The selected organization plans to expand by introducing new products in the market. You are hired as a Marketing consultant to study the marketing environment and suggest a suitable Marketing plan for the success of the new product. You have to launch the new product by developing a creative marketing campaign to target the right audience. Your marketing strategy must clearly articulate a bold marketing strategy and include tactical actions that are clearly aligned with the overall organizational objectives.
- Conduct a situational analysis to enter a new market
- Gathering information on competitors to conduct analysis on their sales, prices, and methods of distribution and marketing to thoroughly learn about the competition
- Suggest a new product line that aligns with the organization’s overall objectives.
- Collecting and analyzing data on customer preferences, demographics, buying habits, and needs, to better identify market potential and the factors that influence product demand.