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Company name: Hampton Ship Building company
Product: personal recreational motorized boats, Eco-friendly
Approach Model: Entrepreneurial

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:

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.

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The response addresses the queries posted in 839 words with references.

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The response addresses the queries posted in 839 words with references.
// In this paper, we will discuss a newly launched Ship Building company, which has developed a new recreational motorized boat. Different marketing channels used by the company to reach to its target market will also be discussed in detail. Target market will be defined and its relevance in current paper will be described in detail.//

A marketing plan is an integral part of the overall business plan. A marketing plan must include certain characteristics, which are important to the fulfillment of the objectives. Some of these are clear, quantified, focused, realistic, and agreed. The smooth flow of products from the producer to end-user takes place with the help of intermediaries, who can bridge the gap. Marketing channels as intermediaries reduce the amount of time and expenditure of the manufacturer by reducing the number of contact points between the point of production and the point of consumption. The primary task of marketing channels is to move the goods from the producer to end user. Marketing channels can take different forms and can be applied to different organizations in various ways (Lamb, Hair & McDaniel, 2011).

Manufacturers can use direct channel to sell and distribute their products to the end-user. In direct marketing, the company can adopt activities, such as telemarketing, mail order and catalog shopping. When a manufacturer selects two or more ...

Solution provided by:
Ashish Sharma, MBA (IP)
Education
  • MBA (IP), International Center for Internationa Business
  • BBA, University of Rajasthan
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