The paper is a case study for a company proposal of the new product to be launched in the market. It looks at the qualities that the product offers and the solutions to problems that are offered by the product. It also looks at the market entry strategy for the product and the factors that will determine the success of the product in the market.
Business Proposal
The triangle company is a leading E-commerce company that provides an online access of their products such as computers and computer accessories across the world. Due to the recent trends in technological changes there is needof the company to diversify their product and probably bring new products in the market that can meet the needs not fully provided by the products that they already have.
This paper will look at a new product that will meet the needs in the market, the pain points that the customers feel and the solution that the new product will offer to the needs of the customers. It will also look at the market that is being targeted in terms of size and the potential to grow. The major competitors of the product that is set for launching and the marketing strategies to be used to introduce the product in market will also be dealt with. Finally the paper will look at how the product will be priced and what aspects of the product will be emphasized when introducing the new product in the market.
The product idea that I have in mind to be launched in the market as the product manager for Triangle solution is tablet computers. Most tablet computers have been developed in a way that they provide platforms for audio-visual media including books, movies, music, games, applications, periodicals and web content. The customers often complain of the fact that they owned devices that are under a pressure-triggered stylus. They complain that they often loose these styluses and then on it become difficult to operate the device. The tablet computers that are controlled by a multitouch display will solve this problem since the use of the stylus is eliminated. Some of the devices like PCs are quite bulky and transporting it from one area to another is difficult. The tablet computers tend to have a weight and size that is way below house of contemporary laptops and PCs previously made by this company. The tablet computers will therefore bring with it an easy way of transportation and hence they can be used at any time from any point without facing any difficulty. The new product will come with great clarity; their display will be an imaginable and very great wireless connection.
The cameras will also come with very great clarity to achieve competitive advantage of personal computers such as laptops and desktops. The tablet computer devices will encompass cameras and other services that are available from laptops and PCs, the tablet computers will therefore bring a great solution to the Triangle Company since they will just be the single devices with all the services. This will be a cheaper option to the customers who need cameras, wireless services, video recording and many more that the tablet offers. This is because all the features that may be required by the customer are inbuilt. There is no doubt that this product will offer many solutions to the customers in general.
The product mainly targets the frequent travelers, in that; it solves tasks such as taking laptop on the plane to watch movies with their battery power being ultra-slim. The product also targets the business people because of its suitability; they are lighter than laptops and appropriate for travelers who never do heavy document editing while travellingfar distances.
The product will contribute to potential growth of new technologies within the companies. Managers will be capable of sharing information which is much quicker as compared to when they have to sit back in the offices to share information using the PCs. The product also will target the teenagers who may use the product to listen to music, play games and to chat with friends online. The channel that will be used for the product to target the market size and potential growth is advertisement. Advertisement tends to be the fastest means of communication, since it captures the peoples' attention more quickly as compared to other channels of communications such as using of flyers and promotions.
Marketing mix/strategy
Marketing strategies used for the product involves the 4ps which are the Price, Promotion, Place and Product as indicated by the Business Dictionary (2012).The 4ps of the product will be emphasized on since this will make the customer know what the product is all about, the place where the product can be bought from, it's way of promotion and how it is being priced as compared to its other competitive products.
Pricing of the tablet computers will be the main concern of the product to achieve its competitive advantage in the market, most products usually gain their competitive advantage from the pricing. The product will be priced where, when one purchases any tablet computer, he/she will be given some discount of a certain percentage. The price will also be gauged at least 5% less than the competition so as to try and capture the market, and this will be used as an introductory pricing rather than predatory pricing.
The promotion strategy will be to target the young people and the young professionals since they are able to quickly shift to the new technology changes that provides the cutting edge applications and applicable solutions to their kind of work, both of which this tablet will offer. These people are familiar with the technology that changes every day, hence may be in a position of understanding different tablet application. Conversely, it is true that people with older age will not prefer this product because of its complexity.
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