Part I is attached
Scenario: In Week 3, you selected a product or service that you believe your organization should invest capital resources to develop the product or service for sale. To speed up the new product investment, you decide to write a memo proposing and advocating for the launch of a new product or service to the company president.
Create a memo proposal using the AIDA model in a Microsoft® Word in a minimum of 1,400 words. You will add an introduction and conclusion, and your paper will include the following components:
- Convince your audience to invest capital resources to develop the product or service you intend to sell and explain your rationale. See Figure 9.5 - Persuasive Message Using AIDA model.
- Gain credibility (for yourself and your request) and (2) to make your readers believe that helping your product/service will indeed benefit the company. Close with a request for some specific action, and make that course of action as easy to follow as possible to maximize the chances of a positive response.
- Include secondary research to support your argument, related to your product and/or service.
- Explain what you will do in case the selected product or service does not initially sell as much as expected.
- Indicate potential digital channels for marketing your product or service.
- Consider cross-cultural and multinational implications.
Note: Main points from this memo will be included in the Week 5 Persuasive Presentation.
The following guidelines will help you effectively format specific memo elements, Business Communication Essentials, 7/e (Pg. 410):
- Addressees. When sending a memo to a long list of people, include the notation See distribution list or See below in the position at the top; then list the names at the end of the memo. Arrange this list alphabetically, except when high-ranking officials deserve more prominent placement. You can also address memos to groups of people--All Sales Representatives, Production Group, New Product Team.
- Courtesy titles. You need not use courtesy titles anywhere in a memo; first initials and last names, first names, or even initials alone are often sufficient. However, use a courtesy title if you would use one in a face-to-face encounter with the person.
- Subject line. The subject line of a memo helps busy colleagues quickly find out what your memo is about, so take care to make it concise and compelling.
- Body. Start the body of the memo on the second or third line below the heading. Like the body of a letter, it's usually single-spaced with blank lines between paragraphs. Indenting paragraphs is optional. Handle lists, important passages, and subheadings as you do in letters.
- Writer's initials. Unlike a letter, a memo doesn't require a complimentary close or a signature, because your name is already prominent at the top. However, you may initial the memo--either beside the name appearing at the top of the memo or at the bottom of the memo.
Format consistent with APA guidelines.
Running head: PLANNING A NEW PRODUCT LAUNCH MEC PLANNING A NEW PRODUCT LAUNCH
September 06, 2016 1 MEC PLANNING A NEW PRODUCT LAUNCH 2 MEC PLANNING A NEW PRODUCT LAUNCH
As a commerce and as individuals an ecommerce company named, MEC Corporation
function with honesty and indicate respect for one another and the surroundings. For above
40 years, MEC have been visualizing large and signifying the finest of what commerce can
be. Offering the new product line benefits are improved product constancy, amplified profit
restrictions, augmented sales and management in the marketplace. Therefore, MEC offers to
show the market to supply the online product line that comes under a specific action category
to rule the customers of the target objective. Organization need to invest monetary capital
resources and determine a new product line service launch to increase the sale of company
service to the worldwide environment.
PRODUCTS AND ITS CHARACTERISTICS
MEC will need to announce an investment in some kind of different product, the
advanced Spree watch, by means of extensive advertising, penetration pricing and extended
distribution in mandate to rise the company incomes and progress level[Fer101]. MEC
through its new and different product line ?Wrist Watches? named by Spree in the Run
category will be launched in the market for the achievement of these goals stated as
marketing objectives for the company. These are the following business characteristics that
MEC will need to achieve with the efficiency and target audience review and
feedback[Cun131]. The blend of a cost-effective and unique design permits us to form a three percentage
(3%) marketplace share in the primary year. The Spree watch scheme will break even
level in 2015. MEC PLANNING A NEW PRODUCT LAUNCH 3 Market portion of three percentage of the proprietary fashion wristwatch marketplace in the primary year [transactions of above 8 million U.S dollars].
Project breakdown even tiredly in 2016[Fer101]. PRODUCT CHARACTERISTICS
MEC will familiarize about 30 to 40 different designs in the primary year. One sector
of these all will have a "metallic" case, replicating numerous of the old-style and modern
metallic designs. These are directed and being targeted at customers 25 and above. MEC will
project a series comprising approved characters as well as uncommon shapes for the
marketplace section under 24 years of market age. Swatch does not have exclusive licensing
for Warner Brothers and Disney Coke and characters. By utilizing these and additional MEC
will have a diversity of product and attractiveness designs in its product line? The most
uncommon feature of the MEC product line will be round about very uncommon shapes.
Numerous of these will be hexagon, geometric; oval, trapezoid, in addition to diamond. For
newer ages or periods GEC technology permits the outline and design of wristwatches in the
outlines of cartoon-based character looks[Aak10].
WORTH OF THE NEW PRODUCT
The Spree watch will be wholesaled for a recommended retail expense of $45. MEC
have confidence in that MEC have given product superiority and feature benefits, inspiring
the practice of a price marginally surpassing Swatch. This company?s pricing approach,
joined with our well-organized production approaches, helps in attaining our comparatively
high marketplace share for a novel product line entry. Hence, this make the product quite
worthy to procure at economic rate.
