Marketing Plan- Launching a New Product in a Competitive Market
.docx
keyboard_arrow_up
School
Arizona State University *
*We aren’t endorsed by this school
Course
93922
Subject
Marketing
Date
Apr 3, 2024
Type
docx
Pages
2
Uploaded by DeanIbex752 on coursehero.com
**Document Title:** Marketing Plan: Launching a New Product in a Competitive Market
**Course Name:** Marketing Management
---
**Assignment Overview:**
In this assignment, you will develop a comprehensive marketing plan for launching a new product in a competitive market. A well-crafted marketing plan is essential for successfully introducing a product and gaining a competitive edge in the marketplace.
**Assignment Objectives:**
- To understand the key components of a marketing plan.
- To analyze the market environment and target audience for a new product.
- To develop effective marketing strategies and tactics for product launch.
**Instructions:**
1. **Executive Summary (200 words):**
- Provide a brief overview of the new product you will be launching.
- Summarize the key elements of your marketing plan, including objectives, target market, and
strategies.
2. **Product Description (300 words):**
- Describe the new product in detail, highlighting its features, benefits, and unique selling points.
- Explain how the product addresses a specific need or solves a problem in the market.
3. **Market Analysis (600 words):**
- Conduct a comprehensive analysis of the market where the product will be launched.
- Identify and describe the target market segment(s), including demographics, psychographics,
and buying behaviors.
- Analyze the competitive landscape, including major competitors, their strengths, weaknesses, and market share.
4. **Marketing Objectives (400 words):**
- Clearly state the marketing objectives for the new product launch.
- Ensure that objectives are specific, measurable, achievable, relevant, and time-bound (SMART).
5. **Marketing Strategies (600 words):**
- Outline the key strategies you will use to achieve your marketing objectives.
- Discuss positioning strategies, pricing strategies, distribution channels, and promotional tactics.
- Explain how each strategy aligns with the target market and product positioning.
6. **Implementation Plan (400 words):**
- Provide a detailed timeline and action plan for implementing your marketing strategies.
- Specify tasks, responsibilities, deadlines, and budget allocation for each marketing activity.
- Include contingency plans to address unforeseen challenges or changes in the market environment.
7. **Evaluation and Control (200 words):**
- Describe how you will measure the success of your marketing plan.
- Identify key performance indicators (KPIs) and metrics to track the effectiveness of your strategies.
- Discuss how you will adjust your plan based on performance data and market feedback.
8. **Conclusion (200 words):**
- Summarize the key points of your marketing plan.
- Emphasize the potential impact of the new product on the market and the value it offers to consumers.
9. **References:**
- Include a list of at least five reputable sources you used for your marketing plan. These can include market research reports, industry publications, or marketing journals.
**Formatting Guidelines:**
- Font: Arial, 11pt.
- Line Spacing: 1.5 spacing.
- Margins: 1 inch on all sides.
- Use headings and subheadings to organize your marketing plan.
**Submission Details:**
- Submit your marketing plan as a Word document or PDF file.
- Include your name and the course title at the top of the first page.
---
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
Related Questions
Creative Homework/Short Project Imagine that you
are building your own e-commerce site. Having
a keen understanding of the importance of de-
fining and putting in place a set of conversions
and metrics in advance of launching the site, you
have incorporated the definitions and develop-
ment of specific conversions for tracking into the
planning of the website. List which actions on
the site would indicate a conversion for track-
ing purposes and how they would align with the
goals of your business. Because this is your web-
site, feel free to assume the inclusion of any sorts
of features or elements (conventional or uncon-
ventional) that you believe would be valuable in
terms of the website's look and feel that would
enable better tracking and analysis of marketing
performance.
arrow_forward
Assignment 2: Business Plan
Word limit: Between 2800 words
Task:
Pursuant to Assignment 1, where you had done a research of an online fashion business, your team is now required to prepare a comprehensive business plan to start a similar business.
