Based on the company’s mission and goals status in the market current target market(s) and brand power you will develop a Marketing Plan for the new product/brand extension.
Principles of Marketing – Marketing Plan: Part 1
The market plan is the fashion industry and target market is recently single women in their 20s.
You are a Chief Marketing Officer (CMO) recently hired to develop a new product line or brand extension for a company’s product/brand (Note: students choose the company and brand/product). Based on the company’s mission and goals status in the market current target market(s) and brand power you will develop a Marketing Plan for the new product/brand extension.
The organization you choose needs to be a publicly-traded company thus allowing you to gain access to its financial data and market performance. It cannot be a privately-owned company nor a start-up. The new product or brand should relate to the company’s mission and target market(s) or to a lucrative new market segment. The decision is yours.
This is a RESEARCH based paper comprised of the following sections.
* Industry / Competitive Analysis – This is ALL research based on your industry
* Brand Analysis – This is research on the company/brand
* SWOT / Brand Analysis – This is also research based in terms of opportunties and threats in the marketplace
*Based on the above sections you should be able to put
together well composed SWOT analysis.
please note everything should be APA Style
Follow the outline provided in the assignment – same order – same subheads
* Industry Analysis – This is the over-arching umbrella industry you are operating in (ex. fashion hotel automotive eye wear footwear sunscreen airlines)
*Market share for each
*Growth potential or trends
* Brand Analysis – This is the brand you choose to be a part of (should be one of the market leaders you mentioned above)
*Product line depth and width
*What’s their cash cow and SBUs
*Growth strategy (market penetration product
development market development)
*SWOT Analysis – can be bullets – should be easy to find for most large companies
*Strengths (company controlled)
*Weaknesses (company controlled)
*Opportunities (in the external environment) (sourced)
*Threats (in the external environment) (sourced)