Choose a single target market to focus your marketing plan on. Develop a detailed Target Market Profile. Your Target Profile can be submitted as a “Day in the Life”, a Collage, or any other format you deem appropriate that helps answer the question “Who is the primary market to purchase my product?”(ie: who is Most Likely to buy the most from me?)Your profile should include a summary of the customer’s needs and wants and a description based on variables such as demographics, psychographics, lifestyle etc. (10 marks)
Develop a market Positioning Map using 2 dimensions that you think are important to your target market and including at least 4 other competitors. Remember to name your Axis labels. Create a Positioning Statement and Tagline for your product (10 marks)
Draw a Product Life Cycle and identify the stage that you think your product is at on it. Explain why you think that your product is at this stage. What marketing strategies should be considered next? (10 marks)
Identify and critique your product’s current pricing (i.e. do you think that the current pricing is appropriate? Why?). Make a recommendation as to what objective, strategy and tactics type of pricing your product should be taking. Explain (10 marks)
Given your identified target market, the product life cycle, and the competitive landscape shown in your positioning, Identify a minimum of
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