Your answer should cover the following aspects:
No. Structure
Word limit (a guide)
1 Registering your business
2 Industry Analysis, Competitor Analysis and Target Customer
3 Marketing Plan
4 Operations and Development Plan 800
5 Management Team
6 Exist Risks
7 Exit Strategy
8 Financial Plan
9 Conclusion
arrow_forward
Assignment Description and Instructions:
As a group of aspiring entrepreneurs, design a business plan for a service-oriented business in the tourism industry in any Caribbean country (not an existing business/company). The Business is a Land and Sea Tours
Key Elements of the Business Plan
Marketing Strategy
This section describes the company’s target market and its characteristics.
Demographic characteristics of target customers.
Number of potential customers.
Customer needs, wants and habits.
Advertising and promotion
Media used
Media costs
Frequency of usage
Plans for generating publicity.
Pricing
Cost structure
Fixed
Variable
Comparison against competitors’ prices
Distribution strategy
Channels of distribution used.
arrow_forward
Executive summary :1-2 paragraph of summary of your plan
Situation analysis
This section presents an analysis of the business environment and the factors affecting your company. It also covers relevant trends and potential crisis issues that your company may face in the coming year(s). An analysis of the marketing includes demographic factors, political factors, technological factors, economic factors and social factors.
A SWOT analysis have to be included also
arrow_forward
Assignment Guidelines for CW:
Please select Coca Cola for Organizational Behaviour audit. Imagine that you were hired for this job.
Structure
Appropriate coversheet (as attached in your assessment section )
Title Page
Contents Page
Introduction (1000 words)
In this section you must introduce your reader to Coca Cola for auditing, highlighting some of significant changes in external environment for businesses / a particular industry over the last 5 years and explaining why this company needs Organizational Behaviour audit.
Discussion should be organised under appropriate headings (2500 words)
You have to provide a detailed examination of 4 OB areas ideally from both mainstream (managerial / functionalist / employer) and critical (social science / human relations / employee) perspective applying relevant theories and concepts. Then briefly analyse the main OB problems identified and their impact on organisational climate and employee well-being in future if actions are not taken…
arrow_forward
1. You are to prepare an annotated bibliography consisting of three (3) academic
journal articles, at least one (1) book and one (1) reference of your choice about a
topic within your area of specialization.
2. Your annotations must be between 150 and 200 words.
3. Use APA 7th edition format.
4. Do not forget to attach the three journal articles when you submit your AT1.
Example:
Assessment Task 1: Annotated Bibliography
Author's last name, First name initial. Middle initial. (Year of publication). Title of the article.
Title of the Journal in Italics, volume number (Issue number), pages used. DOI number
Text more text text. Text more text text. Text more text text. Text more text text. Text
more text text. Text more text text. Text more text text. Text more text text. Text more
text text. Text more text text. Text more text text. Text more text text. Text more text text.
Text more text text. Text more text text. 150-200 words
Author's last name, First name initial. Middle initial.…
arrow_forward
Creative Homework/Short Project As a marketing professional, you have been asked to write a short piece for a local business newsletter about the state of marketing today. You think the best way to address this topic is to review how the marketing concept has evolved and to discuss the triple-bottomline orientation. Write the short article you will submit to the editor of the newsletter.
arrow_forward
1. Define cost analysis using a course resource.
1. Describe two types of cost estimates that can be used in the Marketing Mailing project.
arrow_forward
End-of-Chapter Application Case
Why is beer flavor important to Coors’ profitability?
What is the objective of the neural network used at Coors?
Why were the results of Coors’ neural network initially poor, and what was done to improve the results?
What benefits might Coors derive if this project is successful?
What modifications would you make to improve the results of beer flavor prediction?
arrow_forward
TASKS TO BE COMPLETED
1. BUSINESS NAME
2. LOGO
3. TAGLINE
4. BRAND FASCINATION
arrow_forward
Assignment 2. Write an essay (1 page A4) on the topic:
“Business Ethics and Commercial success what would you prefer?”
arrow_forward
This assignment gives you the opportunity to evaluate and critically analyse aspects of
marketing management. You are required to write a formal business report that covers the
assessments tasks set out below. The performance and grading are according to BSBI's&
CA's grading criteria.
