A Marketing Plan for a New Product

For ones augumented product, however, the same channel distribution will be used as is used for other audio products. Similarly, advertising and marketing and marketing activities for the DAT recorder will closely parallel those for the CD.

Four aspects of marketplace analysis are covered in this section. These aspects are (1) marketplace definition, (2) target market profile, (3) substitute products, and (4) uncontrollable factors.

The beginning point in the consideration of any element of advertising procedure lies in human needs and wants. The successful marketer must both identify these needs and wants, and "Digital Audio Tape," Buyer Reports, May perhaps 1988, 292. 3develop programs through which they can be satisfied. Athough the specific programs through which a marketer may satisfy human needs and demands will vary based on the specific product and in accordance with the specific market, all such satisfaction will come through exchange processesconsumers, at whatever level, will exchange one thing of value for the solution which will satisfy a require or a want. A second aspect of advertising and marketing which must be understood is the social advertising and marketing concept. The social advertising and marketing thought differs from the easy notion of marketing in 2 ways. First, the social thought calls upon the marketer to concentrate on buyers' needs and interests, as well as on their wants.

Audio technology is advancing rapidly. The manufacturers of DAT recorders are not in a position to control the development and promoting of new technologies which may surpass the DAT recorder. The use of DAT recorders is subject to restriction by government legislation. Such legislation could be enacted in response to demands for protection of creators of prerecorded audio tapes, CDs, and records. DAT recorder manufacturers may attempt to influence such legislative enactment; however, they can't manage either the enactment or the content of such legislation.

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