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Marketing Plan Strategy - Essay Example
Author : fmckenzie
Pages 3 (753 words)
Marketing Strategy (Add (Add (Add Date) Marketing Strategy Introduction Strategic management of product development and product launching is a challenging task for a brand manager as these two processes together play a crucial role in determining the market success of a product…
This paper will develop a strategic plan for launching a new cell phone under the KK brand. Product Launching Plan Through this product launch, as a brand manager, I need to generate public awareness of my business and thereby increase market exposure. To be more specific, I want to generate $60,000 in sales within 60 days of my product launch. I also aim to attain at least two third of my sales from upper class customers as the newly developed cell phone is a costly product with a range of attractive features. I have planned to adopt a competition based pricing strategy since there are thousands of cell phone models in the market. Therefore, I will focus more on rich customer groups while dealing with product promotion. Generally, there are three product launch phases such as prelaunch, launch, and post launch (Swansonrussell.com, 2011). In the prelaunch phase, it is necessary to build hype and buzz about the newly developed product. As Sachs (2011) points out, the launch phase must be managed by timely adjustments in plans and procedures. In the post launch phase, it is essential to ensure that the product launch was successful by closely monitoring the market moves toward the product. As part of planning, I need to determine how to enter the market and how to sell, test, and fulfill my product. ...