Writing a marketing plan is a difficult task. To sustain their existence in the industry, companies often introduce new product offerings to the market. This new product development (NYPD) is conducted by the company and later documented in a marketing plan. Select a local Small and Medium Enterprise (SEEM) company with sales of under ARMS million and has been in business for less than 5 years. i. Analyze the internal and external environments affecting the company and market.
Identify the customer segments and describe the relative size of each market. Ii. Study the company s existing or potential competitors and list the resources that both the company and the competitor have. Restrict your attention to just two competitors (assuming that other competitors do not exist or have less impact). Use your analysis of the customer segments and resources to identify the customer segment that makes the most attractive target market for the firm. Design the marketing strategy of the new product offering which includes the 4 AS;
- Product
- Price,
- Place
- Promotion.
Deliverables Prepare a marketing plan for a recommended product or service of the company. You are required to provide as much details as possible in completing the assignment. The report must be prepared professionally and creatively.
