As the AI Brainstorming Conference moves into its second week, it is time to begin developing a Marketing Strategy. The first three components you will discuss are your Mission Statement, Objectives and Product/Services features.
MAIN DISCUSSION POST: Due by Sunday
1.Provide a quick overview of the product or service you created on the Unit 1 DB (2-3 sentences only). NOTE: The overview will be used for each discussion and Project
2.State the features of your product. Show how it's innovative and different. Discuss legal and ethical implications that could affect the marketing process.
3.Create a Mission Statement.
4.State your short-term MARKETING objectives (one year). Assume that the product/service is ready to launch at the beginning of the year (planning and testing have been completed).
-Marketing objectives include goals for sales, profits, market share (as examples)
-Objectives need to be quantifiable. Use the SMART acronym's simple, measurable, achievable, relevant, and time-specific?"in formulating your objectives. An objective with a 100% goal is not acceptable.
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Tree Ties are a new and different type of decoration specifically made for spanning the size of a tree. The tie will come in popular tie styles and new and different designs and colors will be introduced for seasons, events, and to help people match their moods and personality. Tree Ties are like nothing else on the market and can set apart a home in the cookie cutter neighborhood. The most important thing is the Tree Tie is easily put up and taken down. While items such as flags and yard decorations are often at odds with homeowners associations, ties should not be an issue because they are tree decorations.
Marketing conferences are examined.
The AI Brainstorming Conference topic for this week is pricing strategy: a component of the marketing mix. Consider the Mission, Objectives, Target Market, Competition, Core Strategy, and Communications & Promotions when making a decision on how pricing will be determined.
1.Provide a quick overview of the product or service (the same content you used in the U3 IP).
2.Discuss what pricing objectives you would consider for your product/service.
3.Identify the pricing objective and strategy you will ultimately choose and explain why.
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