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.
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?
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Marketing is an integrated process through which companies creates value for the customer and builds story value from the customer in return. The basic, tactical components of a marketing plan, also known as the Four P's, are the marketing mix elements of price, place, product, and promotion. When marketing their products firms need to create a successful mix of:
- The right product
- Sold at the right price
- In the right place
- Using the most suitable promotion.
The company will capture market share by strong product ...
This solution discusses the marketing mix, product differentiation and why certain channels should be used for the company to focus its marketing plan to reach its target market. This solution is 600 words with five online references.