Product Launch Marketing Plan:

The lines in ITALIC are Academic References. You need to research

atleast 4 Books and internet sites with references to answer these questions.
The more books you refer, the better chance of scoring higher. YOU NEED
TO RELATE THESE REFERENCES TO YOUR PRODUCT

A marketing plan serves as a road map. It establishes objectives,

recommended actions, and timing for achieving the objectives. An
understanding of the marketing planning process is also a valuable aid in
helping managers organize their thinking about the marketing process and
the various methods and procedures used.

Components of a Marketing Plan

• Executive Summary:

The Executive Summary section of your marketing plan allows you to

introduce your company and explain the major points of your plan "in a
nutshell." Briefly describe the nature of your business and the products
or services you offer. State your mission and company objectives.
Summarize the marketing objectives and strategies contained in the
plan.

What is a vision statement?

What is a mission statement?
Why is it imperative for organizations to devise vision and mission
statements?

Marketing Research: HATIM

What is marketing research?
Differentiate between primary and secondary data?
Why is it important for organizations to conduct Marketing Research?
What are the steps involved in marketing research?

Every business can benefit from doing market research to make sure it i
s on track. You are not required to conduct full scale research for this
assignment. However, there will be primary and secondary data
available for your product. Identify how did you conduct research for
this project? Did you visit retail stores to know about competitors, their
products, market etc? If Yes! Please provide details.

• Table of Contents:

• Situation Analysis: H A T I M
The situation analysis analyzes the environment facing the business
with the proposed products or services.

 Analysis of Firm’s External Environment (Macro)

 What is environmental scanning?
How does environmental scanning help organizations?
Can environmental forces at MACRO level be controlled?
List PESTEL analysis and define each factor in one line?

Analyze external environment, emphasizing those aspects which affect

your firm’s marketing plan. This might include PESTEL analysis or any
other strategy.

 Analysis of Firm’s Competitors AMIR

What do you understand by the term competitor analysis?
Can competitors change with the change in frame of reference?
Is it an ongoing process or one time activity?
Can you provide with any method for identification of competitors OR
Competitive Analysis?

You need to identify and list current and potential competitors. Do

these competitors compete for certain products or locations only?
What are their strengths and weaknesses in your opinion?

 Analysis of Overall Market

Discuss the overall market for your product? Do you think it is a

growing market? Discuss profitability structure in terms of saturation?
What are specific market forces identified by you which may affect
your product?

Challenges and Opportunities HATIM

What do you understand by SWOT analysis?
State the need to perform SWOT analysis?
Challenges in the external environment for one sector can present
opportunities in another segment of agriculture! Do you agree?

SWOT Analysis: Explain your company’s strengths and weaknesses?

Also provide potential opportunities and threats prevailing in your
industry and how do you consider is utilizing them? Upcoming trends in
your market? Do you think change in some other industry might affect
your product for e.g. Health concern about cholesterol intake created
new markets for poultry, fish etc.
Future strategies are often developed by building on the firm’s
strengths and neutralizing weaknesses.

• Strategic Decisions:

Strategy is the link between objectives and results. It mainly concerns

the utilization of resources, including environmental, work force, and
ability to readjust to competitors’ counter-strategies. Thus, alternative
marketing strategies provide the direction to marketing efforts. The
strategies should include a unifying theme. A firm may use multiple
strategies/tactics to achieve the same objective.

 Product: MUDABBIR
Briefly define Kotler’s 5 Level of products with an example?
Also provide what do you understand by the term “product mix”?
How do you differentiate between need, wants and demands?
What is the difference between satisfied customer and delighted
customer?
What are different stages of a Product Life Cycle? Explain each one with
an example?
What is a brand and “can we brand anything”?
Narrate Kevin Keller’s definition of brand equity and provide your
understanding?

Planning the marketing mix begins with the product or service to be

offered. The description of products and/or services should be brief and
straightforward. What brand name you have chosen and why? Please
provide all five levels of your product. One of the most important
aspects of marketing is giving your customers reasons to buy your
products. Answering the following questions will help you better
understand how to position Yourself. What benefits do your products
and/or services provide to your customers? How do your products
and/or services differ from your competitors’ products? What packaging
strategy will you use?

