Ridhi 8952465 Marketing Project

Product Development and Strategy Product Life cycle strategy:  To launch the product, intensive marketing strategies are used, such as advertising, promotions, and maybe attending trade shows.  maximizing growth and market share by gathering consumer reviews and feedback.  Keeping up with product life cycle to keep up with expanding competitors Changes to the new product: There can be several changes that can be made to the product to improve its sale for example:  Think about giving the lawnmower a new name that accurately describes its salient characteristics or advantages. which grab the interest of clients.  Improve existing capabilities or add new ones, like automated features for a better user experience or smart technology for remote control.  Make packaging more visually appealing or eco-friendly to make it stand out on store shelves.  Update or improve the visual identity and logo for the brand. Reason for choosing strategy: A redesigned logo can announce new product releases, bringing novelty and demonstrating the brand's dedication to creativity. While aesthetically pleasing packaging can draw attention and convey product quality, sustainable packaging also addresses environmental concerns. In a crowded market, a catchy name can draw in customers and improve brand recall. Marketplace Trend Analysis

| Competitor 2 | | Competitor 3 | |___________________________ Technology Integration Explanation Of Map:  New smart Lawnmower: Similar to competitors 2 and 3, the new smart lawnmower offers cutting-edge technological features, but it is also positioned as being more reasonably priced.  Competitor 1: comparatively lower on the axis of technological integration, indicating a lower degree of technological functionality.  Competitor 2: comparatively positioned on the right side of the affordability axis, indicating a product that might be thought to be more costly because of its sophisticated technology.  Competitor 3: This is our third competitor which is very expensive and not with much technology. Rona Difference from other products:  Integrating environmentally friendly features like energy efficiency and sustainable manufacturing practices improves the product's unique selling point.  Simple and inexpensive.  includes a lot of advanced technology. Promotional Strategy Outbound Communication Tool:  Social : Advertising on social media sites such as Facebook and Instagram can be very specifically targeted. Based on demographics, interests, and behaviours, lawnmower advertisements can target gardeners, homeowners, and do-it-yourselves..

be encouraged and highlighted in marketing materials. plan by collecting feedback. July Podcast 1 st July 30 th July Find and seize opportunities for podcast sponsorship. New members will join to promote our product through podcast. August SEO optimization 1 st August 31 st August Keep enhancing and growing your SEO initiatives. Attract more customers and traffic. September Social Media Advertising 1 st September 30 th September To engage the audience, start a contest or giveaway on social media. An increase in followers and interaction on social media October Email marketing campaigns 1 st October 31 st October Use email newsletters to highlight client successes. Client will be happy and invest more. November Direct Mail Flyers 1 st November 30 th November Send out year- end direct mail fliers with exclusive holiday promotions. More people will be engaged due to ongoing promotion. December Podcast Sponsorship 1 st December 31 st December Wrap up the year with a Overall feedback can

Place Strategy Three Retailor for selling the product: Home Depot:  An established retailer, Home Depot serves homeowners, do-it-yourselfers, and people working on home renovation projects.  The target market is eco-aware millennials, who frequently do their own gardening and lawn care, which makes Home Depot a perfect retail partner. Canadian Tire:  Homeowners, outdoor enthusiasts, and people with a wide range of interests make up Canadian Tire's large customer base.  Canadian Tire is a household name in Canadian retail and is well-known both in urban and suburban areas, effectively reaching its target market. Lowe’s: Lowe's focuses on outdoor living, gardening, and home improvement, and it serves a similar demographic to Home Depot. Millennials who care about the environment will find Lowe's dedication to sustainability and community projects to be highly appealing. Two New Distribution Channels:  Ecommerce platform: We can add our product to this kind of platform. allows for the flexibility of reaching customers outside of the physical store's geographic boundaries, catering to both suburban and urban residents.  Electronic Retailors: Retailers of consumer electronics like Best Buy or the electronic departments of large department stores offer a venue for showcasing and marketing cutting- edge smart home products..