Peleton

Over the next few weeks, you will work on an assignment to apply course material to build an abbreviated marketing plan to launch a new product you create for a brand that sells at-home workout and fitness programs. Select Peloton, FightCamp, NordicTrack, or MIRROR Please select your firm from the following four options: Peloton, FightCamp, NordicTrack Vault, or MIRROR. Your job is to imagine you are part of the marketing team at one of these firms. You will develop a marketing plan pitch to share your ideas for launching a new product with senior managers. A new product launch is a good domain to apply your knowledge of segmentation, targeting, and positioning, since at home fitness products often launch new products to address the needs of specific segments within their target audience and/or to grow their share of customer or upsell their existing customer base. New items offered by these firms could be targeted at almost any segment of the population based on benefits sought or lifestyle choices. Create the Marketing Plan for the New Product Launch For this assignment, you will be creating an abbreviated version of the Marketing Plan for the new product with six parts, as outlined below: 1. Executive Summary (and Appendix) 2. Company Analysis 3. Market, Consumer, and Competitive Analysis 4. Situation Analysis and Marketing Objectives 5. Marketing Strategy 6. Digital Marketing Strategy 7. Budget 8. Controls 9. Appendix 10. Bibliography Part 6 - Digital Marketing Strategy The Digital Marketing Strategy section describes your planned use of digital tools such as the Internet, social media, and mobile phones. It also includes samples of the digital content you will use, including advertisements, images, and written content or copy you will use on websites and social media channels, which are collectively known as creative. Your Digital Marketing Strategy section should address the following questions: - How will digital tools be used to promote the new item? Will you use events? Will you use A/B testing? - How will you encourage consumers to show the item or themselves consuming/using/reviewing the item or service on social media? - How will you encourage consumers to spread positive word of mouth? - What influencers would you want to help spread the word? Why did you select them? - How will you track the success of different promotional efforts? 4 - How will your digital strategy be presented to consumers? Create digital content, examples of the creative for your campaign