A New Product for ASG
You practiced the 4 Ps of marketing in the learning activity. Now you will apply the first “P” of the marketing mix to one new product. In this assignment, you will create one new product item for a chosen ASG product line.
Describe one new product item that you will create for a chosen ASG product line.
Describe the market segmentation and target markets in terms of demographics, geographics, and behavioral segmentation or psychographics.
Explain the brand positioning for the product
Provide all the product qualities (i¢., the 1st of the 4 Ps), attributes, packaging, etc., that will be involved in line with the company’s mission and objectives.
Provide support for your reasoning.
Respond in a 1 to 2-page Word document (450-600 words minimum) in current APA format and citation style with additional title and reference pages (see the Unit 1 Reading area for APA assistance).
Unit 6 Assignment
Description of the new product
I have decided that Adaptive Sports Global (ASG) has to release a new kind of product that is environmentally sustainable in nature. ASG provides the circulation of sports goods and kits. The new kind of product that is going to be formulated by ASG is plastic-free apparel circulation. The circulation of plastic-free items can help to make the organization increase its brand value. It also helps to increase customer magnetization towards the organization. The enhancement of plastic-free apparel can be relinquished in nature.
Evaluation of the market segmentation
Marketing segmentation is the kind of framework that helps an organization classify its products and services based on the demands and needs of the customers. ASG has to release plastic-free apparel for general and sports facilitations as part of their sales dynamics. The market segmentation has four dimensions. These are demographic, geographic, firmographic, and behavioral. In the demographic dimension, ASG has to target the developed nations of Europe and America. In the geographic dimension, ASG has to target customers who are relevant in cold climates. In the firmographic dimension, ASG has to target the customers through the use of joint ventures and collaboration as it can help to rescue competitive rivalry. In the behavioral dimension, ASG has to target sophisticated customers who are of high class. Through this marketing segmentation, ASG can facilitate its new products based on plastic-free items that can be relinquished.
The use of brand positioning is the kind of enhancement of the organization through which products and services can be released with proper efficiency and benefits. Through brand positioning, the description of the target market and holistic picture can be perceived. I think in the enhancement of brand positioning ASG has to be pioneers in their executions which can help to reduce the competitive pressures (Kapextmediassl-a.akamaihd.net, 2021). I have formulated the brand slogan for the brand positioning of the ASG’s product which is plastic-free apparel and it is “Sustainability and Sophistication and directly proportional to each other”. Through this kind of brand, position ASG can stimulate its customers towards the organization.
Product objectives and organizational objectives
The use of the 4 Ps of marketing can help to classify the facts and features of the products and services. Through the use of 4ps, the durability of the products and services of ASG can be monitored. In this consideration, I am considering the Price of the 4ps. It is the most significant element. ASG has to provide circulation of plastic-free apparel and it needs expenses and efforts. For this purpose, the price will also be high. That’s why the sophisticated customers of high-class society will be targeted. The objective of ASG is to provide environmentally sustainable facilities (Kapextmediassl-a.akamaihd.net, 2021). This new product is parallel with the objectives and it can help to provide better executions.
The release of plastic-free products is the kind of product circulation that can increase the brand value of ASG. It can also make the customers of ASG to be attached. It will also provide the stakeholders of ASG with proper satisfaction.
Kapextmediassl-a.akamaihd.net (2021) Adaptive Sports Global (ASG) Corporation* , Retrieved from: https://kapextmediassl-a.akamaihd.net/business/MT450/1904c/ASG_general_background.pdf [Retrieved on: 16 December, 2021]
Kapextmediassl-a.akamaihd.net (2021) kapextmediassl-a.akamaihd.net, Retrieved from: https://kapextmediassl-a.akamaihd.net/business/Media/MT450/1904C/1/story_html5.html [Retrieved on: 16 December, 2021]