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Marketing

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Marketing Research Paper
Benjamin A. Richmond
MKT/421
3/21/2016
Tom O’Brien

Marketing Research Paper When it comes to a Michelin tire, everyone knows that they are made with quality and the highest levels of innovation. The technology that is put into a Michelin tire is of great importance and Michelin takes great pride in the product that they make. There are multiple target markets that Michelin targets such as agriculture, racing, motocross, Indy, industrial equipment, bicycles, high performance and all season tires for our everyday automobiles. “All Michelin tires (both Replacement & Original Equipment) com with a limited warranty for tread wear, as well as a limited warranty which covers defects in workmanship and materials for the life of the original usable tread, or for 6 years from date of purchase, whichever occurs first. Mileage tread wear warranties vary by tire line” (Michelin US, 2015). The target market for my product will be for the everyday driver that can provide all the safe and performance needs that a tire should give. My product will be one that will divide and conquer the road and easily separate itself from other contender’s. The tire market that my product will most be involved and end up on top of is the all season tires. The reason for the all season tire market is simply because this tire product is the ones that are most popular and are used more than any other tires in the world. My product has no boundaries when it comes to the high technology of road grip traction and longevity of tire mileage capabilities. When it comes to traction or grip, “remember that the tires are the only contact your vehicle has with the road, so their grip plays an essential role in your safety. Your ability to brake, to turn, to accelerate or to stay stable at higher speeds all depend on your tire’s grip. Each type of tire is designed to provide grip in specific types of weather and road conditions” (MichelinUS/EN, 2015). The product that I have created is top of the line and can satisfy all types of your everyday vehicles. The name of my product is the “Invincible X1”. My product has the highest warranty and promise such as covering defects from the developmental shop itself and a 10 year warranty from the date of purchase. I believe highly in my product simply because of the time and money that was put into the research and development team to provide such a quality tire. My product has the best road grip and traction that hugs the roads with impressive capabilities. The handling of the tire is even more impressive simply due to the fact that it keeps more tread wear on the road than any other tire in the world. My research and development team made my tire high priority because they knew it was going to be the best tire ever produced. When people talk about innovation, quality and mobility my product of tire will come to mind. The rest of the competition will not know how to react or even know what to do against my product. The longevity of my product will be a 200,000 mile tire where nothing else comes close to that but another Michelin tire call the Primacy which only has an 80,000 mile warranty. My product contains Zero Pressure technology that allows it to go for 200 miles on a flat tire simply because the bead of the tire is so strong and well compacted of the best tire ingredients that allows it to keep a very structured form. Another great characteristic of my product is that it has the capability to insert metal pins into the tread wear to help gain better traction in the mud and snow when you are wanting to drive up those very snowy mountains. My product also contains a puncture free sidewall that gives it a strong sidewall that is impossible to penetrate. This feature can stop a knife puncture and even a bullet from puncturing your tire. My product is one that was made to care for the future of our customers in the best safety measures, quality, fuel saving, longevity and quiet ride which are the key factors that everyone wants from a tire. In my product we have also been able to create a green tire that was built to give 0% environmental threats. There is never any missing tread left in the road because my product is worn out from the driving and evaporates in the air with no visible trace of any substance. My tire product was also built from technology that provides the least emissions from any other tire market in the world. My product brings sustainability to a higher level. The demographic target that my product was designed for is for all mankind and that is because I wanted a product that can bring the world together in a safer and better sustainable world. By being able to develop a product such as the Invincible X1, everyone in the world can have a no worry free ride when it comes to the life of their tire. Can this product be evolved for a brand in the high performance world? My product can definitely and is right now in research and development for the high performance world. My research and development team is running thousands of test created from new ingredients and rubber compounds that can sustain the high velocity of the high performance world such as the Stingray Corvette, Shelby Mustang and the Tesla. My product will target many levels of the geographic world from countries overseas such as small urban towns with stone roads to the ones in the US with many different pavement types. The Invincible X1 will tackle all defeats of road floods, mud, dirt roads and the iciest roads. Can the Invincible X1 be useful to even tackle some of the highest elevated cities in the world with subzero temperatures. When it comes to defeat, the Invincible X1 has never seen it. My product will conquer and prevail in subzero temperatures and still push on with miles to go. When it comes to the psychographic characteristic of my product the Invincible X1, I want the consumer to feel a sense of security in their tires. Having a sense of security of the product that is on their vehicle can help provide a tire market not only for the innovation of new technology but also the comfort of the product they are riding on. How can the Invincible X1 create a more sensible ride so that the consumer can feel protected with what is on their ride. The Invincible X1 has been through thousands of rigorous tests that no other tire could ever handle. By putting my product through the ringer with as much stress testing as possible can help create a world of protection from vehicle to road. Last but not least, the behavioral target market which of course will be addressed in all sorts of manners of advertising. I will be using the internet, billboards, social media, flyers and even word of mouth. When it comes to such a great product as the Invincible X1 the tire will most likely speak of itself and the people will come to it. The question in this point would come from which advertising to start with first? My product would most likely stream the word of mouth by having a team of highly skilled individuals to get out in the world and spread the great news of a new product coming to town. This will help consumers to also get a better perspective of someone who can explain the importance of the Invincible X1 and what it can provide from them when it comes to a tire of its capacity. The best methods of conducting marketing research for my product is by digging into research that was already done on other products in Michelin and collaborate them together and make them better. The Invincible X1 is a tire product that doesn’t have a competitor because of the innovation and research that is put into it. The different types of target markets (demographic, geographic, psychographic, and behavioral) were used to put the Invincible X1 to the test. I wanted to make sure that my product can handle all the extremes so I made sure to put it through some of the most gruesome and endurance tests out there. I entitled all the steps in the market research process such as to “define objectives and problems, determine research design, design and prepare research instrument, sampling and data collection, analyze data and visualize and communicate results for a more defined approach to the real world” (Riddell, 2015). The Invincible X1 will explode when it comes from idea generation to commercialization simply by using a multi-step product develop process. By first creating the substance and ingredients for the rubber in the tire my product will blow the minds of the consumers with the quality that is produced. There of course will be thousands of tests to make sure that the Invincible X1 will hold up the most horrific environments and roads conditions that the world can provide. With a great training team to help train highly skilled individuals to build the Invincible X1 and a great sales team that know how to market can help to gain the best profits ever in a tire manufacturing world. The Invincible X1 will be marketed in all kinds of marketing strategies such as media, social networks, other web ads, billboards and word of mouth. The world is wanting a quality product and the Invincible X1 the product the can do more than just provide quality but it can provide the safest tire product ever created in the world.

References
MichelinUS. (2015). Warranty Information: Promise Plan. Retrieved from www.michelinman.com/US/en/tires/warranty.html. MichelinUS/EN. (2015). Performance Characteristics: Performance Details. Retrieved from www.michelinUS/EN/performance/details.html.
Riddell, Timothy. (2015). My Market Research Methods: 6 Steps to Success. Retrieved from
www.mymarketresearchmethods/6-steps.com

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