Report’s findings and recommendations for key areas for the final marketing plan.
Highlight the problem you want to solve or the opportunity you want to avail (Want or need)?
Business idea: overview about the new product proposed. Importance and Significance
3-New Product or Service
What is innovative about your product / service?
Describe the features of the product
Compare with competitive or near competitive products. How does it differ? Points of difference!
Brand your product and propose a logo for it
4-Market PESTL Analysis
Conduct PESTL analysis, this includes a focused discussion of the political, economic, sociocultural, technological, legal issues associated with the company’s market environments.
Identify your competitors. Determine relative (or estimated) market share for your principal competitors.
In view of the above analysis, conduct a SWOT analysis explaining in points the strengths, weaknesses, opportunities and threats.
7-Customer – Analysis: Segmentation, Targeting, Positioning
Define your target customers by applying the segmentation variables (demographic, psychographic, geographic, and socioeconomic). What is the size of the target customers? (express in percentage)
Design your marketing mix for the targeted segment
Set a position for your product. Draw the positioning map
8-Marketing Communications Plan
Set marketing communications objectives (They should be SMART)
Explain the proposed promotion mix to achieve your marketing objectives (advertising, public relations, personal selling, etc)
Provide an estimated time and budget to achieve your goals.
State your conclusion and recommendations to transfer your business idea to a successful business.
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