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Product Reassessment

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Product Reassessment
MKT 100, Principles of Marketing November 29, 2012

Abstract

The purpose of this paper is to thoroughly speak about choosing a consumer product or service that is on the market today that does not appeal to the consumers and is near obsolete. I am going to identify the key elements by touching on US Census Data, why the product is declining in popularity and discuss the best foreign country that can use this product.

1. Discuss this product in terms of its repositioned target market demographics using U.S. Census Data. My product that I chose was the CD player. Technology has had an enormous impact on our society throughout our history as I reported. The music industry has been around since the 1960’s and music has influenced politics, culture, and social issues. Repositioning the cd player within the United States could be a challenge due to the enormous display of the most updated technology the Mp3 player and the IPod and I pad. As you can see, these three technologies have many of the same functions, but the way that they store music and how they read music are totally different. Before you can really understand the differences between these, the consumer or the company needs to grasp what each of these technologies is capable of. For example, a CD player can be referred to a stereo and the iPod and Mp3 player can be plugged into a port that is connected to speakers. These are good examples for if you are looking for a stationary musical media player. Something interesting about the stereo is that it can hold multiple CD’s at one time and are interchangeable. So like the iPod, they can play multiple albums and select the album that you would prefer, manually. With this being one of the most important parts of repositioning the cd player, it is really important for you to know your

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