AMP-425 Target-Market Strategy.docx - TARGET-MARKET...

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TARGET-MARKET STRATEGY Target-Market Strategy Lori Sanda Grand Canyon University: AMP-425 08/11/2019 1
TARGET-MARKET STRATEGY The development of a new product is a complicated process. Ideas and innovation of new products created fail within the first year of circulation (Stock & Zacharias, 2011). The failure of a new product distributed in the market comes from deciding whether it is needed there. Basically, new products fail to reach production within their first year of circulation because the developers of the product fail to determine the needs of the consumer (Stock & Zacharias, 2011). This paper will describe and explain the idea of a new product that will serve two different business markets. It will also define the process of entering each of the markets and acknowledge any potential boundaries that may arise, while implementing the essential for the product being introduced and how it will be a success within the market today. The new and equally fabulous Serendipity Day Spa and Salon invites one to escape from life’s daily pressures to relax and renew. Serendipity Day Spa and Salon is a full-service day spa, med spa and salon. It provides outstanding service at a great price, in a warm and welcoming atmosphere. This spa offers services for customers both young and old. This trendy spa has a variety of service and product choices, anything from a simple haircut and style, manicure and pedicure combo, Botox and fillers, skin tightening and contouring, micro needling, massages, wraps, scrubs, facials, waxing, laser hair removal, to B12 shots for energy and HCG diet for nutrition. The menu of services and products is diverse and always changing to keep ahead of the latest trends in the market. Serendipity Day Spa and Salon keeps a stylized, simple menu with a variety of choices of add-ons for the most indecisive of customers.

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