Marketing Plan for MP3 Wireless on Wrist

Marketing Plan for MP3 Wireless on Wrist

Part 1: Customer and Market Profile

Intro to the Product - Service Concept

Technology has become highly interwoven with our everyday lives in every aspect. This specifically pertains to wireless communication which has introduced various smart and handy gadgets which people love to personalize because these innovations have changed the way people used to interact in the past. Wireless networking has removed the binding wires that used to be necessary in the past to in order to get connected to the Internet or to join a local network. Nowadays, people want to have pocket and palm-sized wireless gadgets. From the simple mobile phone to the installments of sophisticated add-ons like that of Bluetooth, infra-red and Wi-Fi technology, the world has come closer than ever before.

Our company has embarked upon the latest technology of music on the wrist. This product is an MP3 wrist band with wireless earplugs. Such products are underway in various organizations and are believed to be a massive success amongst the music loving and tech savvy individuals. Our product has all the functions of an MP3 in a small and stylish bracelet. This product is targeted at the next-gen users as their major requirement will be a gadget which is small and convenient, which can be easily offer them clutter free music.

What Need (want or desire) are you satisfying?

The need and desire of the individuals of quick, easy and convenient access to music will be satisfied by this product. The easy wearable and elegant gadget will fulfill the needs of the fast paced life of the individuals. They will not have to worry about carrying around the gadgets in their bags and pockets. This device is designed to complement the fashion style of the individuals. It is a portable music device which has a safe and flexible OLED screen which allows the users to select the songs or control the volume with a slight touch of their finger. The individuals will not have to worry about losing their devices as this product is worn around the wrist and looks like a bracelet. The product provides easy access to all the functions and also includes sleek and stylish wireless ear plugs which provide the users with easy music on the go.

Who is Your Target Market?

Identification of a target market is not enough for the success of the market plan and the strategic objectives of the company. It is crucial to understand what type of audience is being focused and targeted in the market (Carey & Essasyyad, 2008). Is the market being targeted relates to rural areas or modern, is the product being focused on children's or adults? All these questions must be answered in order to make a proper achievable market plan. This product has diverse target market but is specifically targeting the youth and the music lovers. It does not only target the youth, but it also targets the adult market who have a passion for ...