Marketing Environment, Consumer Behavior, Segmentation, Targeting, and Positioning (STP) as well as many different types of Promotion.
The product is the Meta VR headset, the Meta Quest 2 (formerly known as Oculus Quest 2).
The target market is college-aged students or those about to enter college.
The price is $299.
You will be coming up with a promotional plan for a product that is already on the market but that is currently struggling in finding a foothold with their chosen target market of college-aged students. This is a good opportunity to apply your knowledge of targeting, positioning, and promotion as you’ll be targeting a very specific group of consumers – those people who are leaving for college or who just entered college. This allows you to work on something that is relevant to your life and the life of your friends.
Meta Quest wants to become an essential component of college students’ lives. You will need to do some secondary research (don’t go gather research yourself, read what already exists out there) to find out what people think of the Meta Quest 2 and how you might influence their opinions and thoughts so that they will want to purchase it. You’ll also need to do research into how it can be used as MUCH more than a gaming device. It is a device that can connect people socially, across the miles or from room to room.
The price is $299 and you are not allowed to suggest changing the price of it. You can use language that impresses upon consumers what a great value the product is, though!
How would you communicate with college students? Which media would you use? Which platforms would you utilize? Where would you put advertisements? Would you use celebrities? Would you use smaller influencers? Who would be appropriate, given the product and the target market? Would you hold in-person events with the possibility of demonstrating the device? Where would you hold these? What would you say in the promotions to connect with this target market? What would you say that would be compelling? Would you use social media? Would you use personal selling?
Explain why your choices would be good (an efficient use of marketing dollars) in creating more sales among their target market (college students or those planning to attend college in the next year.