Marketing Plan: Oatmeal

3717 Words Oct 11th, 2011 15 Pages
A marketing plan incorporates many factors. Product, price, place, and promotion all need to be evaluated and researched and taken into account. The following is the marketing plan for a new oatmeal product.

Marketing Plan: Oatmeal
In marketing there are several parameters that can be managed in order to create a successful product line. The product, place, price, and promotion of a product line needs to meet the needs of a company's target base. The marketing plan for a new oatmeal product will evaluate all of these factors and create a strategy to promote sales and growth.
Definition of Marketing
Marketing is defined differently depending upon who is defining the word. In fact, even the American
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Pricing is also a major factor in the competitive force (Kerin,, 2011). Oatmeal is a product that doesn't warrant much research or consideration before its purchase. Therefore, unless consumers are convinced that one oatmeal product is worth paying more for than another, consumers may purchase the oatmeal with the lowest price. Companies need to be vigilant of this and keep their prices competitive; not so low that they are no longer profitable and high enough that the product's quality is recognized. Advances in technology have touched just about every part of our daily lives. The consumers get their news, communicate with their friends and family, and spend their leisure time have all changed because of technology. In marketing, these changes should be viewed as an opportunity, not a threat. The amount of time adults are spending online is increasing tremendously. Websites such as Google, Facebook, Twitter, LinkedIn, and You Tube, are advertising gems that could reach many target groups. Mobile apps are also becoming overwhelmingly popular, bringing about a new marketing opportunity. In fact, according to the analytics firm Flurry, users are spending 9% more time using mobile apps than they are browsing the internet (Rao, 2011). Flurry's June publication released the latest numbers, showing that users spend on average 74 minutes per day on the internet and 81 minutes per day using mobile apps (Rao, 2011). Mobile
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