REASONING: Because we know the purpose of the product is for functionality, we have to keep our focus on that. Quality, durable products are attractive to this market, and marathoners are willing to pay premium prices to get the latest tech. Workouts often include long distance runs. Marathon Madness: This mid-size market works out daily. c) Marathon Madness: This mid-size market works out daily. Weekend warriors typically purchase mid-level shoes and apparel and use a fitness app on their phone to track their workouts. b) Weekend Warriors: This large market works out 2-3 times a week and mixes up running with gym time. Gym newbies work out once a week and are price sensitive about their fitness spending. Your boss agrees with your analysis and recommendation: "Now we need to identify the type of customer that would benefit the most from our product offerings." "Assuming that we focus on the desire for fitness technology functionality, what market do you think would benefit most from our offerings?" a) Gym Newbie: This largest market is new to fitness and working out. You report back to your boss that you plan to focus on the desire for functionality. Keys to our successful product launch and profitability are creating customer value and developing loyal customers." Powerfully Fit needs to break through the clutter to grab the consumer's attention. Your focus should be on making recommendations where customer value can be created and firm goals achieved." "The fitness technology industry is full of well-established competitors. The research and development investment was significant therefore, Powerfully Fit's products will be priced higher than the competition's products, which lack the ability to generate power." Your boss explains: "Your job is to evaluate the market for fitness technology to uncover opportunities for our new products. Powerfully Fit's motion-powered innovations include a highly flexible, moisture-wicking fabric that generates and stores energy within the material and a line of fitness trackers with integrated nano generators. The VP of Marketing tells you about Powerfully Fit's new products: "Powerfully Fit uses proprietary, cutting-edge nanotechnology to generate power from human motion. Your boss, the VP of Marketing, has been highly involved in the new product development process and has hired you as the Marketing Manager responsible for a successful launch. SCENARIO Fitness industry startup Powerfully Fit is ready to launch two new products - a power-generating workout shirt available in two styles and three colors and one self-charging fitness tracker - available for men and women.
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