Marketing Research Paper
Autor: wadd_ez • January 15, 2017 • Research Paper • 695 Words (3 Pages) • 857 Views
Marketing Research Report
Introduction
Innovation is the act or process of introducing new ideas, devices, or methods. Here at Nike they take innovation very very serious. They take innovation so serious that they hiring innovation experts that all they do is think of ways to become a more innovative company and because of this effort they are one of the most innovative companies in the world. They even go as far as to hold an innovation event every year where they highlight their new products. This go around they had a big surprise for everyone. They unveiled a new product, a blue tooth sweat band.
Description of Target Market
In order to figure out our target market for our new product we first need to define our basic demographics. Our basic demographics are age, location, gender, and income. The age group that we are trying to reach is very wide. We are looking to reach people from age 16 to about 40 years of age. As far as location this really doesn’t apply because we are selling in all locations across the globe. We think this product will be great for both genders and as well it will be cost effective so any income home will be able to afford one. So our core market will be both males and females ages 16 to 40.
Product: **Name of Product**
When naming our product, we could have gone in many different directions. Naming things is hard. When you name something, it anchors it in people’s minds; the name and the thing are then forever connected. It creates brand recognition. There are a few rules I mulled over when trying to come up with the right name for the product. The most important rule for me was to come up with something simple. Although I wanted it to be simple I also wanted it to be catchy so I could attract attention for the product. The name I came up with is the Nike Blue band. Simple because it is a Bluetooth band.
Market Research Questions
Develop at least one question for each characteristic of the target market (demographic, geographic, psychographic, and behavioral)
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