Marketing Plan Phase 3, management homework help

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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:

Marketing Strategy

  1. 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.
  2. Product Strategy: Discuss your product and strategy for building a strong brand.
  3. 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.
  4. 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.
  5. 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
    product.
  6. 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
    measuring?

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