Free Essay Example on Product Innovation: Re-Inventing the Life Cycle

Introduction

A product is defined as an item that is offered for sale, and it can either be tangible or intangible. All products are made at a particular cost, plus all are sold at a specific price. The charged prices depend on the segment, the quality, and the market that is targeted (Freier, 2019). Products have a useful existence, after which they require replacement, as well as the life cycle, and this has to be re-invented. This paper aims to introduce the product, provide the name of that product, advertising slogan, product attributes, as well as product benefits.

Is your time best spent reading someone else’s essay? Get a 100% original essay FROM A CERTIFIED WRITER!

Save 25%

The name of the product is ThunderTech Painting Pro X3, and its advertising slogan is “Live span a faster way.”

The Attributes of The Product

Considering the scenario of the present bazaar, it can be pragmatic that there are several smartphones that various companies have launched. Nevertheless, this ThunderTech Painting Pro X3 is the upcoming developed device among all smartphones. Currently, the Smart Phone, as well as other mobile diplomacies have an Octacore processor and a RAM of 2GB with a version of Android KitKat pre-installed in them (Knowarth Technologies, 2018). ThunderTech serves the customers well since they have a long lifespan as well as in a way that nobody can imagine whether a mobile handset can have such a service. We aim at proceeding to deliver quality functioning products compared to our competitors for us to achieve a competitive advantage.

Proper branding, as well as marketing strategy, includes where, when, and what, along with to whom the product is being enhanced. It all concerns precision, and for smartphone promotion, targeting people who are between fifteen and thirty years old is essential. Another essential factor for the product is the logo, and this product must have an image of a signature to leave a mark in people’s minds. Furthermore, distribution channels are essential branding strategy factors since they will help in distinguishing our products while in the market.

Product Benefits

The ThunderTech Painting Pro X3 will serve customers with fast functions and support 2160 Pixel’s ultra HD. Several pre-installed apps, such as Google Maps, night mode, audio cutters as well as video, Google Play, 20MP camera that has auto zooming mode, and multi-linguistic keyboards will make the phone an all in a single person’s apparatus (The Economic Times, 2018). Since people always consider the money’s value that is invested, our company targets returning the best to the customers.

Conclusion

For a company to attain a competitive advantage, its products must be unique and developed. In most cases, there are some of the things that companies do for their products to be distinguished from their competitors. Our company’s target is to catch customer’s attention towards us as well as to sustain the clients’ attention.

References

The Economic Times. (2018, September 3). What is Product? Definition of Product, Product Meaning. https://economictimes.indiatimes.com/definition/product.

Freier, A. (2019, August 13). Benefits of a Mobile App – Why You Should Invest. Business of Apps. https://www.businessofapps.com/news/mobile-app-benefits/.

Knowarth Technologies. (2018, February 9). 9 Advantages of Mobile Apps over responsive eCommerce websites. Medium. https://medium.com/@KNOWARTH/9-advantages-of-mobile-apps-over-responsive-ecommerce-websites-6aed1e6db0d8.