Marketing p2,3

Name of product:

Company name:

Location: 

Years in business:

Website:

Detailed description of product:

Current stage of product development:

PHASE I: PLANNING

Strengths and weaknesses are INTERNAL factors of the company that can be controlled by the company and can include financial and capital resources, management/employee expertise, capacity for growth, brand recognition, existing networks, customer relationships, sustainability, etc.

1. Strengths (INTERNAL, favourable)

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2. Weaknesses (INTERNAL, unfavourable)

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PHASE I: PLANNING

Opportunities (EXTERNAL, favourable)

i. Competitive Opportunities:

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ii. Legal/Regulatory Opportunities:

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iii. Economic Opportunities:

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iv. Social Opportunities:

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v. Technological Opportunities:

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vi. Ecological/Environment Opportunities

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PHASE I: PLANNING

Threats (EXTERNAL, unfavourable)

i. Competitive Threats:

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ii. Regulatory /Legal Threats:

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iii. Economic Threats:

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iv. Social/ Demographic Threats:

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v. Technological Threats:

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vi. Ecologicial/Environment Threats:

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PHASE I: PLANNING

Target Market: Which Greater Victoria market segments are most likely to purchase product/service, and why? Address all relevant geographic, demographic, psychographic, and behavioural variables. Based on your research, what is the approximate size of your target market within Greater Victoria? (Provide actual numbers here.)

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Sales Objectives: Based your target market, and considering the various competitive, economic, and other external environmental factors described in your SWOT analysis, what are reasonable objectives for unit sales and market share within the Greater Victoria area?

Differentiation and positioning: What makes the product/service unique and how does it compare to competition?

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Issues/Concerns: What key questions or concerns need to be answered or addressed?

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PHASE I: PLANNING

PRODUCT STRATEGY (consider strengths, weaknesses and target markets from Part 1)

What is core customer value provided by this product?

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Describe actual product; how will it provide utility and value?

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Describe augmented product features; how will they provide utility and value?

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Discuss appropriateness and effectiveness of brand name and/or logo:

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Describe key features of product packaging:

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PHASE I: PLANNING

PRICE STRATEGY (consider target markets and financial objectives)

What initial pricing strategy do you recommend, and why?

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How sensitive will demand be in terms of price elasticity, and why?

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What various price adjustments should be implemented over each stage of the product life cycle, and why?

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PHASE I: PLANNING

PLACE STRATEGY

What type of marketing channel(s) do you recommend, and how would each channel member add value?

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Do you recommend product be sold primarily through wholesaling or retailing, and why?

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Depending on production level and distribution networks, how do you recommend product inventory be managed (including things like warehousing and transportation logistics)?

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PHASE I: PLANNING

PROMOTION STRATEGY

Advertising:

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Sales Promotion:

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Personal Selling:

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Public Relations:

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Direct Marketing:

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Online/ Interactive Marketing:

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PHASE II: IMPLEMENTATION

MARKETING ACTIVITES

1. Primary Marketing Activity:

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1. Secondary Marketing Activity:

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1. Supporting Marketing Activity:

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PHASE III: CONTROL

EVALUATION (methods/tools to measure success of identified strategies)

1. Evaluation methods/tools for Primary Marketing Activities:

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1. Evaluation methods/tools for Secondary Marketing Activities:

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1. Evaluation methods/tools for Supporting Marketing Activities:

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Alternate options to modify marketing strategy: