Marketing Strategy Development
a. The fourth step is marketing strategy development that involves designing primary marketing strategy for a fresh product depends on the manufacture concept.
b. A marketing plan statement should be manufactured. This is a statement of the planned strategy for a fresh product that outlines the intended target market, the designed product positioning, market share, the sales and profit targets for the first few years.
1). The statement also outlines the product's scheduled price, delivery, and marketing budget for the first year.
2). At last, the marketing plan statement explains the planned long-run sales, profit goals, and marketing mix plan.