Group Report 7

Group Report 7 - Marketing MotionAct is currently offering...

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Unformatted text preview: Marketing MotionAct is currently offering the U-Charge as its only product. There are a variety of reasons for this decision, the main one being the age of our company. We are a newly founded company that was started on the basis of this one product. We are currently dedicating all our time and energy on the U-Charge, and making sure that this product is developed properly. However, we may choose to expand our product variety and line in the near future, if our sales and outcome from this product prove to be successful. An expansion in self-powered accessories for consumer electronics has a strong possibility in our company’s future. Due to our price skimming strategy, we are going to price the U-charge at $40 for the first year. A majority of our competitors’ products range from $10 to $40 and due to our product’s competitive advantage we should be able to gain a large market share and be successful at this price. A majority of our competitors price their chargers at around $20, so our strategy is to price....
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