market analysis (fill the table )
DAVi
IndividualNewProductMarketingPlan1.docxIndividual New Product Marketing Plan
Based on your Market Analysis, prepare a new product marketing plan to take advantage of the opportunities you have identified. It is best if you create a unique product/service for a particular target group.
Your Name___________________
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Item (explanation) |
Your Idea |
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The Opportunity Describe the consumer insight |
Market Segment overview and opportunity
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Your target consumer Demographics Psychographics Buying habits Influences Motivations Constraints |
Target Consumer Persona |
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Positioning ” Why should they buy you? · Best: Superiority is core benefit · Better: Parity core delivery with added benefits/ lower costs · Different/Unique |
Positioning Promise (primary benefit and consequence) · Support (proof for promise) · Personality (tone of voice) ·
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Marketing Mix |
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Product/Service attributes · Formats, varieties, sizes |
Brand name and description |
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Pricing Strategy · Introduction (Parity, penetration, skimming) · Ongoing: bundles, two-part, captive, subscription
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Pricing Strategies: Introduction: · Ongoing · |
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Promotion Strategy · Awareness: How to build trust and consideration through paid, earned and owned media · Trial: How to remove barriers (Price, financing, sampling, guarantees, certifications, return policy, installation and training) · Retention: How to keep customers (Financial, social and operational bonds) |
Awareness Strategy · Trial Incentives · Loyalty Incentives · |
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Place · Where can they find you? · How will it be delivered? · How will you provide after sales service> |
Distribution Strategy Purchase location (s) · Delivery · After sales service? · |
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Basis for Recommendation |
Why will some consumers prefer your offering over the current competition? What is your competitive advantage or pint of difference?
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