Brief Description of the Three Products †Myassignmenthelp.Com

Question: Discuss About the Marketing Plan Outline? Answer: Introduction Clear identification of the three products or services in the chosen market of study. Brief description of the three products or services and their contribution in the market. Identify the uses of the items and their merits and demerit to the consumers in the market. General statement on the purpose of the marketing plan to the fir Current Market Situation The performance of the products or services in the market The factors that are favorable or unfavorable in the market to ensure high sales volume for the company Target Audience The identification of the customers of the products or services in terms of Numbers of the target customers Their specific demands The gaps in the market industry Carry out Strengths, Weaknesses, Opportunities and Threats Analysis (SWOT Analysis)- to identify the internal eternal factors affecting the business. Political, Economic, Social, Technological, Legal and Ecological Analysis (PESTLE Analysis)- to identify the external forces or factors affecting the business. The competitors in the industry offering alternative products or services The location or positioning of the customers or target audience. Marketing Goals Identify categorically company goals and objectives in the market. Identify the methods or plan of actions to achieve the set targets by the business Identify the main objectives and targets of the business to offer the items in the market. Marketing Communication Strategies and Tactics The amount of resources the business will put into the business in terms of; Amount of Finances required for proper execution of the business operations Employees (skilled and non-skilled) to aid in achievement of the business targetsMachinery to be used in servicing, manufacturing etc. and the specific features required. Marketing budget Clear outline of the amount of capital the company has estimated and set aside for the marketing activities in various areas like; Cost of advertisements Cost of offering discounts to customers Cost of trade shows References Calkins, T. (2012). Marketing Plan Template. In Breakthrough Marketing Plans (pp. 167-184). Palgrave Macmillan US. Westwood, J. (2016). How to write a marketing plan Kogan Page Publishers.