New Product Launch Marketing Plan, Part II Essay

Words: 1867
Pages: 8

New Product Launch Marketing Plan, Part II
MKT/571
September 16, 2013
New Product Launch Marketing Plan, Part II
The following is the second part to the iNKtopia product launch plan. The second part of the marketing plan consists of a detailed target market profile, including buying behaviors, decision motivators, and organizational target markets. The plan also includes steps to manage each stage of the product life cycle and tactical plans for the Four P’s. Finally, the second part of the marketing plan expands on the product offering expressed in part one and a new position statement to drive iNKtopia’s positioning strategy.
Market Profile
The defined target market profile of the consumer group that the company needs
…show more content…
The company can then focus advertisements on superior customer service and environmental benefits of purchasing product from the iNKtopia.
Decline Phase
The decline phase is “when sales show a downward drift and profits erode” (Kotler & Keller, 2012, p. 310). Demand for iNKtopia products will in the long run diminish as newer technologies change how documents are viewed. From this time, iNKtopia is limited on options because ink may no longer be the primary source for document printing. INKtopia will have the choice to keep the product and sell it at greatly lower price or to terminate the product and transition to the new printing source. In this specific industry if ink is phased out there is really no way to continue increasing sales because finding a new use for ink is unlikely. It would be ideal to focus on the innovation that technology brings and ultimately move away from ink. The company can focus promotion on other products and services that the company may offer.
Product Mix The iNKtopia product mix consists of several different products and services. Figure 1 below shows the width and length of the iNKtopia poduct mix.

Figure 1. Product Mix Width and Length for iNKtopia.
Cartridge Refills
Features: High quality ink for the top 10 printer companies in the world. iNKtopia can refill the existing cartridge within 24 hours of drop-off. In most cases, a replacement cartridge will be given as a complimentary service to customers.
Benefits: Fast