Take a new product (product - not a service) through the product development cycle and tie it to a marketing plan. U will select a proposed product and act as if you are bringing it to market
Product
My product is called "Fresh-Fit" It’s a material/technology you place in your apparel to prevent you from sweating through them, preventing stains. It is a patch-like material with an outlined adhesive tape that sticks to the inside of your appeal. With optional sizes and colors. For example, it is place on the inside of your shirt on the armpit area. It will serve as an extra layer of protection, to prevent the discoloration cause from sweat and deodorant. It is washable as well. Send message if need more if have any questions/
Marketing Plan Outline
I. Executive Summary
A high-level summary of the marketing plan—what is your product and value to the marketplace.
II. The Challenge
Brief description of product to be marketed and associated goals, such as sales figures and strategic goals. Who is the primary target market?
III. Situation Analysis
Company Analysis
Goals
Focus
Culture
Strengths
Weaknesses
Market share
Customer Analysis
Number
Type
Value drivers
Decision process
Concentration of customer base for particular products
Competitor Analysis
Market position
Strengths
Weaknesses
Market shares
Climate
Macro-environmental PEST analysis:
Political and legal environment
Economic environment
Social and cultural environment
Technological environment
SWOT Analysis
A SWOT analysis of the business environment can be performed by organizing the environmental factors as follows:
The firm's internal attributes can be classed as strengths and weaknesses.
The external environment presents opportunities and threats.
IV. Market Segmentation
Present a description of the market segmentation as follows:
Segment 1-Primary Target Market
Description
Percent of sales
What they want
How they use product
Support requirements
How to reach them
Price sensitivity
Segment 2 –Secondary Target Market
.
.
.
V. Alternative Marketing Strategies
List and discuss the alternatives that were considered before arriving at the recommended strategy. Alternatives might include discontinuing a product, re-branding, positioning as a premium or value product, etc.
VI. Selected Marketing Strategy
Discuss why the strategy was selected, then the marketing mix decisions (4 P's) of product, price, place (distribution), and promotion.
Product
The product decisions should consider the product's advantages and how they will be leveraged. Product decisions should include:
Brand name
Quality
Scope of product line
Warranty
Packaging
Price
Discuss pricing strategy, expected volume, and decisions for the following pricing variables:
List price
Discounts
Bundling
etc
Distribution (Place)
Decision variables include:
Distribution channels, such as direct, retail, distributors & intermediates
Motivating the channel - for example, distributor margins
Criteria for evaluating distributors
Locations
Logistics, including transportation, warehousing, and order fulfilment
etc
Promotion
Advertising, including how much and which media.
Public relations
Promotional programs
Budget; determine break-even point for any additional spending
Projected results of the promotional programs
Integrated Marketing communications
etc
VII. Short & Long-Term Projections
The selected strategy's immediate effects, expected long-term results, and any special actions required to achieve them. This section may include forecasts of revenues and expenses as well as the results of a break-even analysis.
VIII. Conclusion
Summarize all of the above.
Appendix
Exhibits
Calculations of market size, commissions, profit margins, break-even analyses, promotional calendar, etc.
