Detailed Explanation to Marketing Plan
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Select a product or service that you would like to introduce to the marketplace. It may be a product or service from an existing company or a new concept.
· Prepare an word outline of a Marketing Plan for your selected product/service.
Include the following elements in your outline:
· A brief description of the product/service being offered.
· An analysis of the market in which the product/service will be offered.
i. Size and demographics of the markets
ii. Potential competitors (if any)
· An analysis of the marketing strategies that will be used for the introduction of the
product/service.
i. Pricing
ii. Promotion
iii. Distribution
iv. Sales support
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Marketing Plan
Product introduction is the first stage of product life cycle. The new product introduced to the market by the existing company is a shampoo for both male and female. The company has to prepare a market plan for this product. The market plan would have a full description of the new product, the target market for this, size and demographics of the market, potential competitors of the product and marketing strategies like price, promotion, place and sales support.
The new product "Shampoo" is for both males and females. The product is available in different packs like sachets and bottles. The shampoo has all the nutrients like proteins, vitamins and other essentials for improving the hair quality. The shampoo will improve the shining as well as growth of the hair. The shampoo does not have any side effects on the skin and hair. Thus, it is a perfect product to introduce in the market.
The company has to select a target market for this new product. The selected market for this shampoo is the middle class ...
Education
- MBA (IP), International Center for Internationa Business
- BBA, University of Rajasthan
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