Discuss your strategy for positioning and differentiating your product, Marketing Plan Phase 3, business and finance homework help

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Now that you have defined your  goals and conducted your situation analysis, it’s time to create a strategy to  help you to achieve your goals. Next, you will complete your Marketing  Strategy. In the Marketing Strategy, the marketing manager defines the  company’s strategies for increasing sales and gaining a competitive advantage.

Complete Marketing Strategy by  providing 1-2 paragraphs about each of the following items:

Marketing Strategy

  1. Positioning  Strategy: Discuss your strategy for positioning and differentiating your  product. What market segments will you target? What is your value proposition?  Discuss how you will differentiate your product from similar competing brands.
  2. Product  Strategy: Discuss your product and strategy for building a strong brand.
  3. Pricing  Strategy: Determine how you will price your product or service. Talk about how  you expect to remain competitive with your pricing and still earn a return on  your investment. How will your product price compare to the competition? Don’t  forget to take all of your variable and fixed costs into account when defining  your pricing strategy.
  4. Distribution  Strategy: How do you intend to get your product into the hands of the consumer?  Incorporate the use of the Internet and other technologies in your Distribution  Strategy. Also, discuss a traditional method for distribution such as, mail,  retail, sales representatives, etc. Finally, specify the exact distribution  channel that you will be using. Distribution channels include: direct  distribution channel (product goes directly from manufacturer to consumer), or  indirect distribution channel where intermediaries are used. An example of an  indirect distribution channel would be the product going from the manufacturer  to the wholesaler to the retailer to the customer or from manufacturer to  retailer to consumer.
  5. Marketing  Communications Strategy: Your communications strategy must incorporate  traditional methods, as well as methods utilizing the Internet and Social  Media. Discuss the elements of the promotion mix that you will use to promote  your product.
  6. Marketing  Research: Describe your plans for market research. What will be your approach  and which tools will be utilized? How will you conduct your studies and what  will you be measuring?

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