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Discuss a basic marketing plan to bring your new product idea to the attention of the public and help your product be successful. Make sure to include the following in your response:

Given the information you have researched on the industry and market for the product that your group will introduce, what specific channels would you use to get the word out to potential customers?
How would you plan to capture the market share you have promised to your CEO? Explain the target market, message, the mediums you would use, their costs, and so forth.
Suggestions for Responding to Peer Posts

Compare the details of the target market, message, mediums, their costs, etc. of your peer to your own.
What similarities or differences can you find?
Were there any considerations that were missed by you or your peer?

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Solution Summary

The response addresses the queries posted in 601 words with references.

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The response addresses the queries posted in 601 words with references.
­// In this document, a basic marketing plan with the launch of a new product in an automobile industry is being discussed with the description of other issues like capturing market share, targeting the population segment and being cost effective. //

A marketing plan should include the decision of board of directors and top management. It should also consider the views and thoughts of the managers and line personnel. When the market is analyzed, the want s of customers, their problems, and benefits they are seeking for are to be paid attention. These things can only be extracted by the marketing team because they are the people who maintain direct interaction and relations with customers.

The marketing plan should always be coupled with strategic plans. When it comes to the development of ...

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  • MBA (IP), International Center for Internationa Business
  • BBA, University of Rajasthan
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