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Supernova Technologies - Business Plan Example

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The paper "Supernova Technologies" describes the marketing strategy of the Supernova company which is beginning to experience growth in domestic sales of retro-styled radio and portable music systems, developing an appropriate product line consisting of various vintage media technologies…
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Supernova Technologies
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Download file to see previous pages Thus Supernova has conducted extensive market research in pursuit of establishing our brand as the foremost leader of quality, low-cost classic television entertainment.
Supernova Technologies strives to become the premier provider of retro-styled televisions inspired by 1950s simplicity and designed to recapture the ambiance of yesteryear. In today's electronics marketplace, sleeker, more contemporary televisions sets in the form of the big screen, LCD, and plasma flat screens are capturing the attention of consumers and replacing the demand for boxier, more traditional televisions. However, to the advantage of Supernova Technologies, this particular market is highly saturated with competition as more and more electronics manufacturers are attempting to cash in on the modern consumer's desires for modernized television entertainment. The market introduction of the Supernova Retro50TM will mark the first product introduction of its kind, making our brand a leader in innovative television design.
Marketing research suggests that a considerable gap exists between consumers over the age of 50 created by limited efforts from contemporary companies to utilize suitable marketing tactics to reach this consumer group. A recent survey conducted by GreyPower, aimed at consumers age 50 and over, returned data that 88% of older consumers believe that advertising must change to reflect their needs and desires; citing that the over-50 group would like to see more mature people featured in modern advertisements (Marketing Week, 9). However, marketing efforts from competitors fail to recognize the over-50 group as a potentially profitable target market. Supernova marketing research has discovered that spending by people over 50 is constantly increasing, as consumers over 65 spent 12% more in 1999 than they did in 1990, however, the average household only increased spending by 2% in the same decade. Further, older consumers spend more than average on ...Download file to see next pagesRead More
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