Product Launch Marketing Plan

Product Launch Marketing Plan
Student:
Professor:
Course title:
Date:
Product Launch Marketing Plan
SWOT analysis
A SWOT analysis is an integral strategic method for assessing the threats, opportunities, weaknesses, and strengths involved in a business startup or business venture (Simon, 2013). For the product line that my team is focusing on, the SWOT analysis is as follows:
StrengthWeaknessProduct is unique in the market as it has much functionality.
Superior personnel
Cost advantage from proprietary expertise
The team/startup has little overhead hence the it may provide good value to customers
The startup company can change direction very fast if we learn that our market is not workingFew staff members and they have a shallow skill base in several areas
Lack of access to the main channels of distribution
High cost structure
Our cash flow will not be reliable during the initial stages
Startup company does not have reputation or market presence
Lack of patent protectionOpportunityThreatAn unfilled customer need
Our business sector is growing and there are lots of future opportunities for success
Technological change
Market segment is growing
Competitors might be slow to embrace new technologiesMain competitor Fitbit has firmly established itself in the market
Technological changes which threaten to make the product obsolete in a few years
Product potential competition
The main potential competition is Fitbit. The team is focusing on a product line similar to a Fitbit/USB bracelet. As a private startup, Fitbit makes wireless-enab...