This research develops a marketing plan for a new product. The plan is presented in three major sections, as follows: (1) product analysis; (2) market analysis; and (3) strategy analy sis.
The product which is the subject of this plan is the digital audio tape (DAT) recorder. While the product is not new in an absolute sense, it has not yet been widely marketedin the United States (US).
The principal core benefit of the DAT recorder is superior audio reproduction. The audio reproduction quality of the DAT recorder is held to be superior even to that of the compact disc (CD). A second core benefit of the DAT recorder its abil ity to record, as well as to reproduce sound. A third core benefit of the DAT recorder is prestige of ownership.
The DAT recorder records audio impulses with essentially no added noise or distortion. The DAT recorder reproduces audio impulses with the same noise and distortion free
1 2characteristics. The principal differences between the DAT recorder and CD players are that (1) tape is the medium in the DAT recorder, as opposed to disc in the CD, (2) recording, as well as playback, is possible with the DAT recorder, where only playback is possible with the CD, and (3) audio reporduc tion quality in the DAT recorder is superior to that in the CD.1
The augumented product of the DAT recorder includes a base price which is significantly higher than that of the CD. For the augumented product, however, the same channel distribution will be used as is used for other audio products. Similarly, advertising and promotion activities for the DAT recorder will closely parallel those for the CD.
Four aspects of market analysis are covered in this sec tion. These aspects are (1) market definition, (2) target mar ket profile, (3) substitute products, and (4) uncontrollable factors.
The starting point in the consideration of any element of marketing process lies in human needs and wants. T...