Asain Airlines has decided to launch a new line of products. Create a 1,400-word

Question

Asain Airlines has decided to launch a new line of products. Create a 1,400-word report and include the following information: Choose the target market for your product, and describe your target market in detail. Create a new product that would appeal to your market. Develop at least one question for each characteristic of the target market (demographic, geographic, psychographic, and behavioral) that will be important for you as you determine the marketing strategy for this new product. Recommend the best methods of conducting marketing research to answer these questions. Be sure to include why you chose these particular methods. Outline the steps you will take to bring your product to market from idea generation to commercialization, using a multi-step product development process.

Explanation / Answer

Asian Airlines have to be careful while targetting their customers ,it depends whether they want t ofly domestic or international .Airlines have to look at the price of other competitiors in the market , airline is a oligopoly market with differentiated products. Hence they have to price the tickets accordingly , however too low a price will reduce their profits but can given them an edge as a promotional strategy during there growing periods. The airlines can then change their strategies keep in imind reaction of their customers.For example use domestic airlines at a promotional price , but the company needs to keep in mind geographic and demographic aspects .Secondly, the traget audience has to be well defined to ensure that they will get attracted towards such promotional offers.If the customers are domestic or international passengers they will decide their pricing. Market research would then involve pricing , customer type , flight type and the existing competitorss in the industry.

Product development process would then involve product testing , testing the market reaction , commercialisation of theproduct per se . THese involve launching the idea and analysis review of customers to get an idea whether the product will be a successful one or not.

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