You will now compile your comprehensive marketing strategy for your innovative product’s market entry.
Include the following items in your marketing strategy:
The Executive Summary – Provide a concise outline of your marketing strategy here.
Background – Concisely share your (i) business goals, (ii) marketing goals, (iii) financial goals, (iv) challenges.
Market Analysis – Concisely describe your (i) strengths, (ii) weaknesses, (iii) opportunities, and (iv) threats. Also include a description of (a) the market size, (b) market segments, and (c) any external factors that can impact your market (e.g., economic, seasons, etc.)
Target Audience – How many different segments will you target?
Describe the demographics, lifestyles, purchasing power, buying patterns, etc. for each segment.
Competitive Analysis – in Week 5, you studied two competitors.
Innovative Product description
Pricing Strategy – select the one most appropriate from the two discussed in week 5
Distribution Strategy – share what you discussed in Week 5 assignment
Promotional Strategy (including the message) – share what you discussed in Week 5 assignment
Compare your marketing strategy with the strategies of the 2 competitors you discussed in week 5. Evaluate the similarities and differences in their marketing strategy approach with the strategy you have developed for your innovative product. Use a table to display your findings.
Insert assignment instructions that clearly and concisely define what the student must do to complete the assignment. Refer to the School Design Guide for additional assignment expectations.
Length: 10-12 pages not including title page and reference.
References: Include a minimum of 5 scholarly references.
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