Critical thinking, logic, real-world integration, and marketing concepts are the backbone of this assignment.Marketing Plan for Startup Business
A. Target Market & Positioning
a. Describe a clear target market based on geography, demographics, psychographics, and benefits sought
.b. Describe the positioning of the business as it relates chosen adjectives and existing/potential competition.
B. Product Strategy
a. Describe the core and supplementary products being offered. You will want to describe in detail the items and how they are different than the competition
.C. Pricing Strategy
a. Describe the costs of goods (materials, supplies, inventory), the pricing model chosen, and potential profit margins on the products.
D. Distribution Strategy
a. Describe the location of the business, hours open, and accessibility by customers.
E. Promotion Strategy
a. Describe the ways the business will be promoted. General costs should be included (e.g. deciding to advertise on tv will cost money and vary depending on the time and channel)
.F. Startup Budget
a. List in a table (with references) some of the basic startup costs associated with the business. This is money that must be spent before the doors even open for business.
G. Overall synergy of target market, positioning and 4 Ps.
a. This is a summary area of the other sections but how each area works and ties together. If there is a disconnect, please explain how/why the disconnect is there and how it is being overcome. This may cause you to have to go back and re-evaluate a certain section as it is not working well with the other sections. b. For example, choosing to sell high-end sports cars a low price in a perceived dangerous neighborhood does not work together.
H. Appendices, as needed
Source your information.