Question

write a marketing plan for a product or service

you should

a) Collect and analyze relevant background data on the market and competitors for the selected product or service

b) identify the target markets, market needs, market trends, market growth and product offerings.

c) design a realistic marketing plan using (a) marketing objectives using SMART; (b) marketing strategies; (c) Activities; (c) Budgets; (d) Schedule ; (f) Marketing Mix

Answer 1

*PLEASE RATE WITH A THUMBS UP *

While writing a marketing plan for a product or service, there some steps to do.

A. To Collect and Analyze relevant background data in the market from directly asking the customer, indirectly ask questions from customers and from other sources of such as trend, past data, and interest to find out background data of product and service.

To analyze segment market audience, compare qualitative and quantitative data, analyze demand, customers requirement, etc at selected product or service.

B. To identify target markets look at the current customer base, identify product or service objectives, check competitors, conduct market research, recesses offering on product and service.

To identify the market needs to identify target customers' needs, identifying local customer's buying habits, explore competitors' market research and opportunities.

For identifying the market trends keep track of industry publishers, make most of the technical tool to collect current market data, analyze competitors' observation, customers' needs, etc.

To identify market growth define subsequent of the market, follow needs by bottom-up analysis, look at the competition regarding your product or service, assess the static market size.

To identity product offering analyze your customer current needs, focus on the value proposition, build credibility, idea generation, test marketing, etc.

C. To design a realistic marketing plan

A. SMART helps to maintain a specific measure, achievable, realistic, timely market plan.

B. Marketing strategies used in a marketing plan to decide how to make a marketing plan as per requirements.

C. Budgets help to decide what tools should include in a marketing plan.

D. A schedule helps to function market plan at the time that defines at which time plan to do.

F. Marketing fix included in the marketing plan to set objectives marketing plan to the goal.