Product Analysis

755 words - 4 pages

Product Market Analysis
Introduction to Communication
May 26, 2013

















Product Market Analysis
Deciding which product to purchase once the decision to make the purchase can often be a difficult task. Today’s media outlets offer a high level of advertising and product marketing. Information released from product advertisement is often true and sometimes false, sadly ...view middle of the document...

They chose to advertise in magazines that related to biking in an effort to appeal to their targeted audience. These efforts sold bikes; however, not at the level the seller had hoped to achieve. The consumer’s lack of knowledge of the product and the benefits it could offer has led to sales not achieving the levels the seller hoped for. The advertising campaign should have been larger and included more media outlets used to have increased sales. (www.livestrong.com)
Companies could increase sales tremendously by using media convergence, which is a merging of multiple communication outlets. A consumer could control the rate at which he or she receives information and this would help to retain the information and be more likely to lead to sales. Placing the magazine advertisements online for the consumer to read will likely would lead to a faster purchase rather than just viewing the advertisement in a magazine. With the increasing popularity of tablets, cell phones, and iPod’s, having information relating to recumbent bicycles readily accessible by these devices is a strong way to increase product knowledge.
The sales for recumbent bicycles would likely increase if more media outlets were used to market the product. Bike shops that sell the product could have local commercials or advertisements on the radio. The maker of the bicycle should invest in national commercial campaigns. Running advertisements in local newspapers, especially on Sunday’s is a beneficial way to increase knowledge of a product which would therefore increase sales. The use of social media outlets has become a widespread epidemic,...

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