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Developing Marketing Strategy for a New Product

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Create a product or service (do not choose an existing brand) OR select a product or service from the following list: cell phone, video game, motorcycle, perfume, hair salon, toothpaste, website design consulting business, online dating service, auto body shop.

Using the course resources, develop an environmental analysis, marketing strategy, and marketing mix for this product.
Consider if your selected product is affected by environmental factors (Political, Economic, Socio-cultural, Technological, Competitive). If so, how?

Include a description of the target market and positioning (how customers perceive your product or service). Include a detailed overview of each element of the marketing mix (product, price, distribution, and marketing communications).

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Solution Summary

This solution gives you environmental analysis, marketing mix and marketing strategy. It provides an example for creating a new product/service to apply these concepts in real life.

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Create a product or service (do not choose an existing brand) OR select a product or service from the following list: cell phone, video game, motorcycle, perfume, hair salon, toothpaste, website design consulting business, online dating service, auto body shop.

The product selected is Website Design:
Using the course resources, develop an environmental analysis, marketing strategy, and marketing mix for this product.
Consider if your selected product is affected by environmental factors

Political. Currently, there is general political stability, the US is not likely to be invaded by any country and there is excellent intellectual property protection. This is conducive for website development business. There are no pricing regulations that affect website development, the legal framework and ...

Solution provided by:
Hatim Baxamusa, MBA
Education
  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
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