Components of a Marketing Plan Part 1: Product, Target, Strategy Planning, Positioning, and Brand

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Purpose of Assignment

Marketing plans help coordinate an organization’s departments and activities toward a mutual benefit between the organization and the consumer. Well thought out marketing plans contain both internal and external research aimed at understanding who the customer is, what they want, and any barriers the company may encounter in meeting customer demands. This research and information allows the company to create strong strategies and realistic goals. Part 1 of this two-part learning team assignment is designed to place students in the role of a company marketing team demonstrating to the CEO and Stakeholders why and how their new product/service should be launched. This assignment assesses the company, the target market and product, and identifies potential obstacles a company may face when deciding to launch a new offering will be identified.

Assignment Steps

Resources: Marketing: Ch. 1: pg. 4-10; Ch. 2: pg. 40-46 and 54-69; Ch. 3: pg. 72-92; Ch. 11: pg. 292-309; Week 1 video

Scenario: Your team has been chosen by the CEO to lead the development of key marketing strategies for the marketing plan for your company’s launch of a new and unique product/service (not already offered). Your marketing team’s mission is to prove to the board of directors and investors through research, strategy development, and reasoning, that this product/service is viable and will meet the company’s goals. In this first half of the project, you will be reporting to the board and CEO about the target, the product’s strengths, a SWOTT (Strengths, Weaknesses, Opportunities, Threats and Trends) analysis, and the brand’s position in the competitive environment.

COMPANY NAME: Eccentric Technology

INDUSTRY: Security/Technology

PRODUCT:. Pantech, a panic
button

·Eccentric Technology is a start-up business in the
security/technology industry, and our first product is the Pantech, a panic
button with a built in camera that starts recording as soon as the button is
pressed. it also sets off a very loud alarm that will alert people that you are
in danger and need help. also when pushed it will send a short recording and
message to the person of choice. I think it helps to mention that you can get
the button in more than just jewelry (some men and women don’t wear jewelry)
and instead can order it as just a clip that can be attached to your clothing,
bags, belts and wrist bands.

·there are similar products but the difference
between our product and theirs is that our product has tjat loud siren sound
and ours can record video when the panic button is pressed

Create a minimum of 235 -word paragraph covering the following:

  • Describe the organization,
  • who are they,
  • what industry they operate in,
  • their mission and values,
  • what makes them different from other organizations.

Cite a minimum of three peer-reviewed sources. One must come from the course textbook or videos and one from the University Library.

Format your paper consistent with APA guidelines.

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