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Mkt 571 Week 2

In: Business and Management

Submitted By nahrwoldt
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New Product Launch Marketing Plan, Part I Bondeana Johnson, Teresa Penrose, Christopher Hetelle, Amber Turner, Charlene Snowden,
Timothy Nahrwold
Team A
University of Phoenix
MKT
571
Professor Kraus
November 25, 2013

New Product Launch Marketing Plan, Part I
Market Needs
The market need for a new redesigned sneaker is very high in China and India, and in select markets of the United States. Consumers are interested in new ergonomically designed sneakers that support workouts instead of the average multi- purpose workout sneaker. Launching a new sneaker will make it convenient for consumers to derive the benefits of ergonomically supportive workouts that allow a more comfortable fit and lead to superior body support. Careful consideration of demographic factors reveals that young people will be the highest level of consumers of the new product. The rising level of health consciousness is forcing many manufacturers, including the standard sneaker manufacturers to offer more enhanced and functional products to consumers. Purchasing sneakers for use in gyms is increasing in India and China because of consumer awareness relating to the benefits of working out. Additionally, the product choices that consumers make in the United States are highly influenced by weight management programs and gym workouts. In the United States, the new sneaker subsector in select city environments would outperform the standard gym sneaker. Many consumers are seeking better value and a more ergonomic product because of the redesign of the standard sneaker (Jean-Francois, 2010).
Market Growth
The potential growth for a new ergonomically designed sneaker, targeting the workout market in India and China has a large potential growth of upper income consumers who need support for increased healthy workouts and body toning. The United States market is somewhat saturated…...

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