Your company has decided to launch a new line of products.Create a 1,400-word report and include the following information:Choose the target market for your product, and describe your target market in detail.Create a new product that would appeal to your market.Develop at least one question for each characteristic of the target market (demographic, geographic, psychographic, and behavioral) that will be important for you as you determine the marketing strategy for this new product.Recommend the best methods of conducting marketing research to answer these questions. Be sure to include why you chose these particular methods.Outline the steps you will take to bring your product to market from idea generation to commercialization, using a multi-step product development process. Format your assignment consistent with APA guidelines.
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Elements of a Marketing Plan Report
Gabriel McKnight
MKT/421
March 23, 2017
Mr. Gary Connelly
2
Elements of a Marketing Plan Report
Key environment forces that created an opportunity for Organogold international was the
rise of Starbucks and the success for McDonald’s Mc Cafe. Starbucks made it cool to drink
coffee. Coffee houses begin to popup on every street corner. The remake of your parent’s coffee
into a cool hip sugar filled beverage began to fill the hands of all types of people and all age
groups as well.
Changes in Purchase patterns
The biggest change in the purchase pattern of coffee drinkers is the amount they were
willing to pay for their favorite coffee infused beverage. Consumers where not only getting a cup
of java at five in the morning to wake up on the way to work, kids where getting fruity coffee
beverages on the way to school and during lunch. Suddenly people were getting cups of coffee on
the way home or after school, on their way to study hall, or just while utilizing wifi and the
neighborhood coffee house to check their social media pages. The world and things around the
consumer was changing but the one consistent thing was not only coffee, but the value of its
bean.
Identifying Key trends
Starbucks made it socially acceptable to pay five bucks for a cup of coffee. Coffee now
appealed to every audience. Organo Gold with a superior product at a fraction of the cost began
to make its mark in the coffee industry. Economically Organo Gold or (OG) as it is often called
gave the average individual the economic power and opportunity of owning their own
international coffee company without any of the overhead you would see in a traditional brick
and mortar store. Without the insurance, employees, and utility cost of a store front individual
had the opportunity to earn more than your average Starbucks monthly. OG maximized
3
technology by allowing individuals to manage their coffee company from a computer with a
website and back office software that allowed you to manage orders and even utilize e-commerce
from any computer or smartphone in the world. OG had a competitive advantage in that it had a
great variety of coffees that had a health component to them. This competitive advantage allowed
OG to flourish because of the patented process it used to infuse all its beverages with ganoderma
also known as the red reishi mushroom. OG had no regulatory issues with fair trade coffee and
organic ganoderma. Some of the biggest trends that OG capitalizes on and will continue to help
them flourish in the future is the fact that a clear majority of Americans are now focusing on
health and trying holistic and organic remedies instead of traditional medicine, these trends will
continue to influence OG’s marketing efforts couple with an economy that does not provide
consistent jobs that can support a dreamer’s dream having a home-based business has become
extremely popular. The boom of social media is another trend that will allow Organo Gold to
continue to compete with the large companies without an advertising budget because social
media as made it so easy to advertise. With one post and a few retweets millions can hear about
their product without them spending a dime.
The Target Market
A superior product at a great price will continue to be one of the strategies they use to be a
top company in its industry. The personal development and passion of the leadership is often
what makes individual join the company or use the product over other companies and similar
products. OG values its distributors and partners in the world of network marketing. Per its
Executive Vice President of International Sales Holton Buggs,” It will be you who takes this
product sample by sample, to the People of the World. It will be you who helps us capture 1% of
the global coffee market. It will be you who makes OG the most admired company in the world.
4
So, when someone ask what the difference is in your company and theirs tell them it is You.”
(Gold pg 11)
Learning from the Geek Squad
One lesson that OG can learn from the Geek Squad is partnerships. To evolve with the
times the Geek Squad partnered with Ford to assist in the technological advances of solar and
electric vehicles, by using their technical skills to assist customers in installing and setting up
charge stations for their electric cars. In this manner OG can partner with companies that could
not only assist in its sell of products but can merge networks to reach more individual in the
quest to capture 1% of the coffee market and become a billion-dollar company.
