The Factors Surrounding the Marketing of Magnetically Powered Products Research Paper

The Factors Surrounding the Marketing of Magnetically Powered Products - Research Paper Example It is evidently clear from the discussion that the legal-political environment is very strict because of the regulations advanced by government authorities.   There are no competitors at the beginning stage because it is an innovation. The economic environment negatively affects the purchasing power of consumers if it has high inflation and low employment rates. The product appeals to different market segments, which are families, youths and the old people. The youth would go for flashy vehicles that are unique and popular. Families need safe automobiles that are cheap to maintain. The social responsibility issues are environmental sustainability and public safety. It is not ethical to manufacture vehicles that do not guarantee safety to the consumer. Global marketing can be facilitated by the internet. The internet will allow billions of people to receive information about the product. Magnetically powered automobiles can be a breakthrough in the world where environmentally friend ly sources of energy are high demand. A market research analysis is conducted to project the performance of a product when it is introduced to the market. The research analyzes the factors that are likely to affect product performance in the market. The report presents a market research for magnetically powered automobiles. The high demand for hybrid automobiles that use electric power is a clear indicator that the industry is craving for efficient sources of energy. It analyzes different marketing conditions that will influence consumers to purchase these automobiles. The marketing mix includes all the decisions that are made to facilitate the introduction of a product in the market. It is all about getting the product in the right place at the right time and with the right price. It also involves the promotion. Magnetically powered automobiles are bound to perform well because they are unique. The product meets the customers’ need for a high-efficiency vehicle that uses env ironmentally friendly energy.