New Consumer Products, Target Markets, & Competitive Advantages

The new consumer product is called The Body Ball. It is a small inflatable ball that has two resistance bands made of rubber attached to each side. My target market is anyone who is in the fitness industry, interested in fitness, or is simply looking to get into shape and lose weight.  The ball will be a condensed version of several different types of fitness equipment and can be easily used from the privacy of home for any shy consumers out there. The ball could be sold in volume to any gyms who want to use it for classes or make it available for gym goers to use in their free time. Gyms always want to have the most modern equipment and this would be an opportunity to stay ahead in their industry.

A good song for the campaign would be anything that was very upbeat or had to do with fitness or working out. Some suggestions would be “Move It” by the artist Dope. A good endorser would be someone very fit and athletic, even someone who had a career in the fitness industry such as Bob Harper from The Biggest Loser. “According to the U. S. Food and Drug Administration (FDA) Americans spent an estimated $30 billion a year in 1992 on all types of diet programs and product” (Worldometers, 2012, 4) and that means there is a huge market out there for us to get a slice of. It is easier to make money off of a product when you have a larger segment of people that are going to have a potential interest in your project.

This is a very unique product that many have never seen anything like. By showing the results that the product can produce, people are going to want to get their hands on this piece of fitness equipment. We can advertise in gyms and on television so that we can target as much of our specific market segment as possible. We are poised to compete with the competition because, as many people have never seen or used this product before, they aren’t going to have any idea what type of results that it can produce. They will have to try it on their own to figure out how well that it works. New products spark peoples interest and a lot of people are so desperate to lose weight that they are willing to try anything. This will be a very high quality product and good marketing could make this product a lot of money. If we could get commercial time when shows that are specifically targeting weight loss, such as The Biggest Loser, we will be able to reach more of our target market as well.

References

Worldometer. (2012). Real time world statistics. Retrieved from http://www.worldometers.info/weight-loss/