Marketing Plan Final Project Option Choose a company to create and launch a new product for. Ideal company characteristics are: Not too big or small. You need to be able to research and find enough data for the project. (If you choose a very large company, you may be able to select one division of the company for this project.) Has management or leadership that is accessible (or whose necessary company info is visible). Has real customers and real employees Your goal is to create a marketing plan, according to the structure discussed in chapter 16, to launch a new product for the company. The new product should: Target the same market as the company currently targets (if the company targets several markets, then choose the appropriate one). Align with the company's vision and branding Keep in mind that you will need to research and find information about the company, its industry, its competitors, and the potential for any product you envision. An example of what you will need to research: The company identity The target market The industry The external environment As you choose a company and brainstorm a new product, you'll want to step through the marketing plan outline, deciding on elements such as a positioning statement. You'll also determine how you will use the marketing tools - the Ps of marketing - to most effectively target your market and launch the product. Corporate Identity Summary of Corporate Identity BeneFIT represents themselves as a healthy lifestyle company meant for people who workout and have a curvy or for men with bulky bodies and want to accentuate their body. Strategic Overview Target Market 1) Unisex 2) Health Care Workers 3) People who are athletic 4) Ages 18-36 Target Market Segment to target. Our product will be a slip on sneaker for healthcare employees which are comfortable and lightweight. These shoes can be worn in tandem with the scrubs, and can be useful due to the design creating an anti slip product. Health care employees are always on their feet and the last thing they need is an uncomfortable pair of shoes, so these new shoes 'will help the employee look and feel their best. Product/Service Overview of product/service. How does it fill needs and fit with company identity? Environmental Factors Opportunities LL IN Environmental Factors Situation Analysis Environmental factors, opportunities, threats, etc. Opportunities 1) Healthcare is an essential need in society 2) Employees need shoes and scrubs to do there day to day tasks 3) Being Anti-Slip these shoes will be promoted among the healthcare industry Threats 1) Shortages of material due to the pandemic. 2) Having comparable prices with competitors such as Nike and Adidas 2 | Page Product/Market Objective Positioning Statement The Marketing Tools Develop the strategic elements for the new product/service Lightweight Anti Slip Shoes Footwear for healthcare workers who need a footwear that is light, reliable, and practical for their duties. Product We can promote over social media of this new product. The presence that BeneFit has on Facebook can help to reach out to their target demographic, and the mention of other social media can further their reach. Promotion $44.99; provide a reasonable price that compares to the products that they have in line already. Price Place People 3:14 5 6 17 Place People Process 3 | Page Customer Response Assessment Plan For customer responses, we can put forth a survey for those who bought the shoes, and ask about how the shoes contributed or hindered them in doing their tasks. With this feedback in mind, we can improve the product from any of their shortcomings. Marketing Plan Final Project Option Choose a company to create and launch a new product for. Ideal company characteristics are: Not too big or small. You need to be able to research and find enough data for the project. (If you choose a very large company, you may be able to select one division of the company for this project.) Has management or leadership that is accessible (or whose necessary company info is visible). Has real customers and real employees Your goal is to create a marketing plan, according to the structure discussed in chapter 16, to launch a new product for the company. The new product should: Target the same market as the company currently targets (if the company targets several markets, then choose the appropriate one). Align with the company's vision and branding Keep in mind that you will need to research and find information about the company, its industry, its competitors, and the potential for any product you envision. An example of what you will need to research: The company identity The target market The industry The external environment As you choose a company and brainstorm a new product, you'll want to step through the marketing plan outline, deciding on elements such as a positioning statement. You'll also determine how you will use the marketing tools - the Ps of marketing - to most effectively target your market and launch the product. Corporate Identity Summary of Corporate Identity BeneFIT represents themselves as a healthy lifestyle company meant for people who workout and have a curvy or for men with bulky bodies and want to accentuate their body. Strategic Overview Target Market 1) Unisex 2) Health Care Workers 3) People who are athletic 4) Ages 18-36 Target Market Segment to target. Our product will be a slip on sneaker for healthcare employees which are comfortable and lightweight. These shoes can be worn in tandem with the scrubs, and can be useful due to the design creating an anti slip product. Health care employees are always on their feet and the last thing they need is an uncomfortable pair of shoes, so these new shoes 'will help the employee look and feel their best. Product/Service Overview of product/service. How does it fill needs and fit with company identity? Environmental Factors Opportunities LL IN Environmental Factors Situation Analysis Environmental factors, opportunities, threats, etc. Opportunities 1) Healthcare is an essential need in society 2) Employees need shoes and scrubs to do there day to day tasks 3) Being Anti-Slip these shoes will be promoted among the healthcare industry Threats 1) Shortages of material due to the pandemic. 2) Having comparable prices with competitors such as Nike and Adidas 2 | Page Product/Market Objective Positioning Statement The Marketing Tools Develop the strategic elements for the new product/service Lightweight Anti Slip Shoes Footwear for healthcare workers who need a footwear that is light, reliable, and practical for their duties. Product We can promote over social media of this new product. The presence that BeneFit has on Facebook can help to reach out to their target demographic, and the mention of other social media can further their reach. Promotion $44.99; provide a reasonable price that compares to the products that they have in line already. Price Place People 3:14 5 6 17 Place People Process 3 | Page Customer Response Assessment Plan For customer responses, we can put forth a survey for those who bought the shoes, and ask about how the shoes contributed or hindered them in doing their tasks. With this feedback in mind, we can improve the product from any of their shortcomings