Mrkt 100 Product Reassessment - Essay by Westry1



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Mrkt 100 Product Reassessment Essay

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Assignment 2: Product Reassessment

Professor Kelly
MKT100093VA012-1132-001: Principles of Marketing I
Winter 2013
March 10, 2013

Using the product or service you chose in Assignment 1, provide a plan to reposition this product or service to a new target market. Remember this could mean a new use for the product or service you have chosen.

1. Discuss this product in terms of its repositioned target market demographics using U.S. Census Data.

My new target market for floppy disk would be museums specifically electronic museums. There are a few electronic museums worldwide and they could use these floppy’s’ for props and educational purposes. These museums promote and encourage the study of science and engineering using electronic heritage to educate and inspire students and the public. Electronic museums collects, preserves, exhibits, and makes available for research various artifacts, documents, and publications related to development of defense and other key electronics systems and the commercial products derived from them. Each museum provides visitors with an appreciation of the evolutionary milestones in electronics that led to the sophisticated products in use today, and honor the achievements of the pioneers who made these advancements possible. This target market would find the floppy disk very useful.

2. Determine the types of research needed to reposition this product or service.

I would use secondary data while researching my product for repositioning mainly because the floppy’s are going to be used for educational purposes and will not be used for something new. Secondary research uses outside information assembled by government agencies, industry and trade associations, labor unions, media sources, chambers of commerce, and so on. It's usually published in pamphlets, newsletters, trade publications, magazines, and newspapers. The information on floppy’s is readily accessible and fairly cheap to get,...

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