Now that you have defined your goals and conducted your situation
analysis, it’s time to create a strategy to help you to achieve your
goals. Next, you will complete your Marketing Strategy. In the
Marketing Strategy, the marketing manager defines the company’s
strategies for increasing sales and gaining a competitive advantage.
Complete Marketing Strategy by providing 1-2 paragraphs about each of the following items:
- Positioning Strategy: Discuss your strategy for
positioning and differentiating your product. What market segments will
you target? What is your value proposition? Discuss how you will
differentiate your product from similar competing brands.
- Product Strategy: Discuss your product and strategy for building a strong brand.
- Pricing Strategy: Determine how you will price
your product or service. Talk about how you expect to remain
competitive with your pricing and still earn a return on your
investment. How will your product price compare to the competition?
Don’t forget to take all of your variable and fixed costs into account
when defining your pricing strategy.
- Distribution Strategy: How do you intend to get
your product into the hands of the consumer? Incorporate the use of the
Internet and other technologies in your Distribution Strategy. Also,
discuss a traditional method for distribution such as, mail, retail,
sales representatives, etc. Finally, specify the exact distribution
channel that you will be using. Distribution channels include: direct
distribution channel (product goes directly from manufacturer to
consumer), or indirect distribution channel where intermediaries are
used. An example of an indirect distribution channel would be the
product going from the manufacturer to the wholesaler to the retailer
to the customer or from manufacturer to retailer to consumer.
- Marketing Communications Strategy: Your
communications strategy must incorporate traditional methods, as well
as methods utilizing the Internet and Social Media. Discuss the
elements of the promotion mix that you will use to promote your
- Marketing Research: Describe your plans for
market research. What will be your approach and which tools will be
utilized? How will you conduct your studies and what will you be
Attached is a paper that can help with this assignment