STRATEGIC MARKETING PLAN II

The Iron-Pad

Mohammed N. Islam

American Intercontinental University

Strategic Marketing Plan:

Since the iron-pad is a carefully enacted and technologically advanced alternative for a conventional iron, its objectives are similar to the iron. It has the same functions and features as the iron, but is more conveniently designed and is especially available to those who are short on time. The cost is a major difference between a conventional iron and my product as well, which I believe will be a major factor in determining its success. My focus in choosing to go with this product was to reduce human effort in homely products. There is gender neutrality to the product as well which I made sure was a feature. Apart from this, time constraints were a big focus on my research as well, which I wanted to address through my product. My theory is that since the world we live in is so fast paced, saving time and decreasing human made effort in every day products should be made a priority. Thus I tried to incorporate that from my objectives to the actual product.

My mission statement is to build a secure, expedient and easy to use product as part of my course development. I aim to achieve this through creating a substitute for a product that is part of every day use, and is considered to be a hindering part of the day. Being inconvenient and time consuming, I chose conventional irons as my potential product and chose to enhance it.

Objectives

I named my product “The Iron Pad”, and it is a much more design specific and technologically advanced alternative for a conventional iron. Although it has all the functions that a conventional iron may have, it does have the added benefit of being lighter, with more conveniences and features that may serve to provide the function of time saving. Apart from this, it is comparatively cheaper and requires significantly less human effort to press clothes, which I believe will definitely help in achieving success. I also tried my best to address time constraints while researching for this project, as I myself have experienced the inconvenience of being late because of this particular reason. I addressed this issue through creating a more powerful inner structure of the iron, so that less effort would get more work done. My theory was made applicable through saving time and decreasing human made effort in every day products.

Customer Targets

My target audience will be from 18 to 40 years old. Although there may be doubts cast on the mass marketing option that I have chosen, I believe that in the long run, promoting home appliances to a younger audience pays off. As a teenager is likely to go on and make an independent living after hitting eighteen years of age, they will be the ones making buying decisions from then on. I have chosen this target market as I myself have experienced similar inconvenience when using the desired product. In this way I am ...