New Product Marketing Plan Part II 
New Product Marketing Plan:
Part II
University of Phoenix
November 3, 2014
In the continuation of the product marketing plan for Tress Express, the completion of the market segmentation will allow for further development of the necessary elements to introduce the product line into today’s market. As such, the detailing of the business’ target market profile key buying behaviors and organizational target markets will shed light on the potential customers and the methods behind their reasoning for seeking out such products. Along with the management of the Product Life Cycle (PLC), as well as the product mix and positioning statement for Tress Express, this second part of the product marketing plan will expand upon elements of marketing.
Target Market Profiles
Millions of people worldwide are affected by hair loss or thinning. According to Statisticbrian.com (2014), approximately 56 million men and women experience hair loss. Estimates indicate that by the age of 60, 65% of men and 80% of women will experience noticeable hair loss or thinning. Statistics indicate that as men and women age, the likelihood of hair loss increases. For those not affected by thinning or loss will usually experience graying hair over time.
Tress Express Products line of emergency cosmetic hair care solutions targets aging adults affected by hair thinning, loss, and graying. Tress Express Products customers are concerned with health, energy, and wellness. They look for quick fixes that provide instant improvement. They are open to new products that save them time, make life easier, and are cost effective.
Tress Express Products customers are motivated by their current life stage rather than their age. Service and low-price items are valued by them. They are less sensitive to prestige. If they feel they are purchasing a superior product at a good value they are less price conscious.
Product Life Cycle
Four stages exist in the product life cycle: introduction,
Part II
University of Phoenix
November 3, 2014
In the continuation of the product marketing plan for Tress Express, the completion of the market segmentation will allow for further development of the necessary elements to introduce the product line into today’s market. As such, the detailing of the business’ target market profile key buying behaviors and organizational target markets will shed light on the potential customers and the methods behind their reasoning for seeking out such products. Along with the management of the Product Life Cycle (PLC), as well as the product mix and positioning statement for Tress Express, this second part of the product marketing plan will expand upon elements of marketing.
Target Market Profiles
Millions of people worldwide are affected by hair loss or thinning. According to Statisticbrian.com (2014), approximately 56 million men and women experience hair loss. Estimates indicate that by the age of 60, 65% of men and 80% of women will experience noticeable hair loss or thinning. Statistics indicate that as men and women age, the likelihood of hair loss increases. For those not affected by thinning or loss will usually experience graying hair over time.
Tress Express Products line of emergency cosmetic hair care solutions targets aging adults affected by hair thinning, loss, and graying. Tress Express Products customers are concerned with health, energy, and wellness. They look for quick fixes that provide instant improvement. They are open to new products that save them time, make life easier, and are cost effective.
Tress Express Products customers are motivated by their current life stage rather than their age. Service and low-price items are valued by them. They are less sensitive to prestige. If they feel they are purchasing a superior product at a good value they are less price conscious.
Product Life Cycle
Four stages exist in the product life cycle: introduction,
References: Statisticbrian.com 2014. Hair Loss Statistics. Retrieved from http://www.statisticbrain.com/hair- loss-statistics/ Suttle, R. 2014. Four Stages of a Product Life Cycle. Retrieved on November 2, 2014 from: http://www.ehow.com/info_8123597_four-stages-product-life-cycle.html What is Your Product Life Cycle. 2014. Retrieved on November 2, 2014 from: http://www.more-for- small-business.com/product-life-cycle.html