The selected organization plans to expand by introducing new products in the market. You are hired as a Marketing consultant to study the marketing environment and suggest a suitable Marketing plan for the success of the new product. You have to launch the new product by developing a creative marketing campaign to target the right audience. Your marketing strategy must clearly articulate a bold marketing strategy and include tactical actions that are clearly aligned with the overall organizational objectives.
Conduct a situational analysis to enter a new marketGathering information on competitors to conduct analysis on their sales, prices, and methods of distribution and marketing to thoroughly learn about the competitionSuggest a new product line that aligns with the organization’s overall objectives.Collecting and analyzing data on customer preferences, demographics, buying habits, and needs, to better identify market potential and the factors that influence product demand.