Strategic Marketing Report on Product Introduction

Environmental Analysis

.Introduction•A brief introduction should be done on the company and the product that you have selected.It should also serve to introduce the reader to the purpose and flow of the report. II.Environmental Analysis•Using online databaseslike Passport and Factiva, search for relevantmarketing research reports from Euromonitor and government bodies to describe and analyse the latest the marketing forces thatdetailsthe most relevant social, demographic, or lifestyle trends. Firstlook for information on that industry –cite useful statistics or data that describes the size and growth of the market. Check for useful information on the competition in the market and determine which Product Life Cycle Stage your industry falls under. III.Target Marketing Process•Identify your target markets according using the appropriate variables under the demographic, psychographic and behavioural bases of segmentation. Provide a detailed description of your target market in terms of their size and growth potential to determinewhether this is indeed an attractive segment to target. •Positioning statement –Propose your company’s or brand’s positioning statement that communicates the company’s unique points of difference of its products to prospective customers using a perceptual map.

IV.Designing the Marketing Mix Programme Product•Describe the product features in detail of your new product –match it against the list of benefits each feature offer.•Select a suitable brand name for your product –explain how this brand name fulfills some of the criteria of a good brand name. •Develop appropriate packaging and labeling details that are relevant for your new product.•Go through the first four stages of the New Product Development Process for your new product –use diagrams to describe your new product idea or concept and an overview of your marketing strategy for your product.Price•Decide on the pricing strategy that you intend to adopt for your product.You may consider doing some research on the current pricesin the market, key competitors pricing and their offerings. Your report should provide an indication of the price or price range that you intend to sell your product.•Apply which pricing approach: cost-based, value-based or competition-based pricing you would use and recommend at least fourpricing strategies which are appropriate for your new produc