1-1 Discussion: The Market is Calling for Biolage R.A.W.
Biolage R.A.W. is a professional haircare brand launched in 2017, in Portugal. The brand is taking its first steps into the Portuguese market and facing a lack of awareness about high-end natural products along with facing challenges with pricing in this segment. This case looks at how Biolage R.A.W. can come up with a launch strategy in a market where the brand name is unknown and the price of the products is regarded as high by the target consumer.
My Company for this assignment is Facebook.
For this course’s final project, you will develop a business plan for the new product, service, or other business idea that you began conceptualizing in the previous MBA 515 Business Environment, Innovation, and Entrepreneurship course. After completing this week’s readings and after reading the corresponding article in the Reading and Resources section of this module, address the importance of the following items for your chosen business or idea:
- Identifying your target demographic(s)
- Defining the psychographics of your target demographic(s)
- Addressing the needs and wants of the target demographic(s)
- Describing how the company can use its brand to help establish trust with the target demographic
Requirements: 1-2 Paragraphs
Answer preview
Facebook is a social media platform that currently has about 1.93 billion daily active users. For years, Facebook has been focused on developing the Facebook application and other software applications other than focusing on hardware products. The company has excellent potential in launching F22 smartphone hardware that should compete with other high-quality phones like Apple. The target demographic is millennials or generation Y, currently between 26 and 41 years old. According to Carvalho & Faria (2022), Facebook is the most used social media platform globally, with about 83% of millennials having an active Facebook account. According to the 2019 Census, the U.S Census Bureau noted that the number of millennials was approximately 73 million. The generation was predicted to continue increasing at a high rate due to factors such as immigration. This is a significant potential market for F22 smartphones from Facebook in the U.S.
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