Assignment Tasks:
You are required to produce an academic report, in line with the learning outcomes of this
module. These are outlined above.
It is therefore essential that you support your findings and proposals with research from the
body of strategic marketing management literature. As this is a level seven assignment, you are
expected to show evidence of extensive reading, beyond the basic module materials.
Choose a company from the Hospitality or Tourism Industry and critically Analyze and Report
on the case based on the questions in the next page:
arrow_forward
Writing Activity 2. E-Mail or Direct Mail
Sales Message: Promoting Your Product or
Service Identify a situation in your current job
or a previous one in which a sales letter is or
was needed. Write an appropriate sales
message that promotes a product or service.
Use actual names, information, and examples.
If you have no work experience, imagine a
business you would like to start: word
processing, pet grooming, car detailing,
tutoring, specialty knitting, balloon decorating,
delivery service, child care, gardening, lawn
care, or something else.
Your Task. Write a sales letter or an online e-
mail message selling your product or service to
be distributed to your prospective customers.
Be sure to tell them how to respond.
arrow_forward
Strategic Liberty University Human Resource Audit Write a 2,000-word (minimum word count excluding your references section) paper.Provide 3 distinct sections for both your paper.Section 1: profile of the Liberty University (e.g. corporate strategy, revenue base, financialperformance, employee base, ownership structure, product/service mix, competitiveposition, primary locations for operations, etc.).Section 2: analysis and assessment of the strategic and theological soundness of the HRpractices of the Liberty University (paying special attention to HR strategy, staffing,training and development, performance management, compensation, and labor relations).Section 3: posit 5–7 key recommendations for improving the strategic and theologicalsoundness of the HR practices of the Liberty University.
arrow_forward
Name of the company : Johnson & Johnson: Pharmaceuticals Product Group
A detailed summary of the company that includes an overview, its sales structure, key products, and other relevant information
Description of a business-to-business sales function that you could perform for this company, including a short draft list of possible products/services you could represent
arrow_forward
1. What are the meaning of these business reports; incident report, trip report
and progress report?
2. What are the difference between Business Proposal and Executive
Summary?
arrow_forward
1) briefly discuss the elements of a successful business plan presentation?
2) briefly discuss the elements of a process map
arrow_forward
Question text
Which is NOT considered as long-term plan?
a.
Rules
b.
Objectives
c.
Policy
d.
Strategy
Clear my choice
arrow_forward
Q8
Which of the following would be distributed to public officials, financial analysts, special-interest groups and influential decision-makers?
Select one:
a. news release
b. byliner
c. position paper
d. brochure
arrow_forward
Introduces the topic of the report of global bike Group in an extremely engaging manner which arouses the reader's interest. Gives a detailed general background and indicates the overall "plan" of the paper.
arrow_forward
What would be a job title for the job description.
SUMMARY: Develops and implements the strategic online marketing plans. Stays abreast ofchanges in the online marketing environment to best serve the objectives of the company andadjusts plans accordingly. Responsible for overseeing other aspects of the e-commerce site suchas advertising and content components.Manage all site development and online information: 50%• Direct internet strategy and manage overall e-commerce site presence and effectiveness.• Develop plans for enhancing e-commerce site and present recommendations to marketingdirector and senior executives.• Support specific business objectives and enforce the company’s brand image online.• Design and set standards for the look-and-feel of the entire site.• Oversee all web development, testing/proofing, publishing, and archiving.• Negotiate online related contracts.• Act as point person for all e-commerce initiatives. Manage internet marketing team.
Manage development and…
arrow_forward
SWOT Analysis
Give 3 of your personal Strengths and 3 Weaknesses that you think you have and explain how your
strengths can give you Opportunities and how your weaknesses can be a Threat to your personal
improvement.
INSTRUCTIONS:
-The explanation should NOT be more than 150 words.
Answers should be written in English.
