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Question: If Lexus decides to market a bicycle in the US, how would you develop a marketing Plan? Use the following template: 1.Product Description Functions/Features

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

Use the following template:

1.Product Description

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

2.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)

3.Positioning

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

4.Distribution

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

5.Pricing

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

6.Promotion

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

7.Relationship Marketing

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

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