Under Armour is launching a snack bar.You are the Marketing Manager responsible for the conception of the
Question:
Under Armour is launching a snack bar.You are the Marketing Manager responsible for the conception of the product and the marketing strategy. You have complete authority in deciding what kind of a snack bar it will be and to whom it will be targeted. You are presenting the Marketing Mix to the CEO, explaining your Marketing Plan comprising of the target market and the 4 P's of Marketing.
1. Define your Target Market in detail. Make sure you give a complete description of your target market: Demographics, Geography, Psychographics (also, their miracles and miseries).
2. Based on the target market, conceptualize the product. What will be the ingredients? What will be the packaging?
3. What pricing strategy will you use? Why will you choose this strategy and not the other strategies? Make sure you touch on Penetration, Skimming, Everyday Low Price and High-Low Strategies in your response.
4. Explain your promotional strategy in detail.
Your answer should include how you will use all the above four in your promotional strategy.
5. How will you distribute your product.