Marketing Plan For Developing New Products

When a new product is launched into market, it will go through four stages of product life cycle, which are introduction, growth, maturity, and decline (Kotler and Armstrong 2001). The first three stages, however, may be the optimal period at which the effect of sales promotion can be maximized. Therefore, features of the first three stages and the corresponding marketing targets will be discussed in the following subsections.

A product launch is not a single event; it is part of the overall product development process. The early stages of a product launch take place before launch activities begin. Careful planning is essential to ensure the market is ready for the product and the company is ready for the launch.

Commercialization: The Company has developed advertisement and package according to different market around the world. The company also keeps on record their new product sale force for the next development.

Introducing a new product is an activity that involves a high risk and requires the application of a high content of resources; material, financial and human that

The recent plane crashes along with airfare are driving people to drive more and more. We know we will increase our sales as long as we have a strong marketing campaign to advertise our product.

There is usually one main objective when it comes to marketing. This objective is to increase the sales of the business and keep customers coming. In order to increase the sales of the business and

An effective marketing plan is one of the most important steps in introducing a new product or service. It is an essential tool in preparing executives, employees, and partners of the company in understanding the strategy to entering the market place with success. Having a solid marketing plan will not only ensure that the company is sticking to the schedule, but that the marketing resources are being disbursed wisely and appropriately (U.S. Small Business Administration). Some of the main objectives of an effective marketing plan include knowing and understanding the customer’s needs, ensuring the businesses strategy is in line with meeting those needs, developing a mission statement and strategy around meeting those needs, utilizing advertising activities that lead to successful interactions with customers, and having effective communication between the customers and the organization (Tanner & Raymond, 2012). The objectives of the marketing plan are met through several elements that summarize the goals, describe the offering, address the market, formulate the strategy, and determine a budget (Tanner & Raymond, 2012).

This report will detail a new venture and the plans for start up to around 5 years. The company will consist of 5 directors/shareholders and the company will be without debt from the start. The reason for this is to ensure a full commitment from all parties to the fledgling company and that the directors. This will also give the company a good start, as to be without debt is always a desirable and decreases the possibility of hasty decision making with the debt in mind. There will also be an innovative marketing plan for the company and the way that it gets its business. Starting a new venture is difficult and it will be made easier as a selected target market has been found with a good deal of buyers are in that market, and the company is aware of their needs and can fulfil them.

It is aimed at the broad mass market and involves the creation of a product or service that is perceived unique throughout the industry. The company or

Companies that consistently bring new goods to market follow a process called new product development (NPD). The steps may vary depending on the company and good, but many successful new product launches follow roughly the operating procedure. The process begins with formulating an idea for a new good or service. The idea is then handed over to a project manager (PM) so that they can further refine the concept. Once the PM has chosen a concept, the company’s legal department will test, prepare and, if necessary, register the concept with the proper government agencies. Finally, the company will test the new good, mass-produce the product and analyze whether the new product launch is successful. Planning structures such as these help firms

“The Marketing plan provides clear and ambiguous statement about strategies and actions that will be implemented, by whom, when and with what (anticipated/required) outcomes.”

Outlining the product awareness that is required for the use of your product or service.

The students, employees and workers become tired due to the work burden and sunlight which make them feel loose. They need an energy drink that makes them re-energize so they may be able to perform better again and feel refresh.

Currently, SH Confectionary is selling various flavours which includes caramel, lemon, Raspberry pink. We will introduce orange flavoured liquor chocolates which are cost effective and also permitted by the government to sell in the store. Our product will be having an expiry of 6 months from the date of manufacturing, and it will be replaced as soon as it is near the date of expiry. There will be an offer on these chocolates for a week such as Buy 1 and Get 1 Free. Our goal is to sell 25 boxes of chocolates per

This is the concept of the product that might facilitate the cleaning of offices and houses. By observation of time, Group thinking is to develop this idea into actual product.