This will be a formal paper. It should end up at 6-10 pages in length \u2013 not counting the cover page and reference pages. It should contain proper research and support with APA citations and references. NO PLAGIRISM! THANKS=)
BUS 328: Principles of Marketing<\/p>\n
MARKETING PLAN GUIDE<\/p>\n
Step 1: Introduction (\u201cBusiness Challenge\u201d) 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).<\/p>\n
Describe WHAT it is; WHO it will be targeted to; WHY it will be successful<\/p>\n
Step 2: The Market Conduct market research and gather information that will specifically affect the marketing plan for your product.<\/p>\n
Customers \u2013 Target Market (address relevant characteristics)<\/p>\n
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\u2019s mind relative to competition in the marketplace?<\/p>\n
INTERNAL Strengths and Weaknesses
EXTERNAL Threats and Opportunities<\/p>\n
Consider:<\/p>\n
Competition
Economy
Technology
Public\/Policy, Legal
Socio-cultural (demographic and lifestyle trends)
Natural environment<\/p>\n
Collaborators
Competitors<\/p>\n
Step 3: Develop Marketing Strategies \u201cHow are we going to get there?\u201d<\/p>\n
PRODUCT Strategy<\/p>\n
Features, advantages\/benefits of product or service
Brand name, packaging, \u201cancillary\u201d services (delivery, warranty, credit, etc.)<\/p>\n
PRICE Strategy
PROMOTION Strategy<\/p>\n
Promotional campaign information
Promotional tools utilized, mediums, timing<\/p>\n
DISTRIBUTION\/SUPPLY CHAIN Strategy<\/p>\n
Availability of the product\/service
Type of strategies
Intermediaries?<\/p>\n
Step 4: Budget<\/p>\n
Investment for launch
Short- and long-term returns
Other resources<\/p>\n
Step 5: Finishing Touches<\/p>\n
Provide executive summary at beginning
Conclude document at end<\/p>\n","protected":false},"excerpt":{"rendered":"
This will be a formal paper. It should end up at 6-10 pages in length \u2013 not counting the cover page and reference pages. It should contain proper research and support with APA citations and references. NO PLAGIRISM! THANKS=) BUS Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-187723","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/187723","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=187723"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/187723\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=187723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=187723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=187723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}