Develop a marketing plan for a MNP Corporation which is a clothes company. The plan should cover the following items, using the order set down in the marketing plan:
a. Describe the product/service and the key characteristics of the market being entered.
i. Describe how the market is growing
b. Why are you introducing this product/service now?
i. What need or demand in society are you trying to fill?
c. Who is your Target Market?
i. Key demographics
ii. Key psychographics
d. Who are your competitors?
i. How will you position your product in the marketplace compared to the competition?
ii. What are possible substitute products? How will you compete with substitute products?
e. What are the barriers to entering/exiting the market you have chosen?
f. How will you promote your product/service?
i. What sources of media placement will you choose?
ii. How will you break through ad clutter?
g. Where will you place your product/service?
i. Will you sell direct to consumer; or will you work through a traditional distribution system? Joint venture? Subsidiary?
h. What will be the price of your product/service?
i. How did you arrive at the price you selected?
ii. What pricing strategy will you utilize in the introduction phase?
i. What are the ethical issues that need to be addressed?
j. What are the legal issues that need to be addressed?
k. What are the currency issues that need to be addressed?
l. What are the safety issues that need be addressed?
m. How will you obtain labor and balance labor cost with profit?
n. What is your assessment of risk(s)?
o. What additional information do you need in order to make a final entry implementation?
Outline a detail response for each of these topics. In other words, demonstrate how well you develop the understanding of theory and concepts discussed in the course.