Imagine you are creating a marketing plan for a company that will sell kites. As you consider the marketing program, what types of strategy should you consider including in the plan? Propose one specific example of each type of strategy that you are considering and present your rationale (reasoning) for your strategy selections. What about for a company that will sell bikes?
Managing the product through successive stages of the product life cycle is an important role for a product manager. Assess the three ways to manage a product through its life cycle including examples to help clarify your assessment. Indicate the reasoning why you would prefer one method over another in a given situation. You can use any product in your examples. In developing a marketing plan for a company that sells kites I would first consider my objectives in selling kites: what share of market do I want to achieve? Who is my target market? What is the unique selling proposition my company offers? I would list the key target markets and learn everything about the core customer: demographics, psychographics, purchasing habits, media habits, and other market drivers. It would be important to be able to match the values required in the key target markets with my product offerings. In order to do this I would look at the four P’s: product, price, place, promotion.
The company must create value
for the customer by offering a discernable advantage to the customer purchasing kites. The company must also perform a SWOT analysis to better understand the market place.
In the case of selling kites, I would canvas the current market and access the competitors. What are they doing well? Which companies have the most sales? Why? How are their prices? Their products? What is missing in the offerings of kites? What opportunities are there? Are there potential threats to the market- this might be changes in legislation (too dangerous) or the threat of new revolutionary products). By going through this process one would be able to create a definite strategy to successfully market kites.
If I were developing a strategy for kites, I might determine that there is a large market for artisanal kites, made by famous celebrities, like Judith Lieber, Yoko Ono, or Gillian Wearing. These would be used in home dÃ?©cor and sold at …
This detailed solution is a marketing plan for selling kites, including the strategy that should be utilized and rationale for this strategy. The solution also goes through a similar process for selling bikes. It discusses how to manage a product through the product life cycle, with three different ways, including examples and reasons. APA formatted references are included.
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