:
●●●
arrow_forward
From subject report writing skills:
Q: ‘Proposal’ is a form of technical writing. It is composed both in academic and business settings. What is the difference between the two?
arrow_forward
Discussion Question I: Describe the four strategic postures associated with the strategic position and action evaluation.
A minimum of 350 words. Be sure to include the word count and Grammarly Performance Score.
Supported by one (1) peer-reviewed source is recommended
arrow_forward
Please help we need the following the product is BANANA BREAD
INTRODUCTION
I. Description of the Business
II. Products being manufactured- discuss the characteristics of each product to be manufactured
III. Process of making the product- discussion of each phase of the process to the finalization of the product to be delivered
IV. Vision, Mission and Values of the business
V. SWOT Analysis- there is a need to have a discussion of each element of the SWOT. Provide at least 5 entries per SWOT.
arrow_forward
The Vice President of Corporate Communications has charged your department, with the task of planning the awards function for the sales representatives, with a budget of $3 million. This plan is to be presented to the senior management team for approval.
What are some goal and objectives of this plan?
arrow_forward
Research title: The Impact of Logistics and Supply Chain Management on Business Performance.
Explain the data collection method.
In-Depth Interviews and Focus Group Discussions
Give example
Questionnaire to be developed and submitted and demographic questions
Give examples of 15 questions
Explain the data analysis procedures.
arrow_forward
SEE MORE QUESTIONS
Recommended textbooks for you
Principles Of Marketing
Marketing
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Pearson Higher Education,
Marketing
Marketing
ISBN:9781259924040
Author:Roger A. Kerin, Steven W. Hartley
Publisher:McGraw-Hill Education
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Marketing: An Introduction (13th Edition)
Marketing
ISBN:9780134149530
Author:Gary Armstrong, Philip Kotler
Publisher:PEARSON
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning
Related Questions
- Creative Homework/Short Project Imagine that you are building your own e-commerce site. Having a keen understanding of the importance of de- fining and putting in place a set of conversions and metrics in advance of launching the site, you have incorporated the definitions and develop- ment of specific conversions for tracking into the planning of the website. List which actions on the site would indicate a conversion for track- ing purposes and how they would align with the goals of your business. Because this is your web- site, feel free to assume the inclusion of any sorts of features or elements (conventional or uncon- ventional) that you believe would be valuable in terms of the website's look and feel that would enable better tracking and analysis of marketing performance.arrow_forwardAssignment 2: Business Plan Word limit: Between 2800 words Task: Pursuant to Assignment 1, where you had done a research of an online fashion business, your team is now required to prepare a comprehensive business plan to start a similar business. Your answer should cover the following aspects: No. Structure Word limit (a guide) 1 Registering your business 2 Industry Analysis, Competitor Analysis and Target Customer 3 Marketing Plan 4 Operations and Development Plan 800 5 Management Team 6 Exist Risks 7 Exit Strategy 8 Financial Plan 9 Conclusionarrow_forwardAssignment Description and Instructions: As a group of aspiring entrepreneurs, design a business plan for a service-oriented business in the tourism industry in any Caribbean country (not an existing business/company). The Business is a Land and Sea Tours Key Elements of the Business Plan Marketing Strategy This section describes the company’s target market and its characteristics. Demographic characteristics of target customers. Number of potential customers. Customer needs, wants and habits. Advertising and promotion Media used Media costs Frequency of usage Plans for generating publicity. Pricing Cost structure Fixed Variable Comparison against competitors’ prices Distribution strategy Channels of distribution used.arrow_forward
