Reference no: EM133499406
Case Study: propose a marketing strategy for the price, placement, and promotion of your product or service, based on your analyses of the previous two sections . This is where the key details of your marketing plan will be communicated to stakeholders. Your strategy must be supported by your market research.
Specifically, the following critical elements must be addressed:
Marketing Strategy: In this section of the project, you will propose a marketing strategy for the price, placement, and promotion of your product or service, based on your analyses of the previous two sections. This is where the key details of your marketing plan will be communicated to stakeholders. Remember that your strategy must be supported by your market research.
Product
Describe the key attributes of your sport product or service that make it a value for consumers. Support your position with research. Consider the following within your description: What are the features that are both appealing to consumers and different from competitors' products? Why should consumers purchase this product instead of the competitors' products?
Price
Analyze the pricing standards of the industry for comparable products or services.
Propose a pricing structure for your product or service. Justify the pricing based on your analysis of comparable products or services.
Place
Analyze the current distribution channels for comparable products or services, including the prominence of online buying within the industry.
Propose a placement and distribution structure for your product or service. Justify the structure based on your analysis of current distribution channels within the industry.
Promotion
Propose a high-level promotion and advertising strategy for your product or service, including how you plan to attract new customers and retain existing customers. Support your strategy with specific examples.
- Explain what social media campaigns will be part of your strategy. Justify your strategy with research.
- Explain what promotional events will be part of your strategy. Justify your strategy with research.
- Explain what sponsorship activation will be part of your strategy and how this will be communicated to potential customers. Justify your strategy with research.