 1, (2007): 46–52.

Porter, Michael. Competitive Strategy: Techniques for analyzing industries and competitors, New York: The Free Press, 1980. Print.

Laermer, R., & Simmons, M. Punk Marketing, New York: Harper Collins, 2007. Print.

Homburg, C., Sabine, K., and Harley, K. Marketing Management: A Contemporary Perspective, London: Sage Publishers, 2009.

Shaw, E. "Marketing strategy: From the origin of the concept to the development of a conceptual framework." Journal of Historical Research in Marketing, 4.1(2012): 30–55.

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preview essay on Marketing Strategy for a New Product
  • Pages: 7 (1750 words)
  • Document Type: Essay
  • Subject: Marketing
  • Level: Masters
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