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Scenario: In Week 3, you selected a pr


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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

 

Student Name

 

Course title

 

Professor Name

 

University Name

 

September 06, 2016 1 MEC PLANNING A NEW PRODUCT LAUNCH 2 MEC PLANNING A NEW PRODUCT LAUNCH

 

OVERVIEW

 

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

 

PRODUCT

 

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

 

numbers[Aak10].

 

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

 

the world.

 

BE CONSISTENT

 

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.

 

SHARE FREELY

 

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

 

by company.

 

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

 

service[Bov10].

 

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.

 

Pearson Education.

 

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

 

Elgar Publishing.

 


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