None Essay Example | Topics and Well Written Essays - 500 words - 39

None - Essay Example The product offers a fast and convenient way of making a tea latte at home or office. Therefore, marketing Ms. Latte is supposed to create a distinct perception in the customers mind that it is a product meant to save time and money. The cost of a product determines its positioning in the market. During the implementation stage, the first rollout package will be positioned among medium income earners. This is because this market segment represents the largest population. In addition, the medium income earners are likely to perceive a tea latte as a basic necessity because of their busy lifestyles and the need to spend little money on living. The rich people may afford to order a latte from Starbucks whenever they want but the medium income earners want to run a busy lifestyle, save on living cost and still be able to use modern equipment such as Ms. Latte. Therefore, Ms. Latte will be positioned as an affordable product. However, after spending time on the market, the product can be developed further and differentiated into two models, an expensive for high-income earners and a basic one for low-income earners. The overarching gap in the market of Latte products is availability of time-saving latte product. Therefore, the primary attribute we would want the customer to see in Ms. Latte is the â€Å"time saving† attribute of this product. Marketing campaigns would actually need to focus more on the time saving aspect of the product. Positioning Ms. Latte within this context will make the product appealing to busy lifestyle populations especially in large cities and towns. However, this time attribute will need to be matched with the freedom attribute as well. It is not possible to dictate in a coffee shop, the amount or type of milk, sugar or other ingredients when ordering a latte. However, with Ms. Latte it is possible to alter all the ingredients depending on personal’s tastes and preferences. This gives freedom of taste