Marketing Plan for Bio-Mag Bracelets Essay example -- Business Marketi

Marketing Plan for Bio-Mag noveltysexecutive SUMMARYThe purpose of this analytical report is to provide a merchandising planfor Bio-Life Ltd new intersection point, Bio-Mag gewgaw on its drawic therapypurposes. As wellness issues are popular concerns of people in Australiaand overseas market, it is necessary for Bio-Life Ltd to hold up into thismarket as soon as possible. This market plan is to criticism thecompanys trade arrangement for the new product nevertheless to alsorecommend strategic responses to assist Bio-Life Ltd in developing asustainable operating system.In the following sections, product, Bio-Mag Bracelet bequeath be analysedin depth in the order of firstly, background secondly, marketingstrategies thirdly, marketing mix included product, price, people,placement and promotion lastly, SWOT analysis. It is anticipated thatthe marketing plan we have developed will facilitate the new product,Bio-Mag Bracelet success in the coming years.Marketing strategies of the Bio-Mag Bracelet is based on Segmentation,Targeting and Positioning. Positioning and Segmentation strategiesadopted by Bio-Mag Bracelet are persona styling and pain relief toattract its targeted customers. Besides that, the main purpose ofBio-Mag Bracelet is natural healing without drugs in pain relief,increase blood circulation and reduces turmoil and speeded uprecovery rate from injuries. The targeted consumers of the product aremiddle and hurrying classes, which need natural healing and health care.Differentiation is also an Copernican strategy. Bio-Mag Braceletdifferentiated from competitors with the additional features of onesize fits all.As the product will be finished by 9ct gold and stainless steel, theretail price of it is in a higher range. It is also contain a 2000Gauss / 200 mTesla special Rare Earth magnets. The location of theretailing will be mainly in big shopping malls or much than prestigious andwell known area. Placement includes elements such as channels,c overage, assortments, locations, blood line and transport of theproduct.The S.W.O.T is to analysis Strengths, Weaknesses, Opportunities andThreats of the products marketing plan.BackgroundAs technology advances, the environment has also start to become moreand more demanding and competitive with each and every individualspace life always on the inc... ...ing up sales. Nevertheless,Bio-Mag Bracelet also faced great competition from other healthproducts such as massage machine and so aside which there are manydifferent health products in the market.BIBLIOGRAPHYBarrett S., 2001 magnet therapy available online athttp//www.helhetsdoktorn.nu/magnet.htmCralle, R. (1997). Therionresearch.com Magnetic Therapy.http//www.therionresearch.com/learning_center_articles.html(Accessed 18th May 2005).Kotler, P. (2003) Marketing Management. Pearson Education, Inc., new-sprung(prenominal)Jersey, United States.No Author. (2005) Stuck On You Magnetic Therapy Supplier.http//www.stuckonyou.com(Accesse d 15th May 2005).No Author. No Date. Magnetic Therapy History.http//www.discovermagnetics.com/faq2.html(Accessed 18th May 2005).No Author. No Date. The scientific Basis For Magnet Therapy AnalyticalResearch Report.http//www.itembioenergy.com/infocenter/ScientificBasisMagnetTherapy.pdf(Accessed 18th May 2005).Competitors partnerships Website- Magnet-EZe http//magnet-eze.com.auAustralian Magnet Therapy http//www.australianmagnettherapy.comBio-Magnetic Therapy http//www.biomagnetictherapy.net