Question: If Lexus decides to market a bicycle in the US, how would you develop a marketing plan?

Use the following template to develop a marketing plan:

Product Description

• Functions/Features
• Design/Color
• Materials
• Others

Target Segment

• Geographic Segmentation (Nation, states, cities, urban/rural, climate, terrain)
• Demographic Segmentation (age, ethnicity, gender, occupation, income, education, religion)
• Psychographic Segmentation (AIO, Lifestyle, values, attitudes, personalities)
• Behavior Segmentation (User status, brand loyalty, usage/consumption rate/frequency)

Positioning

• By attributes, benefits, usage occasions product category/class, competitors, users, affiliates

Distribution

• Department stores, specialty stores, category killers, direct-to-consumers(online), showrooms

Pricing

• Skimming, Penetration, product line pricing, option pricing, high-low pricing

Promotion

• Media: TV, radio, print, Google, social media, outdoor(billboards, transit)
• PR: public relations, cause marketing, sponsorship
• Sales Promotion: coupons, discount, premiums(free gift)

Relationship Marketing

• Loyalty Programs, newsletters, social media, email...