Marketing Report 03

Being a new product, it seems I would have to keep in mind how creative I could be when it comes to marketing it. “Creativity is the wellspring of new-product ideas, regardless of who comes up with them. A variety of approaches and techniques have been developed to stimulate creative thinking.” (MKTG, Lamb, p. 148). This seemed to have presented many doors to go through and decide upon how the advertising and marketing would go. Again, I wanted to make the consumers the main focus of the product and how it could help them and be of great benefit. Utilizing an ad campaign that would demonstrate how the product could benefit the consumer seemed like the best of choices. Again, with it being a new product, it seemed like I had to keep in mind that “Promotion strategy in the introductory stage focuses on developing product awareness and informing consumers about the product category’s potential benefits.” (MKTG, Lamb, p. 155). I really needed to be sure to let others know about the potential benefits while introducing such a product. A pocket-sized source of Energy supplements without the hazard or worry of spilling onto equipment seemed like enough potential benefit in itself. Along with that, I also had to keep in mind “Promotional strategy is a plan for the optimal use of the elements of promotion: advertising, public relations, personal selling, and sales promotion.” (MKTG, Lamb, p. 211).