Marketing the New Product of IMMO Essay Example | Topics and Well Written Essays - 3000 words

Marketing the New Product of IMMO - Essay Example The product should be differentiated and branded differently and it should target different segments of the market as well as well as be priced differently. Further in terms of forecasting demand for the product, it is advisable that the organization obtains orders from the law enforcement agencies as well as from retailers before deciding on the number of units that should be manufactured at launch and in the four quarters of the first year. The objective of this report is to help the management of the organization to decide on the different strategies that it should undertake to ensure that it is meets its full potential in profitability and market penetration. Throughout this document the author has carried out an in depth analysis of the organization, its products, the markets that it wishes to penetrate and the current economic conditions and makes the necessary conclusions and recommendations. In this report the author first analyses if IMMO Tech should proceed with its plans to market the new product, and then the if the organization should enter into any international markets and if so which ones in particular. ... alyses if IMMO Tech should proceed with its plans to market the new product, and then the if the organization should enter into any international markets and if so which ones in particular. Further the author also analyses which market segments and target markets should they focus on, who the target consumers are and which social demographic and lifestyle characteristics they have to share. Once the author studies the different demographic groups in and their similar characteristics the author then goes on to advice the organization on the importance of standardizing or differentiating the products according to the market segments that are targeted and how this can be done to suit the different markets. Next the author analyses the pricing strategy and which strategy should be adopted at the early stages of the product's life cycle, the retail price that should be recommended to the stockists. Since the pricing strategy has been recommended the author then goes on to study and analyze the implications of charging different prices in different markets and the extent to which exchange rates play a role in the context international business. In the final sections of the document the author then analyses if IMMO should develop a range of accessories, if the organization does decide to produce accessories then, how will they add value to the brand and the profitability of the organization. How will it be done in a manner that it rivals can copy Then the author goes on to analyze how and where IMMO should promote and advertise its smartphone, how many units should IMMO Tech manufacture in the run up to the launch And finally how many should be produced in the first four quarters after the launch Once all of the above has been analyzed in detail the author then draws