5
Reference
Buggs, H., Morand, S., & Chua, B. (2013, October). message From the Executive Vice President
of International Sales. The Gold Standard in Network Marketing, (), 11
1
Elements of a Marketing Plan Report
MKT/421
2
Elements of a Marketing Plan Report
Key environment forces that created an opportunity for Organogold international was the
rise of Starbucks and the success for McDonald’s Mc Cafe. Starbucks made it cool to drink
coffee. Coffee houses begin to popup on every street corner. The remake of your parent’s coffee
into a cool hip sugar filled beverage began to fill the hands of all types of people and all age
groups as well.
Changes in Purchase patterns
The biggest change in the purchase pattern of coffee drinkers is the amount they were
willing to pay for their favorite coffee infused beverage. Consumers where not only getting a cup
of java at five in the morning to wake up on the way to work, kids where getting fruity coffee
beverages on the way to school and during lunch. Suddenly people were getting cups of coffee on
the way home or after school, on their way to study hall, or just while utilizing wifi and the
neighborhood coffee house to check their social media pages. The world and things around the
consumer was changing but the one consistent thing was not only coffee, but the value of its
bean.
Identifying Key trends
Starbucks made it socially acceptable to pay five bucks for a cup of coffee. Coffee now
appealed to every audience. Organo Gold with a superior product at a fraction of the cost began
to make its mark in the coffee industry. Economically Organo Gold or (OG) as it is often called
gave the average individual the economic power and opportunity of owning their own
international coffee company without any of the overhead you would see in a traditional brick
and mortar store. Without the insurance, employees, and utility cost of a store front individual
had the opportunity to earn more than your average Starbucks monthly. OG maximized
3
technology by allowing individuals to manage their coffee company from a computer with a
website and back office software that allowed you to manage orders and even utilize e-commerce
from any computer or smartphone in the world. OG had a competitive advantage in that it had a
great variety of coffees that had a health component to them. This competitive advantage allowed
OG to flourish because of the patented process it used to infuse all its beverages with ganoderma
also known as the red reishi mushroom. OG had no regulatory issues with fair trade coffee and
organic ganoderma. Some of the biggest trends that OG capitalizes on and will continue to help
them flourish in the future is the fact that a clear majority of Americans are now focusing on
health and trying holistic and organic remedies instead of traditional medicine, these trends will
continue to influence OG’s marketing efforts couple with an economy that does not provide
consistent jobs that can support a dreamer’s dream having a home-based business has become
extremely popular. The boom of social media is another trend that will allow Organo Gold to
continue to compete with the large companies without an advertising budget because social
media as made it so easy to advertise. With one post and a few retweets millions can hear about
their product without them spending a dime.
The Target Market
A superior product at a great price will continue to be one of the strategies they use to be a
top company in its industry. The personal development and passion of the leadership is often
what makes individual join the company or use the product over other companies and similar
products. OG values its distributors and partners in the world of network marketing. Per its
Executive Vice President of International Sales Holton Buggs,” It will be you who takes this
product sample by sample, to the People of the World. It will be you who helps us capture 1% of
the global coffee market. It will be you who makes OG the most admired company in the world.
4
So, when someone ask what the difference is in your company and theirs tell them it is You.”
(Gold pg 11)
Learning from the Geek Squad
One lesson that OG can learn from the Geek Squad is partnerships. To evolve with the
times the Geek Squad partnered with Ford to assist in the technological advances of solar and
electric vehicles, by using their technical skills to assist customers in installing and setting up
charge stations for their electric cars. In this manner OG can partner with companies that could
not only assist in its sell of products but can merge networks to reach more individual in the
quest to capture 1% of the coffee market and become a billion-dollar company.
5
Reference
Buggs, H., Morand, S., & Chua, B. (2013, October). message From the Executive Vice President
of International Sales. The Gold Standard in Network Marketing, (), 11
…
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