Marketing Plan ProjectPhase I75 pointsSelect a product or service for which you will create a marketing plan. You will use the same product for all 4 phases of the marketing plan.This project (4 Phases) is REQUIRED to earn a passing grade for this course. Students who do not complete a Marketing Plan Project will receive an 'F' for this course as this is a requirement from the Ohio Department of Higher Education.PROOUKT BACKGROUND (5 points)Provide background information on the product such as its purpose, uses and the needs that it fulfills functional and psychological and its position in the market place vs. ils competitors.PRODUCT HISTORY (5 points)Provide historical information on the company and product.CURRENT MARKETING STRATEGY (65 points)Target market 5 pointsProduct 15 pointsPrice 15 pointsPlace 15 pointsPromotion 15 pointsDescribe the primary consumer of your product.Compare your product's features w/th those of the lop 2 competitors. Discuss unique elements that help to distinguish your product from its competitors.Evaluate and compare the different brands, slaes, packuging, quantiles, and features.Compare the packages for your product and ils top 2 competitors. Discuss the unique visuals and mewages found on your product that help to distinguish if from the competitors and represent the quality of the product.Compare pricing for the products in this category. Determine a price per unit comparison (create a table or spreadsheet to illustrate, if helphulpEvaluate the retail channels and retailers that the product is sold through. Discuss how the product placement within the store affects sules and customer perception.Identify the different types of media used to advertise your product. Ivaluate the messages used in the advertisements and discuss their effectiveness is maling consumers buy the product. Evaluate messaging specific to your product.