Introducing A New Product Marketing Plan

Length: 2 pages Sources: 2 Subject: Business - Advertising Type: Marketing Plan Paper: #47787620
Excerpt from Marketing Plan :

Marketing Campaign

Focus lenses core competency is provision of traditional contact lenses. In a bid to satisfy the needs of its increasing range of customers, it has undertaken to focus on creating liquid drop contact lenses. Its customers are transforming from wearing the traditional contact lenses to liquid drop lenses. It intends to use state of the art technology to create liquid lenses. Its opportunities and strengths are based on its competition and the impending expansion into other market territories. Customary contact lenses pose serious competition to liquid drop lenses. This is the most outstanding weakness Focus lenses has. Price wars are likely to emerge because Focus lenses competitors are more likely to introduce a similar product. Focus Lenses has a loyal customer base this gives them an edge with regard to marketing and promoting liquid drop contact lenses which its competitors do not have. Focus lenses business model allows the consumers of its products to view the new model of lenses as a quality product, personal need, convenient and reasonably priced. The uniqueness of liquid drop contact lenses gives the company an edge...

...

Besides, Focus Lenses uses state of the art systems with scientific testing and development capabilities.

The company's weakness is attributed to inability of the product to provide enough liquid lenses distribution and customer skepticism. Nevertheless, as the company expands nationwide, the profits accrued will allow for new product selections. Focus Lenses opportunities and threats are based on its competition and its impending expansion into other market segments that have limitations arising from their other competitors.

Focus Lenses Domestic and Global Product Branding Strategy

Focus Lenses currently enjoys a huge loyal customer base many of whom were loyal buyers of their traditional contact lenses. They currently make use of state of the art systems with scientific testing and development capabilities (Gluck, 2013). Liquid drop lenses are set apart from countless others based on brand name. They are not the traditional contact lenses that currently dominate the market. This compels the customers to buy them based on emotional ties to what the brand implies. The product has been positioned in such a way that customers think of it as less expensive than the competition and higher quality than the competition.

Focus Lenses Pricing Strategy

Their liquid contact lenses are priced with competition in mind. The company is not so…

Sources Used in Documents:

References

Gluck S. (2013). Product and Brand Strategy. The Houston Chronicle. Retrieved April 28, 2015

from http://smallbusiness.chron.com/product-brand-strategy-3218.html

Kent B.M. (2004). The Pricing Strategy Audit. Cambridge: Strategy Publications.

Magloff L. (2013). Push and Pull Promotional Strategy. The Houston Chronicle. Retrieved April
28, 2015 from http://smallbusiness.chron.com/push-pull-promotional-strategy-10972.html


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