Marketing Plan: Phase IV

Essay by TDMiller98University, Bachelor'sA+, February 2007

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Drive Alert Introduction

Within the next seven years, 70 million Americans will become retirement age. As the aging process progresses, a development of low vision and other visual disabilities hinders driving performance. Adding the global numbers of aging drivers and the world may see well over hundreds of millions of drivers with poor eyesight. Phase I of our marketing plan incorporated seniors as a target group. Reflecting societies wants and needs help with new discoveries. "The 65-and-over crowd alone numbers 35 million, more than 12 percent of the population. Mature consumers are better off financially than are younger consumer groups," (Kotler, 2005). Kotler goes on to write about Abraham Maslow's theory of hierarchy, (Kotler, 2004), "Why does one person spend so much time and energy on personal safety and another on gaining the esteem of others? They include physiological needs, safety needs, social needs, esteem needs, and self-actualization needs."

Drive Alert is a new product assisting drivers of all ages with poor eyesight to navigate automobiles with enhanced safety features.

Drive Alert is revolutionary for its time and will require proper marketing plans to ensure success. To recap Phase I of Learning Team A's, (LTA), marketing plan included: introduction of new product, explanation and features of product, and the marketing approach. eMagin, Incorporated, (2007), is a global company specializing in visual aids for gaming organizations and other uses requiring advance technology in optic wear. A new approach will proceed for new products entering a market. eMagin, will analyze other competitors in order to create a good marketing strategy to create a profitable marketing plan.

Specific attributes, product life cycle pace, factors influencing the product life cycle, product positioning, differentiation strategies, and appropriate pricing strategies using existing technology will be covered for Drive Alert. Product external and internal factors...