LP4.1 Assignment Music2Go New Product Launch Plan - New...

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New Product Launch Plan The target market segment that I chose to launch was sports. I chose this market segment due to the low sensitivity level of price. This will help me lower the cost of the standard and for the first year it will show where I would need to improve on, whether it was too high or too low of a price. The sales forecast for my new product in the first year is 1,920,000 units. Knowing how well I did with my first product and how much inventory I ordered in the previous years, I felt this was a good number between what I did before and the highest to go. It is not too much or too little. The retail price of my new product is $135 it is right in the middle between the low and high of the average price of this product. I decided for the first year to play it safe and not make the price too high where no one would want to buy it. If I made it too low I may not achieve my end of year goals by not selling at a good price point. This way I can now adjust it up or down depending on this year’s sales.

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