TARGET AUDIENCE PROFILE MEC PLANNING A NEW PRODUCT LAUNCH 4 The target marketplace for MEC Wrist Watches products is lively consumers amid the
ages of 25 and 45 years old like individuals who like to run, rock climb, hike, surf, figure
skate, bicycle, ride horses, snowboard or ski, in-line skate, kayak, and additional such actions.
In small, they like to ?Go Show Outdoor.? These target people may not be specialists at the
game they involve in, however these adore themselves outdoors. The wrist watches as a new
product line gives MEC consumers a wide variety of premium wrist watches. These new
product offers the target athletes, young generation bikers, cyclers, climbers and other
common users a value for money experience in both qualitative and quantitative aspects. For
example, wrist watch help runners, athletes and cyclers to assess the time count while
exercising and help them in estimating the time at any point of time while they are actively
participated in the race. The joggers, racers and other consumers have benefit of the new
product in form of wrist watches by seeing the time at any instant and make the best of them
to observe the right time while exercising and travelling from one place to another. The new
product by MEC provides several benefits that fit into the target audience applications. The
product hit hard on the mind to explore the new product line efficiently in more
These active customers characterize a demographic collection of successful and welleducated individuals; they are married or single and educating families. Household revenues
usually range amid $60.000 as well as $120,000 per annum. In spite of their relaxed profits,
these customers are price sensible and constantly pursue price in their procurements.
Irrespective of their specific age or period (whether they drop at the lower or upper end of the
objective assortment), they clue energetic and dynamic lifestyles. They are rather status
concerned with on the other hand not excessively so. Buyer similar to be related with
superior products however are not enthusiastic to recompense a best price for a definite
brand. Existing MEC Wrist Watches consumers be likely to reside or alive in the South, MEC PLANNING A NEW PRODUCT LAUNCH 5 northern New England, the Northwest and the California. But, unique future objective is to
target customers in the Southwest nations and Mid-Atlantic States as well[Sha12].
ESTABLISHING THE CREDIBILITY OF THE PRODUCT
One of the most significant issues when it originates to establishing your new product
is developing credibility ? in your commerce, with your predictions, and with your clients or
customers. MEC Business will execute effective measures and ways to maintain and establish
the trustworthiness and credibility of the new product by applying the following approaches
with its intended audience that will upsurge the sale to the global wrist watch market around
So as to establish the framework for a reliable experience, ensure that your message is
predictable and helpful for the audience for which you are going to invest in new product.
This applies to your site content, your online networking posts, the look and feel of your
webpage, and each discussion that you have with a client or prospect.
FOCUS ON YOURSELF, NOT ON YOUR COMPETITION
Frankly, in my whole vocation, working for a few associations, I have never obtained
anything from somebody who attempted to insult their opposition. On the off chance that
your item, your organization, and your administrations are insufficient to give you an upper
hand, why might I purchase from you? This will make the new product more predictable,
useful, and reliable and help to develop the credibility of the branded product.
JUST BE HONEST MEC PLANNING A NEW PRODUCT LAUNCH 6 Yes, it?s a formula however it?s for the reason that it?s right. ?Honesty is the best
policy?. Credibility is appealing twofold, hence even not being authentic and truthful just the
once can have a noteworthy undesirable impact of the new product.
Your audience desires to see that you at all times strive to deliver worth to them and
are not disinterested laser-focused on endorsing your product that will be invested to launch
APPROPRIATE CHANNEL FOR DELIVERING YOUR MESSAGE BASED ON
CONTEXT, AUDIENCE, AND PURPOSE
Customers will not recognize our product; consequently, MEC will require to
advertise extra aggressively to accomplish brand or new product consciousness. Therefore,
use channels like E-mail or short messages, advertisements, on Social Media like as Twitter
or Facebook to communicate an unpretentious message regarding new product
announcement. Therefore, we recommend you to select advertisement online as
communication channel that will serve the purpose to offer new product message to the
intended audience, product context and its main purpose of launching this product or
RATIONALE FOR CHOOSING THE CHANNEL
We believe that Advertisements on the web and website of the company, through
social media platforms like Twitter or other can be justifiable and suitable channel for the
company requirements to address the message of new product. The channel is chosen as it is
interactive in nature that covers the in-depth knowledge provided to the audience about the
product, its value and characteristics. It permits and helpful in obtaining feedback or observe
the customer?s opinions way better through such reliable communication channel. Hence, we MEC PLANNING A NEW PRODUCT LAUNCH
select advertisement as an appropriate medium or channel according to the target people,
context of the product respectively[MKS08]. 7 MEC PLANNING A NEW PRODUCT LAUNCH 8 Works Cited
Cunning, P., Armstrong, G., R. Kotler, P., & Trifts, V. (2013). Principles of Marketing.
Aaker, D. A., & Damien McLoughlin. (2010). Strategic Market Management: Global
Perspectives. John Wiley and Sons.
Bovée, C. L., & Thill, J. V. (2010). Business Communication Essentials. Pearson Education.
Ferrell, O. C., & Hartline, M. (2010). Marketing Strategy. Cengage Learning.
Sehgal, M. K. (2008). Business Communication. Excel Books India.
Shankar, V., Farley, J., & Carpenter, G. (2012). Handbook of Marketing Strategy. Edward
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