Lp4.2 Assignment Music2go Multi-Player New Product Launch

LP4.2 Assignment: Music2Go Multi-Player New Product Launch ReportHits4Lyfe Launch New Product: Youths Segment SonicProThe current product Sonic 1 has been a success. However in order to establish our hold on the current market we require to launch a new product. During this launch identifying the needs of the target market is essential. Target Market: Our target market is the youth segment. The choice for this market is not only an immediate market need but a long term market plan. The youth are the main buyers of entertainment products and therefore they are the main buyers of music and so music players. Although the current product cuts across different age groups it doesn’t meet different aesthetic and technical needs across the group. Having a product specific for the youths will increase our sales and lower our advertising budget on the long term. Sales: Based on the Product Contribution Report, the expected potential for units of sale is 2,000,000. We expect the number of units sold to increase from the current 1, 600,000 units to two million units. The increase will be from those customers who are currently not buying our Standard product. In addition the new sales will result from new