New Product: Super-Treadmill - Essay Example

The user can control the speed of the conveyor belt to conform to their desired speed of walking or running. However, with technological development, our Super-Treadmill has more advanced abilities than the current treadmills in the market.

Instead of having a treadmill as a device for exercise only, the Super-Treadmill has increased features and functionalities to improve its usability (Parley 15). The new product has a computer-aided simulation ability, which gives the user the ability to simulate different landscapes, environments, cities, mountains, and beaches among other places. While the user is at home, he or she can use the product can walk on any beach, or city, climb a mountain or walk on any street in the world through a computer-aided simulation.

The Super-Treadmill uses an electronic system, which provides the use views, sounds, temperature, lights, and smells of their selected places of doing exercise while they are at home. The main objective of the Super-Treadmill is to provide its users with a chance to have adventures in any place across the world. Apart from the added computerized electronic system, the Super-Treadmill’s conveyor belt can change positions to conform to the steepness of the selected topography. To attract many prospects, the Super-Treadmill will be sold at a price that is 15 percent more than the price of the normal treadmill (Parley 25). This will still attract prospective customers, considering the extra features it has.

The relevance of the Super-Treadmill in contemporary treadmills marketplaces is based on the fact that people spend too many financial resources to physically tour their desirable places during their vacations. The fact that the Super-Treadmill will facilitate indoor tours to various places across the shows its advantages in terms of uses of financial resources and time consumption (Parley 18). Apart from doing exercise by walking on the treadmill’s platform, the Super-Treadmill is not comparable to normal treadmills in any aspect.

This means that the willingness of the prospects to buy the new product will be far much higher than that of buying the normal treadmills (Parley 21). This is due to many long-term advantages such as the ability to control the system remotely. However, the main challenge that the new product may face in the market is that its prospects may prefer a physical presence in their desired places instead of an artificial experience. Therefore, it is appropriate to carefully target the right marketplace using a suitable marketing plan for the brand in order its market momentum.

The potential marketplaces for the product include the sports sector, tourism sector, and private homes for exercise and artificial adventure (Parley 33). The tourism sector is targeted at those who want to do an artificial tour to certain places in the world due to lack of money. Even though they will not be physically present in their place of desire, the Super-Treadmill with allow them to have similar experiences about the place with those who live there. To reach customers, we intend to use road shows and personal selling in the local marketplaces (Parley 78). Our major advertising activities will be internet-based, especially through the new product's website. By using a well-developed website that ranks on the first page of the major search engines, the product will have the potential of attracting huge traffic to the website. Read More