Develop new product and write brief marketing plan

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Reference no: EM132197525

Marketing Plan

You are asked to develop a new product and write a brief marketing plan (8-10 pages, double-spaced, in font size 12, Times New Roman style) for marketing that product. The product has to be new, meaning that it does not yet exist. Use your creativity. Examples from past classes (among others) include a new “Apple iVideo” device similar to the iPhone which creates & edits videos, an internet café adjacent to the Emporia campus as a franchise of a national chain, a pet waste pick-up service added for a local pet supplies store, and a new lightweight kayak carrier designed for smaller cars. The outline of the marketing plan is given below:

Executive summary (one-page summary of all of the following items)

The Target Market (use secondary data and/or primary data to justify)

Identifying characteristics (demographics, geography, values, and other characteristics)

Basic needs, wants, preferences, or requirements

Buying habits and preferences

Consumption characteristics

Product Strategy

Brand name

Major features and benefits

Differentiation/positioning strategy

Supplemental products (including customer service strategy)

Pricing Strategy

Overall pricing strategy and pricing objectives

Price comparison to competition

Specific pricing tactics (discounts, incentives, financing, etc.)

Distribution/Supply Chain Strategy

Overall supply chain strategy (including distribution intensity)

Channels and intermediaries to be used

Connection to differentiation/positioning strategy

Strategies to ensure channel support (slotting fees, guarantees, etc.)

Tactics designed to increase time, place, and possession utility

Integrated Marketing Communication (Promotion) Strategy

Overall IMC strategy, IMC objectives

Consumer promotion elements

Advertising strategy

Public relations/publicity strategy

Personal selling strategy

Consumer sales promotion (pull) strategy

Trade (channel) promotion elements

Advertising strategy

Public relations/publicity strategy

Personal selling strategy

Trade sales promotion (push) strategy

This is only a general outline. Under each of the P’s in the marketing mix, you may choose to emphasize or de-emphasize some of the items listed above. However, for each P, make sure you discuss the overall strategy.

I want to get marketing plan

Reference no: EM132197525

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