Develop a Marketing Strategy, a Situational Analysis and a Marketing Plan for introducing a new product( C
Question:
Develop a Marketing Strategy, a Situational Analysis and a Marketing Plan for introducing a new product( C (not in the current portfolio or in the company's innovation pipeline) to the market to increase overall sales of your company. The product is Channel brand women's furniture.
Part 1: Introduction
Define your company and provide a brief introduction of its current strategy and current product portfolio. You will also talk about how the company can benefit from potential growth with the new product (maybe talk about a link between the current products in the portfolio and how it is a good idea to launch your product)
Part 2: Marketing Strategy for New Product
Marketing Strategy (Segmenting, Targeting & Positioning) for the new product: Describe the target market for the new product and the positioning you intend to implement. Talk about your customer's persona and elaborate on the positioning using a well-crafted
POP and POD analysis and finally make sure you present a good positioning map of your brand.
Finally, provide the Marketing Objective of the new product in the first year of operations.