Product: A new and improved smart phone that allows the cutting edge of technology to meet the affordability that isn’t available with most other brands.
Price: Lower than the competitor but enough so that we could make a profit. We would minimize the profit per unit in hopes that due to the low price the demand for the product will be greater.
Promotion: Buy TV and radio time to air commercials promoting our product. On social media offer a giveaway that people enter by sharing our page. Have apps promote our product in exchange for being automatically put on the phone.
Place: Have it sold in existing stores like Best Buy and target. In addition to selling it in other stores also offer it online on our own website as well as amazon.
The price will encourage people who can’t necessarily afford the really expensive new iPhone, The promotion will help people find out about the new phone considering it isn’t a household name like apple. The giveaway will offer a way to reduce the cost of the promotion because people will share it to their friends with little to no cost to us. The place will make it easily accessible to the public and put it somewhere where they are looking for a product like the one we are offering.
