19 Jul DESCRIBE THE VARIOUS PRICING STRATEGIES THAT YOU MAY USE AND THE REASONS.
The Smartest Motorcycle Helmet.Subject: Marketing
Comment:
The product is SKULLY AR-1 The Smartest Motorcycle Helmet.
You have an open budget…Let your imagination run wild!
You will write a marketing plan to sell the idea to upper management (your teacher). You will need to make some research to find out some of the data.
A STRUCTURE OF THE REPORT IS PROVIDED BELOW:
TABLE OF CONTENT
1. EXECUTIVE SUMMARY:
•The executive summary is an abstract that gives a broad picture of the contents of the report.
•It should not start off by “In this report you are going to….” This summary should be one page.
•It should summarize the report to the extent that if this is the only page the reader reads, she will know what is in the full report.
2. THE INNOVATIVE PRODUCT:
•How did you group come out with the innovative product?
•Why did you choose this product?
•Why do you think your product would appeal to customers?
3. THE ENVIRONMENT:
•Describe the probably micro and macro environmental forces that may affect the successful launch of your new product.
4. MARKET SEGMENTATION, TARGETING AND POSITIONING STRATEGY:
• Identify the appropriate segments for your product.
• Give reasons why you choose to target a particular segment/s.
• What are your positioning strategies?
5. PRODUCT STRATEGY:
• Product attributes.
• Branding.
• Packaging.
• Labeling.
• support services.
6. PRICING STRATEGY:
Describe the various pricing strategies that you may use and the reasons.
7. PROMOTION STRATEGY:
Describe the promotional strategies that you may choose for your product, stating the reasons.
NOTE:
• Creativity is an important factor in this project.
• 1.5 spacing.
• Font size – 11.
• Lettering – Calibri.
• Paragraphing – 2 spaces.
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