Select any firm which has so far failed in marketing its product, and which is NOT a multinational. All questions below relate specifically to this firm you have chosen. The previous marketing manager has been dismissed, you have been appointed in his place, and have been asked to make a new marketing strategy note for consideration by the CEO. The note should contain:

1. Description of the existing product and the market.
2. What are the key marketing challenges the company is facing?
3. Apply criteria for segmentation, identifying the target segment and the product positioning strategy.
4. Develop a new version of the product, define its features, and forecast its Product Life Cycle, explaining the actions you intend to take in each stage of the PLC.
5. Describe the Multi-channel Distribution strategy you will use to reach customers.
6. How will you determine the Price of the product, considering the target segment?
7. Describe the Communication Mix that you will use to attract customers, explaining the advantages of each communication method.