- Executive summary :1-2 paragraph of summary of your plan Situation analysis This section presents an analysis of the business environment and the factors affecting your company. It also covers relevant trends and potential crisis issues that your company may face in the coming year(s). An analysis of the marketing includes demographic factors, political factors, technological factors, economic factors and social factors. A SWOT analysis have to be included alsoarrow_forwardAssignment Guidelines for CW: Please select Coca Cola for Organizational Behaviour audit. Imagine that you were hired for this job. Structure Appropriate coversheet (as attached in your assessment section ) Title Page Contents Page Introduction (1000 words) In this section you must introduce your reader to Coca Cola for auditing, highlighting some of significant changes in external environment for businesses / a particular industry over the last 5 years and explaining why this company needs Organizational Behaviour audit. Discussion should be organised under appropriate headings (2500 words) You have to provide a detailed examination of 4 OB areas ideally from both mainstream (managerial / functionalist / employer) and critical (social science / human relations / employee) perspective applying relevant theories and concepts. Then briefly analyse the main OB problems identified and their impact on organisational climate and employee well-being in future if actions are not taken…arrow_forward1. You are to prepare an annotated bibliography consisting of three (3) academic journal articles, at least one (1) book and one (1) reference of your choice about a topic within your area of specialization. 2. Your annotations must be between 150 and 200 words. 3. Use APA 7th edition format. 4. Do not forget to attach the three journal articles when you submit your AT1. Example: Assessment Task 1: Annotated Bibliography Author's last name, First name initial. Middle initial. (Year of publication). Title of the article. Title of the Journal in Italics, volume number (Issue number), pages used. DOI number Text more text text. Text more text text. Text more text text. Text more text text. Text more text text. Text more text text. Text more text text. Text more text text. Text more text text. Text more text text. Text more text text. Text more text text. Text more text text. Text more text text. Text more text text. 150-200 words Author's last name, First name initial. Middle initial.…arrow_forward
- Creative Homework/Short Project As a marketing professional, you have been asked to write a short piece for a local business newsletter about the state of marketing today. You think the best way to address this topic is to review how the marketing concept has evolved and to discuss the triple-bottomline orientation. Write the short article you will submit to the editor of the newsletter.arrow_forward1. Define cost analysis using a course resource. 1. Describe two types of cost estimates that can be used in the Marketing Mailing project.arrow_forwardEnd-of-Chapter Application Case Why is beer flavor important to Coors’ profitability? What is the objective of the neural network used at Coors? Why were the results of Coors’ neural network initially poor, and what was done to improve the results? What benefits might Coors derive if this project is successful? What modifications would you make to improve the results of beer flavor prediction?arrow_forward
- TASKS TO BE COMPLETED 1. BUSINESS NAME 2. LOGO 3. TAGLINE 4. BRAND FASCINATIONarrow_forwardAssignment 2. Write an essay (1 page A4) on the topic: “Business Ethics and Commercial success what would you prefer?”arrow_forwardThis assignment gives you the opportunity to evaluate and critically analyse aspects of marketing management. You are required to write a formal business report that covers the assessments tasks set out below. The performance and grading are according to BSBI's& CA's grading criteria. Assignment Tasks: You are required to produce an academic report, in line with the learning outcomes of this module. These are outlined above. It is therefore essential that you support your findings and proposals with research from the body of strategic marketing management literature. As this is a level seven assignment, you are expected to show evidence of extensive reading, beyond the basic module materials. Choose a company from the Hospitality or Tourism Industry and critically Analyze and Report on the case based on the questions in the next page:arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Principles Of MarketingMarketingISBN:9780134492513Author:Kotler, Philip, Armstrong, Gary (gary M.)Publisher:Pearson Higher Education,MarketingMarketingISBN:9781259924040Author:Roger A. Kerin, Steven W. HartleyPublisher:McGraw-Hill EducationFoundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
- Marketing: An Introduction (13th Edition)MarketingISBN:9780134149530Author:Gary Armstrong, Philip KotlerPublisher:PEARSONContemporary MarketingMarketingISBN:9780357033777Author:Louis E. Boone, David L. KurtzPublisher:Cengage Learning
Principles Of Marketing
Marketing
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Pearson Higher Education,
Marketing
Marketing
ISBN:9781259924040
Author:Roger A. Kerin, Steven W. Hartley
Publisher:McGraw-Hill Education
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Marketing: An Introduction (13th Edition)
Marketing
ISBN:9780134149530
Author:Gary Armstrong, Philip Kotler
Publisher:PEARSON
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning