New Product Paper
The new product name is called “Good for Me App” it will cost $1.99 per download with a .99 cent monthly charge for maintenance and updates. This is a downloadable app for everyone to use. It has a built in scanner for your smartphone/tablet so you can scan a food/drug product to see if it is healthy or unhealthy. This would save time reading and trying to figure out the nutritional information on products with a simple, “good” for me with a , or “bad” for me with a listed. This product will go under the Psychographic Segmentation variable (pg.233) I chose this market segmentation variable because it includes Lifestyle, self- concept and self-values. (pg.234) Lifestyle is the way we live. This is a decent variable for this product because it is all about lifestyle. It is a choice to make sure what we are putting in our bodies as well as our families bodies are healthy things. By using the VALS Framework, (pg235) we can determine what type of people will use the product. Basically, VALS breaks people down into 8 unique categories by having a number of them fill out a questionnaire. This in turn assists companies in determining their market segments and their motivations. (pg.234) Self-concept, which is different from self-value, is important to this product because it has to do with how people actually see themselves. (pg.233) These are the type of people who care about how the look and in turn want the best for their bodies. This not only includes how they see themselves physically but also mentally. When you put good things in your body, you feel good in and out and when you put bad things in your body you will feel bad inside and out. Self-values; in which I believe to be the most important of the three because they are our goals for life. (pg.233)When we don’t have goals and the motivation to better ourselves we can’t go forward with anything in our lives. Our goals motivate us to be better people. This product will help with that...
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