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Essay / Research Paper Abstract
5 pages. This is a marketing plan that will introduce a new product to consumers. Rainbow Plant Food is a revolutionary new plant growth product that also changes the color of the plant's foliage from green to whichever color food it is fed. The paper will show how a new product is introduced and marketed to consumers.
Page Count:
5 pages (~225 words per page)
File: D0_JGAplants.rtf
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Unformatted sample text from the term paper:
it to the market, such as the demographics, economics, etc. Also there is a product line review and marketing strategy on how best to market this new product.
PERCEIVED THREATS There are several things that could cause problems in the marketing of this new product and as such the company has perceived these possible problems and will take
steps to ensure they do not occur. The first and foremost threat is that the consumer will simply not be interested in the product. This will be dealt
with using aggressive marketing strategies and point of purchase ads with treated plants in large nationwide garden centers across the United States. By marketing Rainbow Plant Food aggressively it
is expected that the customer will make the purchase due to the constant product endorsement. This is known to work with big corporations as well such as McDonalds; becoming
the industry leader does not mean you have the best product; it means you have the best marketing. The second perceived threat is that the cost will be prohibitive.
While Rainbow Plant Food is not necessarily all that expensive, it is still more expensive than other plant fertilizers. This of course will be dealt with in the above
marketing strategy. Not only will Rainbow Plant Food color the foliage but also at the same time it feeds the plant a healthy balance of nutrients. This will
be pointed out in the marketing schematics. The third possible problem is that there will be copycat products developed as soon as Rainbow Plant Food hits the market. The
only way to contend with this is to offer better marketing strategies as well as a better product. Perhaps combining a money back guarantee or special discount promotions Rainbow
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