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Marketing Strategy for a New Product Category

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Imagine you have been promoted to a brand manager for a frozen pizza. The promotion is a challenge being that sales for the pizza have gone backward three years in a row. Assess what you will need to know or what questions need to be answered before you can size up what is not working about the current strategy.

Decide on a category of product that's been released recently (not a newly-released version of an existing product line like an iPhone4) and develop a marketing strategy that will enable your team to assess this product's success over the year it's launched.

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Solution Summary

The marketing strategy for a new product category is examined.

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The promotion of a product is conducive to the targeted demographic audience needs and wants by sending a great advertising message. In assessing the proper plan of action, the business company should focus on the beneficial aspect in delivering a great product through marketing strategies. The foremost objective is in the concept relating towards building brand awareness and brand equity for increasing the consumer share marketplace. In the case scenario, Pizza Company's product, the following core assessment, the important questions to deciphering the most effective application of a marketing strategy relates to:

1. Defining the core consumer demographic.

The right consumer demographic is imperative for assuring the right customer will purchase the product or service after experiencing / viewing the ...

Solution provided by:
Nichel Anderson, MBA, PhD (IP)
Education
  • BA, American Intercontinental University
  • MBA, American Intercontinental University
  • PhD (IP), Grand Canyon University
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