 Target Market/Segmentation MUDABBIR

Define Target Market?
What factors an organization should consider when selecting a target
market?
Define Niche Market?
What is the concept of market segmentation?
List different ways on the basis of which organizations segment their
markets? How does segmentation help a firm?

The target market is a group of customers (people or firms) to whom

the company aims its marketing effort. Specifying target markets is a
key point in the development of your marketing plan. Once you have a
clearer picture of external environment, competitors and overall
market, you will have a better understanding of where you organization
fits.
The description will be completely different depending on whether you
sell to other businesses or directly to consumers. If you sell a consumer
product, but sell it through a channel of distributors, wholesalers, and r
etailers, you must carefully analyze both the end user and the intermed
iary businesses to which you sell. List your customers’ demographics?

 Positioning: WAQAR
Define Positioning (Al-Ries and Trout)?
 There are a number of positioning dimensions available; try and figure
out David Aaker and Shansby’s positioning typologies?
Define competitive advantage? Does positioning help firms gain
competitive advantage?

You need to identify positioning strategy for your product. This strategy
should give you some sort of competitive advantage? Explain how your
positioning strategy is different from your competitors and is it
sustainable in the long run?

 Competitive Strategy:

List and Discuss “Porter’s four generic competitive marketing

strategies” with example?

Study of strategy is beyond scope of your study. This is the reason a

competitive strategic model of Porter has already been identified? All
you have to do is discuss which strategy suits your firm and how do
you intend to implement it?

• Marketing Decisions (Pricing, Placing & Promotion):

The marketing mix principles are controllable variables which have to

be carefully managed and must meet the needs of the defined target
group. All elements of the mix are
Linked and must support each other.

 Pricing: RIZWAN
Define Pricing? Also provide definitions for pricing strategies listed
below with examples:
 Competitive Pricing
 Skim Pricing
 Penetration Pricing
 Psychological Pricing
 Multiple/Bundle Pricing
 Loss Leader Pricing
 Product Line Pricing
How elasticity of demand affect your pricing strategy?

What is your pricing strategy? For most businesses, having the lowest p
rices is not a good strategy. Does your pricing strategy fit with what wa
s revealed in your competitive analysis?
Compare your prices with those of your competition. Are they higher, lo
wer, the same? Why? How important is price as a competitive factor? Is
your target market price sensitive?
  Placing: AKBAR
Define Distribution Channel and how does it gives competitive edge?
What do you understand by direct distribution and indirect distribution?
What are different options available for consumers to purchase goods?
How has technology affected distribution channels?

How do you intend to sell your products? Which intermediaries will be

involved? Do your competitors have the same distribution channel?

 Promotion: AKBAR
Define Promotion/Communication Mix? List down and define all
elements in a communication mix?
Why is it called the visible marketing? Compare different mediums of
communication mix in terms of advantages and disadvantages? What
are different Sales Promotion techniques?
Why do you think all elements in a Communication Mix need to
COMPLEMENT each other?

Please provide a brief Communication Plan: Which media e.g.

newspaper, magazine, billboards etc will be used for advertising. Why
have you chosen these, justify? How often will you run advertising
campaigns? List details in Appendix e.g. channel/newspaper names.
What public relations activities you might or not carry our?
Sales Promotion has a very important role, especially in a new product
launch? What techniques you might use?

• Marketing and Advertising Budget RIZWAN

Define “Percentage of Sales” Approach?
Define “All You Can Afford” Approach?
Define “Task Or Objective Approach?

Deciding on comprehensive marketing and advertising budget is

beyond scope of this study. Identify which technique suits you from
above three and why? Provide a rough estimated advertising budget?

• Tracking and Evaluation

Tracking and evaluation of proposed efforts are critical. Explain very

briefly how do you intend to do it?

• Appendices
Attach any details, samples, supporting documents!

Thank You