Keiser University Marketing Process of Introduction Paper
ANSWER
Product Name: SmartHealth Bracelet
Description: The SmartHealth Bracelet is a revolutionary health and fitness wearable that goes beyond traditional fitness trackers. It combines cutting-edge technology and innovative design to offer users a comprehensive health monitoring and management experience. The bracelet includes sensors for tracking heart rate, sleep quality, blood pressure, and stress levels. It also incorporates GPS for accurate workout tracking and location-based features. The device is water-resistant and has a sleek, minimalist design, making it suitable for everyday wear.
Degree of New Consumer Learning Needed: The SmartHealth Bracelet would require a moderate degree of new consumer learning. While it builds on the concept of fitness trackers, its advanced health monitoring capabilities and additional features would require users to understand how to interpret and use the data effectively. However, it leverages the familiarity consumers have with wearables, making the learning curve manageable.
Target Market: The target market for the SmartHealth Bracelet includes health-conscious individuals, fitness enthusiasts, and people looking to improve their overall well-being. It’s also suitable for individuals with specific health conditions that require constant monitoring.
Uniqueness: The SmartHealth Bracelet stands out due to its comprehensive health monitoring capabilities, including stress tracking, blood pressure monitoring, and advanced sleep analysis. It also offers personalized health recommendations based on the collected data, making it a holistic health management tool.
Price: The pricing strategy for the SmartHealth Bracelet would be competitive with other high-end fitness wearables, positioning it as a premium health and fitness device.
Promotion: The promotion strategy would involve targeted digital marketing campaigns, partnerships with fitness influencers, and collaborations with healthcare professionals to highlight the bracelet’s health benefits. Additionally, offering a free companion app with the bracelet would encourage users to track their health data.
Distribution Strategies: Initially, the SmartHealth Bracelet would be available through online channels, including the company’s website and major e-commerce platforms. Later, strategic partnerships with retail stores specializing in health and fitness products could be explored to expand the distribution.
Newness of the Product/Service: The SmartHealth Bracelet is relatively new in the market due to its advanced health monitoring features. While fitness trackers are common, the incorporation of stress tracking, blood pressure monitoring, and personalized health recommendations sets it apart.
Success: The success of the SmartHealth Bracelet would depend on several factors, including effective marketing, user-friendly design, and the accuracy of its health monitoring features. Additionally, staying updated with the latest health trends and continuously improving the device’s software would contribute to long-term success.
QUESTION
Description
Assignment 5
Search internet for a new product which is recently introduced to the market or in the process of introduction (potential product). Describe the new product (upload a picture or a video of the product.) You need to explain your new product or service degree of New Consumer LearningNeeded and make comments about the success of the new product. Please include target market of the product as well as uniqueness, price, promotion and distribution strategies briefly in your comments. Comment also of the newest of the product/service. You will be graded based on the creativity, originality and feasibility of your product/service.
Assignment 6
Take a picture of a product with the best innovative packaging. What is unique in this package? What do you think about the role of this package for the marketing and sales of the product? What types of value this package add to the product? (read the Packaging and Labeling part in your book to remember functions of packaging and write the functions of packaging in a few sentences ). Also discuss the information provided on the label of this package. You will upload a word document.
Assignment 7
Describe your last outstanding and horrible customer service experiences. How did it affect your attitude toward the firm? How did it affect your purchase behavior? What type of service gap(s) caused your horrible service experience? What type of service recovery the firm tried to solve your problem?
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