Mission College Bestie Snack Marketing Plan 4Ps Strategies Paper

Download the required template and answer the following items. If you do not have Microsoft Word, upload template to GoogleDocs then download as PDF after completion. Submit the completed PDF to assignment upload link below). There should be no more external research. Must incorporate Part 1 and 2B research results to support your strategy. Do not use another textbook, a different business, or submit an arbitrary marketing plan. Let’s focus on applying your chapter readings on 4P’s into this Marketing Plan:

Product Strategy

(1) Describe your product features/differentiators

(2) Types of Consumer offering (section 6.2)? Explain your answer.

(3) Why do you think your product/service can be successful? Refer back to your primary & secondary research, market trend, competitive environment, and product differentiators (do not discuss price, promotion and place).

Pricing Strategy

(1) Select one pricing objective (chp15.1) out of the 4 listed (“Status Quo” is not applicable in our case since it is a new product/service) and justify. Make sure you quantify (make an assumption about your target ROI %, profit$, sales $, or market share% you hope to achieve.)

(2) Select the major pricing factor out of the 4 factors from Chp 15.2 and explain how they impact your pricing decision process. Make sure to refer back to your Part 1 paper on market research and segmentation strategy.

(3) As a new product/service offering, you should first set an introductory pricing. Choose 1 of the 3 listed (Chp 15.3 “Introductory Pricing Strategies”) and explain/justify based on your market research on competitors.

(4) On an on-going basis, what are the pricing approaches for your business (Chp 15.3 “Pricing Approach”)? Identify the approaches and explain how they fit with your target customers, your product/service offering, and your pricing objectives and are consistent with your introductory pricing strategy.

Do not just arbitrarily pick a price and such as you are following xyz pricing. You must be able to justify your pricing strategy based on your market research and assessment in Parts 1&2 of your marketing plan.

Distribution (downstream channel) strategy (do not discuss supply chain)

Describe your distribution strategy: Based on Chp 8.2 Figure 8.2 with 5 potential B2C distribution strategies, select 2 of the strategies that best fit your business. If you choose direct channel, please add on at least one more channel where you can leverage the channel partners for access to customers. Justify based on your competitive information, customer segment and pricing strategy.

Promotion strategy

(1) Select one or more promotion objectives (chp11.4 ) out of the 9 listed in your chapter reading (ie. list/ write the objectives as listed in the textbook- do not make up your own or use another textbook) and justify based on your market research, target customers, pricing and distribution strategies.

(2) Promotion Mix

Select 2 or more components out of the 6 in the Promotion Mix chapter reading (Chp11.2) (ie. list/ write the components as listed in the textbook) . Explain and give examples of the contents for the promotion components (e.g., what ads, sales promotions, PR messages). Explain how they adhere to your business’ IMC.

(3) Influencing Factors for Promotion Mix

Select and explain at least 3 factors from your chapter reading (Chp11.3 Figure 11.1) (ie. list/write the factors as listed in the textbook) that influenced your selection of the Promotion Mix components.

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