Marketing

Marketing Research Plan

Tiffine C Bourland

Business 4036

08/12/16

New products and services are the lifeblood of all businesses. Therefore, investing in their development is crucial to the profitability and growth of the business. While embarking on its development process can be quite risky as it requires considerable organization and planning. Besides that, it also requires looking at the lifecycle of the product or service as well as matching them to the market needs. The new product that we wish to introduce to the market is a 3-dimension digital figurine. It will involve taking a photo which will act as a digital blue print. The photo will be taken by more than five cameras which will be erected in a room to capture the best angle of the person or animal that one will wish to be taken. The blueprint will then be built into layers using gypsum powder to create a 3D figurine of the person or animal (Parasuraman, 2007).

The rationale of selecting this service was through conducting market research where we were able to identify a niche in something that the consumers would want. In terms of preserving memories, most companies are developing more technology based cameras to help consumers take photos of themselves and their families. However, despite consumers always wanting to hold their memories, photographs have been there since time immemorial and so they want something more than that (Bradley, 2013). That is why we developed this product where we can be able to provide the consumers with a more physical product which can be touched and felt. The 3D figurine will help consumers take pictures which will then be transformed into 3D. Therefore, the consumers will be able to see themselves as they currently are and the figurines will also act as a memory year to come. For most parents who want to take good pictures of their children, this can prove to be a difficult task as children are often destructed. However, with this service, the many cameras put in place can be able to capture the best picture and make a 3D image of the child which the parents can remember and even show the children in future.

The research objective that this research seeks to address is to close the market niche by making the process of preserving memories more realistic. This is because; the 3D figurines unlike a normal photograph will be an actual figure on oneself. Besides that, it seeks to make the customers memories more memorable by enabling them to collect figurines of themselves and their families which unlike the normal pictures cannot be easily destroyed. In addition to that, it seeks to save consumers money and time because they will not need to go to the studio to print the photos or buy photo albums to store the photos as everything is done in one place and given to them. Besides that, the figurines can last a lifetime compared to the ordinary photos which can be easily destroyed if they are not well stored. Therefore, these 3D figurines will have a great influence in the market (Belk, 2013).

References

Belk, R. W., Fischer, E., & Kozinets, R. V. (2013). Qualitative consumer & marketing research.

Bradley, N. (2013). Marketing research: Tools & techniques.

Parasuraman, A., Grewal, D., & Krishnan, R. (2007). Marketing research. Boston, MA: Houghton Mifflin Co.