Marketing Plan for Bio-Mag Bracelets Essay example -- Business Marketi

Marketing Plan for Bio-Mag BraceletsEXECUTIVE SUMMARYThe purpose of this analytical report is to turn in a marketing planfor Bio-Life Ltd new product, Bio-Mag Bracelet on its magnetic therapypurposes. As health issues are popular concerns of people in Australiaand overseas market, it is required for Bio-Life Ltd to get into thismarket as soon as possible. This marketing plan is to review thecompanys marketing arrangement for the new product still to alsorecommend strategic responses to assist Bio-Life Ltd in developing asustainable operating system.In the following sections, product, Bio-Mag Bracelet give be analysedin depth in the order of firstly, background secondly, marketingstrategies thirdly, marketing mix included product, price, people,placement and promotion lastly, SWOT analysis. It is anticipated thatthe marketing plan we choose developed will facilitate the new product,Bio-Mag Bracelet success in the coming years.Marketing strategies of the Bio-Mag Bracelet is based on Segmentation,Targeting and Positioning. Positioning and Segmentation strategies espouse by Bio-Mag Bracelet are quality styling and bruise relief toattract its targeted customers. Besides that, the main purpose ofBio-Mag Bracelet is natural healing without drugs in pain relief,increase blood circulation and reduces inflammation and speeded uprecovery rate from injuries. The targeted consumers of the product aremiddle and upper classes, which need natural healing and health care. speciality is also an important strategy. Bio-Mag Braceletdifferentiated from competitors with the additional features of onesize fits all.As the product will be finished by 9ct gold and unblemished steel, theretail price of it is in a higher range. It is also contain a 2000Gauss / 200 mTesla special Rare Earth magnets. The location of theretailing will be mainly in big shopping malls or more prestigious andwell known area. Placement includes elements such as channels,coverage, assortments, locations, i nventory and mail of theproduct.The S.W.O.T is to analysis Strengths, Weaknesses, Opportunities andThreats of the products marketing plan.BackgroundAs technology advances, the environment has also start to become moreand more demanding and competitive with each and every individualspace life always on the inc... ...ing up sales. Nevertheless,Bio-Mag Bracelet also faced great competition from other healthproducts such as massage machine and so forth which there are manydifferent health products in the market.BIBLIOGRAPHYBarrett S., 2001 magnet therapy available online athttp//www.helhetsdoktorn.nu/magnet.htmCralle, R. (1997). Therionresearch.com Magnetic Therapy.http//www.therionresearch.com/learning_center_articles.html(Accessed eighteenth May 2005).Kotler, P. (2003) Marketing Management. Pearson Education, Inc., NewJersey, United States.No Author. (2005) Stuck On You Magnetic Therapy Supplier.http//www.stuckonyou.com(Accessed 15th May 2005).No Author. No Date. Magnetic Therapy Hi story.http//www.discovermagnetics.com/faq2.html(Accessed 18th May 2005).No Author. No Date. The Scientific Basis For Magnet Therapy AnalyticalResearch Report.http//www.itembioenergy.com/infocenter/ScientificBasisMagnetTherapy.pdf(Accessed 18th May 2005).Competitors Companys Website- Magnet-EZe http//magnet-eze.com.auAustralian Magnet Therapy http//www.australianmagnettherapy.comBio-Magnetic Therapy http//www.biomagnetictherapy.net