Marketing and New Product Development

Marketing and New Product Development. Analyze data sources and uses in the local, national, and global marketplaces. Evaluate various methods for creating customer value.

Compare and contrast the ways that a company can create brand identity.

Assess internal and external communication needs as they relate to the marketing function

Assess challenges for a domestic company marketing globally.

Analyze challenges related to the implementation of marketing efforts.

Develop a marketing plan.

The concept of corporate social responsibility

with the concept of corporate social responsibility. Is sustainability a viable concept for American businesses? As you research your response, find out what well known companies are committed to this concept. Find at least five examples (5 different companies) and report on what significant steps they are taking to promote the concept of sustainability a. Is sustainability a viable concept? Why or why not? b. List 5 major corporations or companies who practice sustainability and specific examples of their efforts

What is Amazon’s market entry strategies

What is Amazon’s market entry strategies in the Philippines for: 1. Segmentation, 2. Targeting, 3. Positioning strategies, 5. Export selling and 6. Sourcing activities?

The maturity and decline of the product life cycle

Describe the difference between the maturity and decline of the product life cycle. Explain the difference in terms of products, pricing, channels, and promotional objectives. Give an example of each.

Discuss the laws of supply and demand

Discuss the laws of supply and demand and the relevance of economics to healthcare policy.

Explain how one can incorporate effective communicator traits in their personal and professional roles?

Provide the advantages and disadvantages of online marketing

Provide the advantages and disadvantages of online marketing, social media and salesperson. To what extent have online and social media resources replaced salespersons?

Explain the importance of using a strategic approach

Explain the importance of using a strategic approach and provide examples of the approach?

Steps in the price promotion doom loop

Describe the steps in the price promotion doom loop and why this happens to brands.

The significance of Artificial Intelligence  to a marketer

  1. describe the significance of Artificial Intelligence  to a marketer:
    • What consumer behaviors might change?
    • Which industries do you believe will be most affected by this trend?
    • Why and how and will they be affected?
  2. For Artificial Intelligence, pick a Canadian brand and describe what they should do in response to this trend OR provide an example of a Canadian brand that is already clearly demonstrating success based on this trend. rationale or insight should be provided on each.

The success of key elements of the marketing plan

Identify the way(s) in which the success of key elements of the marketing plan will be measured as it relates to the impact on the desired plan outcomes of capturing the value of building profitable customer relationships.

  • How are our marketing activities performing today? How about in the long run? What can we do to improve them?
  • How do our marketing activities compare with our competitors? Where are they spending their marketing dollars? Are they using channels that we aren’t using?
  • What should we do next? Are our marketing resources properly allocated? Are we devoting time and money to the right channels? How should we prioritize our investments over a certain time period?

Here is a description of our product Motivation FITBIT

 

Motivation Fitbit is determined to ensure that our target audience (people between 18-65) gains and achieves the fitness standards of their respective desires. We have offered a wide range of services, through modern technology, to customers of different dimensions within the fitness industry. Motivation Fitbit, like every other product offered by FITBIT, intends to motivate customers even further as they strive to achieve their body goals (Ringeval et al., 2020). FITBIT acknowledges that what customers need the most is motivation.  Research shows that 73 percent of people who set fitness resolutions end up quitting before hitting their targets due to a lack of motivation (Ries, 2020). Amazingly, even individuals who are pros in the fitness industry still require lots of motivation to keep them going. Fitbit recognizes the diverse nature of its customers and intends to motivate all of them: Beginners, intermediate, and advanced (Adams, 2019). This motivation will be available to every customer via motivational speaking. FITBIT will employ various professionals to assist customers in the three categories listed above. People start and continue working out for several reasons. Some fight overweight, some are referred to workout by their healthcare physicians, some are into bodybuilding, and others simply need to keep fit and maintain their natural physique. Most people, therefore, understand the exact reasons why they work out, but they still require sufficient extrinsic motivation. In their distinct categories, FITBIT motivational speakers will facilitate customers on how to work out for the best results and motivate individuals to continue to work out and never give up. FITBIT intends to utilize this enhancement to ensure that all its customers do not back down until they witness and enjoy the fruits of their determinations (Soto-Vásquez, 2021).

 

 

Customer Needs and Wants

The number of people who have some form of activity watch that lets us know of an incoming call or text on our phones in the U.S. is currently at 91.54 percent (Turner, 2022).  In a study done by Pew Research Center, “roughly one-in-five U.S adults (21%) says they regularly wear a smartwatch or wearable fitness tracker” (Vogels, 2020). There are different why people have a difficult time staying fit or maintaining fitness, burnout, time, nutrition, motivation, etc. Motivation Fitbit targets those individuals who have a hard time staying motivated while trying to achieve fitness goals. Our product will not only provide motivation but also accountability and mental awareness.

Staying motivated can be a challenge. Making physical activity fun is a fantastic way to stay motivated. With the advanced features of Fitbit Motivation, customers will be encouraged to not only get started, but to keep going, and be inspired to reach their goals.

 

Features of Fitbit Motivation

One of the new features of Fitbit Motivation will be a bigger and wider monitor of a person’s overall health than just the normal heart rate and blood pressure. It will allow you to enter your food count for the day, like carbs, protein, fats, and any other liquids like water or Gatorade. So, if a user is trying to manage certain health habits or risks this feature can do it all in one. Another thing to consider with this new health monitor feature is you can send your health report to your doctor if you are due for a yearly check-up, and you can avoid setting up an appointment and taking time off from work.

Another new feature of this product is that it comes with a motivation coach/speaker. Everyone takes motivation differently and this feature will have three different level settings ranging from beginner, intermediate, and advanced. The beginner setting is typically for someone who is just starting their fitness journey. This motivational speaker will have a kind and gentle voice. The advanced setting could be for an athlete or someone at the competition level. This motivational speaker will have a military or drill sergeant’s voice. The feature will provide some examples of each range of motivation so they can choose which one works best for them. An example would be if someone chooses the “softest’ setting that could work for someone taking a slow walk in the park or trying to do yoga in their house without disturbing anyone else. For the most extreme feature, the customer would experience a louder voice with harsher quotes. Motivation Fitbit will assess the effectiveness of this feature by using comparative testing. We will provide our product to one hundred customers for free to evaluate Motivation Fitbit before launching the product. Our customers will provide feedback through a survey on the motivational speaker feature that will allow us to identify strengths and weaknesses. We want our product to be effective and accommodate our target audience’s needs.