You are a Marketing Manager in a company.
Scenario
You are a Marketing Manager in a company. Your job is to create a marketing plan
based on the chosen product below, demonstrating your knowledge and implementation of the
SIX CORE principles of marketing. Choose a product listed below and develop a marketing plan
that you would use to launch your product and ‘win’ your business over the competition. (The
company names are existing, but the product listed that you will be focusing on is a uniquely
created, new possibility!)
*Tentative Launch Date would be Summer 2022 (the mindset of POST -Covid).
Location – Downtown Toronto market.
Company: Nike
Products: Dance Shoes
Using the criteria below, create a marketing plan reflective of the following:
Criteria
Introduction/Summary of your company, product and vision (150-200 words)
• Incorporate (P.R.I.C.E.)
The Competitive Market Analysis
• What companies do you think you compete against and why? (List 2)
• How do you compare against your competition – SWOT
Principle #1 – The Marketing Concept
• What is it?
• What is the value and why it is a good investment for your company to
launch?
Principle #2 – Satisfying Customer Needs & Wants
• Explain how this product would satisfy the needs/wants of the target
customer. Support your answer with your research/analysis.
Principle #3 – Market Segmentation
Define and expand the market segments that you would focus on
and why
Principle #4 – Marketing Mix
• Explain how you would incorporate each of the following when creating
your strategic marketing plan. Remember to explain
why/how/when/where each factor would be used.
o Four controllable factors (Product, Price, Place & Promotion)
o The uncontrollable factors (PESTLE
Principle #5 – Value and Exchange Process
• Share how your product will align with the Value/Exchange process.
Principle #6 – Product Life Cycle
• Define your anticipated vision for the Product Life Cycle of your Product
according to each step (Introduction, Growth, Maturity, Decline)
Reflective Question – Activating your Partnership
From a Hospitality/Travel Organization Perspective (Industry
Organizations, The Destination Mix and/or Visitor-Resident Interaction),
are there any partnerships you could build to support your product’s
marketing success further? Who would they be, how would they partner,
and why would be they be an ideal fit with your product/company and
why?