You are still working for Paperchase. (link: paperchase . com )

Your next task is to develop a marketing strategy to gain competitive advantage in the market. You need to come up with a new product (remember that there are different forms of developing a new product) and develop a competitive strategy and marketing plan to launch this new offering. It is important that the new product is in line with the brand. The sections that you need to include are:

• Branding strategy: explain the brand strategy of the company, developing the brand prism and describing the brand personality.

• Product strategy:

o Include all the layers of the product they will offer: What core need does the product refer to? What is the actual product/service (features, variety, technicalities...)? What is the augmented product? (e.g.: warranty).

Pricing strategy: o What is the pricing strategy for this new product? What are the price tiers? How is this competitive and/or related to the target audience?

Place strategy: o What is the distribution channel strategy? How many levels does it have? How is it managed?

Promotional strategy: o What is the main message that they want to convey to customers? What tone should they use to communicate (formal, casual, educational...)? What promotional channels do they use? List owned, paid, and earned media.

Competitive strategy:

o Considering all previous elements, should the company focus on an attack or defense strategy? Why? Explain the type of marketing tactics that you would implement to fulfill these strategies.

Remember to include quality references and good in-text citations.