Detailed Marketing Report: Speed Ride Motorbike Product Introduction

This report provides a comprehensive overview of the marketing strategies implemented for the launch of the Speed Ride motorbike. It delves into the product itself, highlighting the importance of understanding the market gap and the need for effective marketing. The report outlines various promotional techniques, including pre-launch contests and giveaways, digital marketing through website development and social media engagement, and the creation of FAQs to address customer inquiries. The report also explores pricing strategies such as bundle pricing, psychological pricing, price skimming, and market penetration pricing. Furthermore, the report discusses placement strategies, encompassing visual and auditory placement, along with advertising before the product release. Promotion strategies include physical environment activities, traditional media advertising, and digital media campaigns. The conclusion emphasizes the importance of strategic marketing for success in a competitive market. References and appendices are included to support the analysis.

Running head: Marketing for speed Ride Motor bike
Marketing for Speed Ride motor bike
Student’s name
Institution
Date

Product marketing
Table of Contents
Introduction.....................................................................................................................................2
Product.............................................................................................................................................2
Contest and giveaways................................................................................................................2
Digital marketing..........................................................................................................................4
Preparation of FAQ......................................................................................................................4
Creation of a recommendation system.......................................................................................4
Pricing..............................................................................................................................................4
Buddle pricing..............................................................................................................................4
Psychological pricing....................................................................................................................5
Price skimming.............................................................................................................................5
Market penetration pricing..........................................................................................................5
Placement........................................................................................................................................5
Visual placement..........................................................................................................................5
Auditory placement.....................................................................................................................6
Advertising before release...........................................................................................................6
Giveaways........................................................................................................................................6
Promotion........................................................................................................................................6
Physical environment...................................................................................................................6
Traditional media.........................................................................................................................6
Digital media................................................................................................................................7
Conclusion........................................................................................................................................7
Refence............................................................................................................................................8
Appendixes......................................................................................................................................8

Product marketing
Introduction
The main aim of writing this report is to explain the marketing strategy we embraced to
introduce Speed Ride motor bike to the market.
Innovation and growth in technology in combination of market gap helped us to develop a
motor bike product brand known as Speed Ride. Although we still have several other brands of
motorbike in the market, ours still remain outstanding in quality of the service and the machine
itself. With understanding that poor marketing can lead to business failure we opted to use the
four pillars of marketing strategy development, that is; promotion, pricing, placement and the
product.
Product
After identifying the market gap in the field of motors we made our own product, it’s all not
easy to reach the possible consumers and convince the on the effectiveness of the product and
hit the market. Therefore there are couples of things we need to do to create popularity of your
product to our targeted consumers.
Contest and giveaways
For a few weeks or months before the release of a product to the market we organized pre-
launch giveaways and contest, during these events lucky participants and winners are given a
Speed ride motor brand, these will help to spread information about the product by the
winners to friends and family members (Kosygin, England, Ling, 2016).

Product marketing
Digital marketing
A couple of months before launch, we created a web site for the speed ride motor bike and
maintained high consistence in creating blogs both in the web site and the social media, this
will help us to draw traffic to our site thus creating a name to the target customers.
Preparation of FAQ
When a new was product is introduced in the market consumers had a number of several
almost similar questions about the product on purpose and efficiency, therefore we developed
a section of “Frequently Asked Questions” and answers here we looked into factors like fuel
consumption, speed warranty and terms of sales
Creation of a recommendation system
This was achieved easily through giving incentive to people thus helping in creating a talk on the
product by people with their friends. We decided to give speed ride spares like wheels and
brake pads and fuel to the fast customers.
Pricing
After developing a product, the task of quoting the price of the product raised. This is not easy
as you still mind on how to cab and cope with the competition of the existing firms at the early
stage and after a long run period.

