Developing Marketing Strategies

Pretend you have been hired as Director of Marketing and Planning in time for a company’s anticipated introduction of a new product or service. For your first assignment, you are asked to provide a rudimentary market analysis and promotion mix for the introduction of a new product offering. You will present this information to the Senior Vice President of Marketing, as well as to others in upper management. They will compare your suggestions to suggestions developed earlier and are hoping to receive fresh, new insights into how they will identify, attract, and capture their desired audience. Although you want to make a great impression, you also know that, since they very well may give the implementation of the plan back to you, your presentation needs to be as realistic as possible.

You must cite all resources used and include an APA-formatted bibliography. Your Activity responses should be both grammatically and mechanically correct, and formatted in the same fashion as the Activity itself. If there is a Part A, your response should identify a Part A, etc. (100 points) (A 3-page response is required for the combination of Parts A, B, C, and D.)

Part A Choose the type of company you work for and write a description of the company that includes the following.

1. The Industry You Operate In

2. Product Lines

3. Total Number of Employees

4. Annual Revenue

5. Top Competitor

6. Any Other Relevant Information

Part B Write an overall description of the new product you will be promoting. Include four (4) product features and one (1) benefit for each feature.

Part C Identify and describe the three (3) primary market segments (target markets) you will promote to; in each description, identify two (2) demographic and one (1) psychographic characteristic.

Part D Develop a list of five (5) marketing activities you recommend to promote this new product. Include the reason why you believe each of the marketing activities will be successful.

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