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

selling Plan for Bio-Mag banglesEXECUTIVE SUMMARYThe purpose of this analytical report is to will a merchandising planfor Bio-Life Ltd stark naked product, Bio-Mag gewgaw on its magnetized therapypurposes. As health issues argon popular concerns of people in Australiaand oversea market, it is necessary for Bio-Life Ltd to get into thismarket as soon as possible. This marketing plan is to review thecompanys marketing arrangement for the new product but to alsorecommend strategic responses to assist Bio-Life Ltd in developing asustainable operating system.In the following sections, product, Bio-Mag watch bracelet will be analysedin depth in the order of firstly, orbit secondly, marketingstrategies thirdly, marketing mix included product, price, people,placement and promotion lastly, deck out analysis. It is anticipated thatthe marketing plan we have developed will promote the new product,Bio-Mag Bracelet success in the coming years.Marketing strategies of the Bio-Mag Brace let is based on Segmentation,Targeting and Positioning. Positioning and Segmentation strategiesadopted by Bio-Mag Bracelet are quality styling and pain relief toattract its targeted customers. Besides that, the principal(prenominal) purpose ofBio-Mag Bracelet is natural healing without drugs in pain relief, accession blood circulation and reduces inflammation and speeded uprecovery rate from injuries. The targeted consumers of the product aremiddle and upper classes, which need natural healing and health care.specialization is also an important strategy. Bio-Mag Braceletdifferentiated from competitors with the additional features of one size of it fits all.As the product will be finished by 9ct princely 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 localisation of function of theretailing will be mainly in big shop malls or more prestigious andwell known area. Placement includes element s such(prenominal) as channels,coverage, assortments, locations, inventory 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 snuff it moreand more demanding and competitive with each and every individualspace look always on the inc... ...ing up sales. Nevertheless,Bio-Mag Bracelet also faced huge competition from other healthproducts such as massage mould and so forth 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 eighteenth whitethorn 2005).Kotler, P. (2003) Marketing Management. Pearson Education, Inc., NewJersey, United States.No Author. (2005) Stuck On You Magnetic Therapy Supplier.http//ww w.stuckonyou.com(Accessed fifteenth 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 Companys Website- Magnet-EZe http//magnet-eze.com.auAustralian Magnet Therapy http//www.australianmagnettherapy.comBio-Magnetic Therapy http//www.biomagnetictherapy.net