Introduction Our group came up with a new and never before done idea: a heat insulation cream. This product will be called Heat Wave. Our target markets will consist of Millennials, Generation X, and Baby Boomers. Our promotional plans will focus on social media and door to door selling. The total price of our product will be ten dollars, yielding an approximate profit of four dollars. We aim to sell our product in drugstores and on our own website.
Product
Our Product, Heat Wave, is a heat insulation cream that can be applied to the body that clogs your pores and allows your body to stay warm. This product is relevant and innovative because it means no additional heavy clothing in the winter time. Whenever you do not want to layer up, …show more content…
A substantial amount of the population is made up of Millennials. There are more than 60 million in the United States. Millennials are everyone born between the year 1982 and the year 2000. This group varies the most in terms of age, ranging from teenagers to adults who have their own families. Millennials put a strong emphasis on balancing work and life. By targeting this group of people for our product, we are bringing in numerous customers. Generation X consists of people born between the years 1965 and 1976. This demographic represents approximately 41 million Americans. They demand convenience and tend to be less likely to believe advertising claims or what salespeople tell them. They are an ideal target for our product due to Heat Wave being easily accessible and everyone enjoys being warm. Baby boomers are the 78 million Americans born between 1946 and 1964. This group is also a valuable target market for our product due to that many tend to feel cold frequently and would be willing to spend money for their warmth. The only competitor Heat Wave will have is Icy Hot, but their cream is not for the same purpose. Icy Hot cream is made to reduce pain. The ingredients cause a cooling sensation followed by a warming sensation that distracts you from the pain by blocking pain signals sent to the brain. The cooling sensation dulls the pain while the warming sensation …show more content…
Statistically, each of these markets has different social media habits, our company will need to cater to. Millennials typically are highly diverse in regards to which social media they prefer, with a current concentration on Snapchat and Instagram. A new social media platform is always in the works, with the potential to be the next popular social media. Our company will need to stay informed on social media developments and trends in the Millennial generation. In comparison to other social media platforms, Generation X has been shown to prefer Twitter and Pinterest. All three of these generations are highly active on Facebook, Millennials are the least active. In order to cater to these segments and their media preferences, our ads on these sites would include people in the same age range. For example, on Facebook, we could create a company page and we would include ads of elderly models applying the cream to themselves and a blanket on the floor beside them. We could also use ads on Facebook with young parents (mid 30s) applying the lotion to their child, who is wearing no jacket. We could create a twitter account and implement a tweeting schedule, with the majority of activity being between 8 PM and 12 AM, where people consume the largest quantity of online media content. We would tweet facts on why Heat Wave is beneficial and the dangers of the cold. On all social media platforms, we
Product
Our Product, Heat Wave, is a heat insulation cream that can be applied to the body that clogs your pores and allows your body to stay warm. This product is relevant and innovative because it means no additional heavy clothing in the winter time. Whenever you do not want to layer up, …show more content…
A substantial amount of the population is made up of Millennials. There are more than 60 million in the United States. Millennials are everyone born between the year 1982 and the year 2000. This group varies the most in terms of age, ranging from teenagers to adults who have their own families. Millennials put a strong emphasis on balancing work and life. By targeting this group of people for our product, we are bringing in numerous customers. Generation X consists of people born between the years 1965 and 1976. This demographic represents approximately 41 million Americans. They demand convenience and tend to be less likely to believe advertising claims or what salespeople tell them. They are an ideal target for our product due to Heat Wave being easily accessible and everyone enjoys being warm. Baby boomers are the 78 million Americans born between 1946 and 1964. This group is also a valuable target market for our product due to that many tend to feel cold frequently and would be willing to spend money for their warmth. The only competitor Heat Wave will have is Icy Hot, but their cream is not for the same purpose. Icy Hot cream is made to reduce pain. The ingredients cause a cooling sensation followed by a warming sensation that distracts you from the pain by blocking pain signals sent to the brain. The cooling sensation dulls the pain while the warming sensation …show more content…
Statistically, each of these markets has different social media habits, our company will need to cater to. Millennials typically are highly diverse in regards to which social media they prefer, with a current concentration on Snapchat and Instagram. A new social media platform is always in the works, with the potential to be the next popular social media. Our company will need to stay informed on social media developments and trends in the Millennial generation. In comparison to other social media platforms, Generation X has been shown to prefer Twitter and Pinterest. All three of these generations are highly active on Facebook, Millennials are the least active. In order to cater to these segments and their media preferences, our ads on these sites would include people in the same age range. For example, on Facebook, we could create a company page and we would include ads of elderly models applying the cream to themselves and a blanket on the floor beside them. We could also use ads on Facebook with young parents (mid 30s) applying the lotion to their child, who is wearing no jacket. We could create a twitter account and implement a tweeting schedule, with the majority of activity being between 8 PM and 12 AM, where people consume the largest quantity of online media content. We would tweet facts on why Heat Wave is beneficial and the dangers of the cold. On all social media platforms, we