Introduction – In this task, I am going to develop a coherent marketing
mix for a new product or service. Also, I am going to develop a coherent
marketing mix that is targeted at a defined group of potential customers.
Product – Watch Phone
Product – This product is a watch and a mobile phone. You can use it as a
watch or a mobile phone. It is a smart watch phone, a watch phone is
designed to answer people’s phone call while at the same time you can
use it to tell the time as it’s a watch as well. The watch and the mobile
phone are connected together as its 2 in 1. The target market for the
watch phone is aimed at young adults who are aged 18 – 25. This is
because it is a new technology device made especially for them for
entertainment and social purposes as the older generation might not have
the knowledge to use this device. The young generation are more
fascinated with this type of new technology. They will not hesitate to
spend more money on this product. This product will appeal to my target
market because it will have a wide range of features. The watch phone will
be voice activated. This means that when you make a phone call, its voice
activated. You just have to say that person’s name, for example ‘dial
peter’ which will dial from voice activated. It also will be linked to the blue
tooth headphone. If you get a call, you answer with blue tooth. You can
use this watch phone as an mp3 player, its touch screen, can be used for
web surfing and have Wi-Fi internet connection. The older generation
won’t buy this product as they tend to look for more basic technology so
they can save money as well as making it easier to use for them because
they are not used to using or having so many features in the watch phone
so they might find it complicated. This is why it’s aimed at young adults as
this watch phone can help them to socialise and have a wide range of
features to make the watch phone sensational.
, Price – The price of this product should be £400. This is because it’s a
new technology device that connects to the watch so people will pay for
this price as nowadays it’s a trend in fashion. People like to show-off with
expensive goods so there is a big market for it like the IPhone so it will sell
really well. This is because it’s a new technology device so it costs more to
develop. Eventually, when time passes, cheaper materials will be
available so the price will become go down as well. Right now £400 is
based on the smartphones currently selling in the business market such
as the IPhone, Samsung Galaxy which is based around £400 price range.
Place - It should be sold in mobile phone stores such as Carphone
Warehouse, o2 and Phones 4 u. It will also have its own dedicated website.
The place of my product appeals to my target market because right now
the popular products such as the IPhone are sold in most of the mobile
phone stores. This means that if the new watch phone device was sold in
one of the mobile phone stores, the product will become famous and well
known so people would want to buy it. Also, the mobile phone stores are
very successful at the moment as they provide customers with new
technology within time. Having the watch phone in the mobile phone
stores will not only make the product popular but make the mobile phone
stores business successful and give them a new technology device to sell
that will make the customers happy. Nevertheless, it’s a mobile phone
store which means that new technology, devices and accessories can be
sold so the mobile phone stores is a perfect place to sell this watch phone
product. The watch phone will also have a dedicated website where it tells
you everything about the product, features, etc. This website will appeal
to my target market because you can visit it anytime as its open 24 hours,
faster service, easy to access, gain more knowledge about watch phones,
see the latest offers and deals online.
Promotion – It should be promoted through advertising this product. The
advertisement that is suitable and best for this would be TV commercials
and the Internet. The promotion method I have chosen is TV
Commercials/advertisement and the Internet which would appeal to my
target market group. TV Commercials/advertisement would appeal to my
target market group because people nowadays in the world have a TV.
They can watch the advertisement on their TV screens and smartphones
so the advertisement is available everywhere therefore this is the best
media for this target audience. TV Commercials/advertisements can reach
a wider and larger audience. It can communicate with the audience
effectively by gaining attention as well as create awareness of the
product/service. It’s appealing through its multi senses through its range
of images, motion, sound and texts. The internet would appeal to my
target market group because online advertising is increasing as well as its
mix for a new product or service. Also, I am going to develop a coherent
marketing mix that is targeted at a defined group of potential customers.
Product – Watch Phone
Product – This product is a watch and a mobile phone. You can use it as a
watch or a mobile phone. It is a smart watch phone, a watch phone is
designed to answer people’s phone call while at the same time you can
use it to tell the time as it’s a watch as well. The watch and the mobile
phone are connected together as its 2 in 1. The target market for the
watch phone is aimed at young adults who are aged 18 – 25. This is
because it is a new technology device made especially for them for
entertainment and social purposes as the older generation might not have
the knowledge to use this device. The young generation are more
fascinated with this type of new technology. They will not hesitate to
spend more money on this product. This product will appeal to my target
market because it will have a wide range of features. The watch phone will
be voice activated. This means that when you make a phone call, its voice
activated. You just have to say that person’s name, for example ‘dial
peter’ which will dial from voice activated. It also will be linked to the blue
tooth headphone. If you get a call, you answer with blue tooth. You can
use this watch phone as an mp3 player, its touch screen, can be used for
web surfing and have Wi-Fi internet connection. The older generation
won’t buy this product as they tend to look for more basic technology so
they can save money as well as making it easier to use for them because
they are not used to using or having so many features in the watch phone
so they might find it complicated. This is why it’s aimed at young adults as
this watch phone can help them to socialise and have a wide range of
features to make the watch phone sensational.
, Price – The price of this product should be £400. This is because it’s a
new technology device that connects to the watch so people will pay for
this price as nowadays it’s a trend in fashion. People like to show-off with
expensive goods so there is a big market for it like the IPhone so it will sell
really well. This is because it’s a new technology device so it costs more to
develop. Eventually, when time passes, cheaper materials will be
available so the price will become go down as well. Right now £400 is
based on the smartphones currently selling in the business market such
as the IPhone, Samsung Galaxy which is based around £400 price range.
Place - It should be sold in mobile phone stores such as Carphone
Warehouse, o2 and Phones 4 u. It will also have its own dedicated website.
The place of my product appeals to my target market because right now
the popular products such as the IPhone are sold in most of the mobile
phone stores. This means that if the new watch phone device was sold in
one of the mobile phone stores, the product will become famous and well
known so people would want to buy it. Also, the mobile phone stores are
very successful at the moment as they provide customers with new
technology within time. Having the watch phone in the mobile phone
stores will not only make the product popular but make the mobile phone
stores business successful and give them a new technology device to sell
that will make the customers happy. Nevertheless, it’s a mobile phone
store which means that new technology, devices and accessories can be
sold so the mobile phone stores is a perfect place to sell this watch phone
product. The watch phone will also have a dedicated website where it tells
you everything about the product, features, etc. This website will appeal
to my target market because you can visit it anytime as its open 24 hours,
faster service, easy to access, gain more knowledge about watch phones,
see the latest offers and deals online.
Promotion – It should be promoted through advertising this product. The
advertisement that is suitable and best for this would be TV commercials
and the Internet. The promotion method I have chosen is TV
Commercials/advertisement and the Internet which would appeal to my
target market group. TV Commercials/advertisement would appeal to my
target market group because people nowadays in the world have a TV.
They can watch the advertisement on their TV screens and smartphones
so the advertisement is available everywhere therefore this is the best
media for this target audience. TV Commercials/advertisements can reach
a wider and larger audience. It can communicate with the audience
effectively by gaining attention as well as create awareness of the
product/service. It’s appealing through its multi senses through its range
of images, motion, sound and texts. The internet would appeal to my
target market group because online advertising is increasing as well as its
