Need help with my assignment, everything will be rewritten in my own wording. My product will be unbreakable and durable iPhone chargers. My product will be broaden for Android users as well. Here's a brief rundown on my product:
The product I have chosen is iPhone charger. Although the charger is very important asset to the phone, the company (Apple) itself is quite useful. The charger keeps the phone charged and what I love the most about Apple is that I can use it to work from home. The iPhone is a type of technology that I can use anytime and anywhere. I know iPhone may seem like just any other phone but compared to Samsung, it is much better. iPhone is much more popular than any other phone and is on the top successful chart. Another thing I love about the iPhone is that I can use Microsoft Office easily and complete all my work assignments when I'm out the office. This product fits my lifestyle because I am constantly on my phone, and I do not have to worry about an overheating or explosive phone. Also, having an unbreakable charger will be very impressive. No more spending 10-50 dollars every month or two for a new charger. No more worrying about your dog chewing on your charger because it is unbreakable. The possible profiles I can think of are iPhone consumers. Anyone who uses Apple products will be my target market audience because it is a device that they enjoying using since they keep on purchasing them. Having an iPhone means needing a charger that is durable and unbreakable. Gaining awareness is one of the first steps in the sales process and the focus of one's marketing communications strategy. The marketing manager can capture the consumer's attention with durable and unbreakable chargers. As I said before, the target audience will be iPhone users no matter what gender, race sex or age they are. It is for anyone who has the product. This type of product can also potentially capture the eyes of new consumers. As I continue to do research I will find out if there are any ethical or legal implications. As for right now, there really isn't any. I plan on the product being eco-friendly and non-explosive. The channels I will be using to place my product is through the Apple/iStore (in-store), Online phone companies store and television advertisements.
Below is the outline of the paper, an executive summary is to be included:
STRATEGIC MARKETING PLAN
INTRODUCTION
This assignment entails development of a comprehensive strategic marketing plan for a new product or service that is ready to "go to market". A Project Template is provided that allows you to organize your work in increments and see how the sections come together to produce a comprehensive plan.
PRODUCT/SERVICE
This assignment requires application of concepts learned to build a strategic marketing plan for a new product or service that is ready to "go to market". You will not be allowed to mimic plans or ideas from larger or already "in-place" campaigns. You must develop the business concept in its entirety.
- Describe the new product or service.
- Discuss the qualities that make this product/service new to the marketplace and the rationale for your decision to pursue the concept. Be sure to pick a product or service that is ready to market. If you are developing a new product, assume that the development phase is over and you are ready to launch the product into the marketplace.
OBJECTIVES/MISSION STATEMENT
Create a Mission Statement. State your short-term MARKETING objectives (one year). Assume that the product/service is ready to launch at the beginning of the year (planning and testing have been completed).
- Marketing objectives include goals for sales, profits, market share (as examples)
- Objectives need to be quantifiable. Use the SMART acronym-simple, measurable, achievable, relevant, and time-specific-in formulating your objectives. An objective with a 100% goal is not acceptable
TARGET MARKET
Identify your target market. Provide a specific demographic profile and rationale for this decision. Another source that may help you: The US Census Bureau's American Fact Finder. Consider the size of the market and its purchasing power. Research is required to back-up your selection and to provide statistics to show that it is a viable market.
COMPETITION
Analyze your competition. Who are they? Who are the biggest players? How large is the market? What are the trends/forecasts in the industry? How does your product/service fit in? Hoover's Pro in the Library is a good tool for this section; it may be accessed under Find Web Resources.
PRODUCT/SERVICE FEATURES
Provide a brief overview of the product or service.
- State the features of your product/service. Show how it's innovative and different. It may be unique because of the area in which you plan to market it.
- Discuss legal and ethical implications that could affect the marketing process. This will require research.
CORE STRATEGY
Discuss your Core Strategy and make sure to connect it to your Mission & Objectives. Include a discussion on Product/Service Positioning.
MARKETING MIX: COMMUNICATIONS & PROMOTION
The Marketing Mix is the set of decisions about communications and promotion, price, channels of distribution, and customer relationship management. An integrated marketing communications (IMC) approach delivers a clear and consistent message to your consumers and is connected to your Core Strategy.
- Discuss the aspects of the IMC. (The elements of the communication mix include: advertising, direct marketing, sales promotion, publicity/public relations and personal selling.) Define each and discuss the pros and cons of the individual elements.
- Provide a detailed description of your IMC approach. Explain your rationale for choosing or rejecting the specific elements (include applications to the earlier research section). What changes do you expect to make as the product/service matures?
- Describe the message you wish to communicate based on your core strategy. Explain your rationale for the message. Formulate how you will communicate with your target market? Be specific. How will the internet be used in your IMC approach?
- Select and explain the most suitable method for measuring advertising effectiveness. Your decision must include research to back up the selected method. Be sure to explain why this is the most effective method to measure the effectiveness of your marketing campaign.
MARKETING MIX: PRICE
Discuss what pricing objectives you would consider for your product/service. The Objectives should be based on the various theories presented in marketing literature and take in to account competitor pricing. Including background on value proposition, positioning, and target market is necessary. All of these components provide rationale for the chosen pricing scheme.
MARKETING MIX: CHANNELS OF DISTRIBUTION
Channels of Distribution: Specify the type of distribution channel you will use and include rationale.
MARKETING MIX; CUSTOMER RELATIONSHIP MANAGEMENT
Customer Relationship Management -Detail how you will incorporate CRM into your plan. Be sure to include a discussion on the role of technology that will be used to support your CRM.
CONCLUSION
REFERENCES
The assignment requires the use of ARTICLES from the library's full-text databases. Articles are found in periodicals. These are not to be confused with eBooks or Reference Books. The most popular databases in marketing are: ABI Inform Global, Academic Search Premier, and Business Source Premier.
Your report MUST include a reference list. All research should be cited in the body of the paper. In-text citations and corresponding references should be included in your paper. For more information on APA, please visit the APA Lab. The paper should be written in third person; this means words like "I", "we" and "you" are not appropriate. The use of direct quotes is discouraged, but may be used sparingly in appropriate situations.