For this assignment, you will create an outline of a marketing proposal to launc

Question

For this assignment, you will create an outline of a marketing proposal to launch a new product. The outline must consist of a brief introduction and conclusion, and must provide an explanation of each of the 4 P’s, as well as considerations for the variables of which you have no control, yet have an awareness of with regards to your product. The Outline should run between 1 to 2 pages and length and follow a general outline format.

I. Introduction

II. Considerations for the things you can control (Marketing Mix, 4 P's). You will need to provide an explanation for each of the 4 P's:
• Product
• Place
• Promotion
• Price

III. dentify the things you cannot control. Provide an explanation for each of the following:
• Social or Cultural Environment
• Legal, Political, and Regulatory Environment
• Economic Environment
• Technological Environment
• Competitive Environment

IV. Conclusion

Explanation / Answer

The term ‘market’ originates from the latin noun ‘Marcatus’ which means “a place where business
is conducted”. A layman has somewhat similar connotations of the world market which brings to his mind a
place where the buyers and sellers personally interact and finalize deals. William J. Stanton has defined
marketing as “a total system of interacting business activities designed to plan, price, promote and distributewant satisfying product and services to present and potential customers.

if we want to lanch a new product in a market first we need to do some short of research to launch your product.

Target Markets and Segmentation:

Each kind of product has its own target market. A market is "the set of all actual and potential buyers of a product.Market segments can be identifiedby examining demographic, psychographic, and behavioral differences among buyers. The firm then decideswhich segments present the greatest opportunity—those whose needs the firm can meet in a superiorfashion.For each chosen target market, the firm develops a market offering. The offering is positioned in theminds of the target buyers as delivering some central benefits.

Each company positions themselves with a unique marketing mix that is aimed at specific segments of the market.

the marketing mix as "the set of controllable marketing variables that the company blends to produce the response it wants in the target market." The variables of the marketing mix are the 'four Ps':

Product: "the 'goods-and-service' combination the company offers to the target market

Price: "the amount of money customers have to pay to obtain the product

Place (Distribution): "involves company logistics and marketing activities concerned with the making and distributing the final product

Promotion: the "activities that communicate the merits of the product and persuade the target customers to buy it. This includes advertising, publicity, sales promotions, personal selling, direct marketing and sponsorship.

We define value as a ratio between what the customer gets and what he gives. The customer getsbenefits and assumes costs, as shown in this equation:
Benefits Functional benefits+Value= emotionalbenefitsCosts Monetarycost +time cost + energy costs +phychic costs.

To reach a target market, the marketer uses three kinds of marketing channels. Communication
channels, deliver messages to and from target buyers, through different channels like newspapers, magazines,
radio, television, mail, telephone, billboards, posters, fliers, CDs, audiotapes, and the Internet. Beyond
these, communications are conveyed by facial expressions and clothing, the look of retail stores, and many
other media. The marketer uses distribution channels to display, sell, or deliver the physical product or
service(s) to the buyer or user. They include distributors, wholesalers, retailers, and agents. The marketer
also uses service channels to carry out transactions with potential buyers. Service channels include customer
call, after sales services, warehouses, transportation companies, banks, and insurance companies that facilitate
transactions.

Elements of the environment. The marketing environment involves factors that, for the most part, are beyond the control of the company. Thus, the company must adapt to these factors. It is important to observe how the environment changes so that a firm can adapt its strategies appropriately. Consider these environmental forces:

Competition: Competitors often “creep” in and threaten to take away markets from firmsNote that competition today is increasingly global in scope. It is important to recognize that competition can happen at different “levels.” At the brand level, two firms compete in providing a very similar product or service. Coca Cola and Pepsi

IV. Conclusion:

We have noticed that marketing is not really an activity which should be looked upon in a vacuum or
in isolation. It is in essence taking a view of the whole business organization and its ultimate objectives.
Concern for costomer must penetrate all areas of the enterprises. Marketing emphasizes the belief, handed
down for a long time by good marketing people, that the customer is the king and his satisfaction must be the
ultimate aim of a business activity. It is because of this that all business thinking in management must start
with identification of a need of a group of likely customers. This leads to identification of the type of product
or service to be offered. The product or service is aimed at satisfying the needs of a group of consumers,
known as customer segment or segments. This is followed by a host of decisions and activities known as the
marketing mix directed to secure consumer-satisfaction as well as profitability for the organization.

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