ar Plate Spinning Machine

$3$ Marketing Strategy

$3\mathrm{.}1$ Market Segmentation

Identify and define distinct segments within your target market

based on demographics, psychographics, and behavior.

$3\mathrm{.}2$ Positioning and Branding

$\blacksquare$ Clearly define the unique value proposition of your innovative

solution.

$\blacksquare$ Determine the desired positioning in the market and how it

distinguishes your solution from competitors.

$3\mathrm{.}3$ Product Promotion

$\blacksquare$ Develop a promotional mix that includes advertising, public

relations, personal selling, and sales promotion.

$\blacksquare$ Specify the channels and platforms for promotion, considering

online and offline mediums.

$3\mathrm{.}4$ Digital Marketing

$\blacksquare$ Develop a digital marketing strategy encompassing social

media, content marketing, search engine optimization $($SEO$),$ 

and online advertising.

$\blacksquare$ Utilize digital channels to engage with your target audience and

create awareness.

$3\mathrm{.}5$ Distribution Strategy

$\blacksquare$ Outline the distribution channels through which your innovative

solution will reach consumers.

$3\mathrm{.}6$ Pricing Strategy

$\blacksquare$ Determine the pricing model for your product, choose one from

cost$-$based, value$-$based, or competition$-$based pricing.

$\blacksquare$ Explain how you set the price of your product. Relate with the

pricing method discussed previously.