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Define the product or service from a marketing orientation

Assignment Help Marketing Management
Reference no: EM131048082

BUSINESS CLASS ASSIGNMENT

This will be a formal paper. It should end up at 6-10 pages in length - not counting the cover page and reference pages. It should contain proper research and support with APA citations and references. NO PLAGIRISM! THANKS=)

Principles of Marketing

MARKETING PLAN GUIDE

Step 1: Introduction ("Business Challenge") Why is this product needed? A marketing plan is to be persuasive; this should be an influential introduction. Define the product or service from a marketing orientation (focusing on how you will satisfy customer wants and needs better than any other competitive alternative).

Describe WHAT it is; WHO it will be targeted to; WHY it will be successful

Step 2: The Market Conduct market research and gather information that will specifically affect the marketing plan for your product.

Customers - Target Market (address relevant characteristics)

Demographics: age, gender, education, income, ethnicity, geographic location

Psychographics: values, lifestyles, activities, interests, opinions, VALS2 type, media habits, shopping habits, spending habits, charitable activities etc.

Behaviorally: What benefits are they looking for in this type of product/service? How do they use the product?

POSITIONING: How will this product brand be positioned in the target customer's mind relative to competition in the marketplace?

INTERNAL Strengths and Weaknesses

EXTERNAL Threats and Opportunities

Consider:

Competition
Economy
Technology
Public/Policy, Legal
Socio-cultural (demographic and lifestyle trends)
Natural environment
Collaborators
Competitors

Step 3: Develop Marketing Strategies "How are we going to get there?"

PRODUCT Strategy

Features, advantages/benefits of product or service

Brand name, packaging, "ancillary" services (delivery, warranty, credit, etc.)

PRICE Strategy
PROMOTION Strategy

Promotional campaign information
Promotional tools utilized, mediums, timing

DISTRIBUTION/SUPPLY CHAIN Strategy

Availability of the product/service
Type of strategies
Intermediaries?

Step 4: Budget

Investment for launch
Short- and long-term returns
Other resources

Step 5: Finishing Touches

Provide executive summary at beginning
Conclude document at end.

Reference no: EM131048082

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