Product marketing
Buddle pricing
A single speed ride goes for $1200 while ten of them together went for $11000. This is a pricing
mechanism where now the product in the market is sold on a certain discount on bulky or
bundles buying while compared to buying the same quantity of the product individually.
Psychological pricing
This is a mechanism that targets on influencing the potential buyer psychologically rather than
logically. The company could decided to tag the price of speed ride as $19999, this will attract
more customers than when quoted $12000 the values that don’t have significant difference
logically but psychologically attracts the buyer (Kotabe, Helsen,2014).
Price skimming
This is the act of introducing a product in the market with a high price in the first phase and
then reducing the price of the product gradually. On this note the price of a Speed Ride was
$13000 at the introductory phase and reduces to $10000 later.
Market penetration pricing
This is a very effective skill where a new product is introduced and sold on price lower than that
of the generic product in the market, at this phase the price of this new product goes for a
higher price than the price of the competing product and later raise the price gradually. Since
our competitors were selling at $12500 then selling speed ride at $12000 could make it.

Product marketing
Placement
Most of the things people know are from what they either heard or saw. Therefore it is
important to let your product make appearance to the targeted people to create a ‘name’ and
familiarize people with the product. This can be achieved through activities such as:
Visual placement
This refers to the strategy where the product makes an appearance in the show room; we took
several samples of speed ride for display. The effectiveness of this strategy is achieved most
likely from the number of times the product makes the appearance in the show room and we
therefore decided to be consistent (Kostygina, England, Ling, 2016). To further this, the speed
ride was involved in the actual storyline (plot connection) in the show room through physical
handling.
Auditory placement
It is a strategic approach to marketing the name of the product is included in the shows
character script. The effectiveness of this method is dependent on the number of times the
product speed ride is mentioned, the emphases put on it and the number of people present.

Product marketing
Advertising before release
This refers to when adverts on the product are made online, on television print script or radios
depending on the media that ease reaching your targeted customers. We chose the use of the
television and social media with the support of the newspaper as this are the media our
potential customers are most likely to be using.
Giveaways
We organized a launching event where the customers were given incentive to encourage them
on buying on reinforcement of the hype created during the campaign events.
Promotion
Having the best product in the market was on all we needed get going and cub the competition
from our competitor. We endorsed a strategic plan of promotion, otherwise this can lead to a
serious lose. The following are several promotion strategies that can bring success to your
product in the market (Gaffey, 2017).
Physical environment
In this case, physical activities like concerts, trade shows are made in places that will attract a
higher number of potential customers to sensitize them on the product as they offer incentive
and commendable discounts and awards of speed ride product to those who buy at that
particular moment.

Product marketing
Traditional media
This refers to where the use of print media is put in place, e.g. the use of billboards,
newspapers magazines and electronic media like the televisions and radios to advertise the
product. We employed the use of the bill boards by road sides to attract road user to the
product.
Digital media
The invention of the internet has turned the world global as far as communication is concerned
through the use of social media. This plan worked well for us since majority of internet users’
uses social media like Facebook, snap chat, Instagram to name few among the endless list.
Therefore placing a promotion advertisement in this sort of media is likely to draw a large
number of people.
Conclusion
To sum up, it’s evident that coming up with the best product in the market is not all that one
requires to get equitable response in market competition. You therefore need to develop
serious marketing strategies or else you end up losing your money and yet you are the best
ever available dealer in that field.

Product marketing
Refence.
Gaffey, S. (2017). Signifying place: The semiotic realisation of place in Irish product marketing.
Routledge.
Junge, M., Severgnini, B., & Sørensen, A. (2016). Product‐Marketing Innovation, Skills, and Firm
Productivity Growth. Review of Income and Wealth, 62(4), 724-757.
Kostygina, G., England, L., & Ling, P. (2016). New product marketing blurs the line between
nicotine replacement therapy and smokeless tobacco products. American journal of
public health, 106(7), 1219-1222.
Kotabe, M., & Helsen, K. (2014). Global marketing management.
Shaw, S. (2016). Airline marketing and management. Routledge.

Product marketing
Appendixes.