Discussion Assignment | Buy Assignments Online
Your term project for this class is a 15-page marketing plan for the product or service that was approved in your week one proposal (see attachment). It is to follow 6thedition APA format and be of a quality graduate level. Don’t forget to use an appropriate amount of references (8-10) for a paper of this length.
Your marketing plan must adhere to the following:
1. All sections must be complete and provide sufficient details
2. Contain appropriate section titles as outlined in the sample paper provided (see “Sample” attachment)
3. APA 6th edition
4. 15 pages (excludes title and reference pages)
5. Sufficient supporting research
PLAGIARISM REPORT REQUIRED!!!
Electronic Marketing Plan
Electronic Marketing Plan
The company described is a giant electronics company LG with a product innovation which desires to reach new markets and will requires a unique marketing strategy to penetrate new markets. The new improvements encompass a new type of screening for electronic devices that are flexible and can easily be rolled like paper. This system targets the much-needed convenience for electronic device uses in the changing dynamic society today.
The first initial steps of reaching a new market with the improved innovative ideas of the market expansion strategy would includeadequate research. This would enable businesses to develop their markets sufficientlyto achieve specific goals and compete effectively with the current diverse business outfit. At the onset of the new marketing development strategy, the existing company must engage in idea generation, evaluation, the definition of the specific terms of the idea, strategic analysis, and the field testing and concept actualization in the market. (Zahra et al, 2011).
The organization conducts a strategic analysis of the new market to come up with the actual market demand framework. In this way, there is a need to define the specific requirements and customer behavior of the new market such that the improved status of the product best suits the demands of the general market. The main goal is to come up with an absolute marketing strategy that would make the product more appealing to a wider population within the area involved in the marketing strategy.
The concept is then tested in the market to determine its success and requirements for improvement. Ideally, this must be done after the completion of the idea screening phase. According to (Sassen,2016), it is important to identify the areas within the vast market where the new strategies would work most effective to capitalize in the desired areas. Finally, the new market strategy can be launched and commercialized when all conditions are met by the design.
Sassen, S. (2016). The Global City: Strategic Site, New Frontier. In Managing Urban Futures (pp. 89-104). Routledge.
Zahra, S. A., Ireland, R. D., &Hitt, M. A. (2011). International expansion by new venture firms: International diversity, mode of market entry, technological learning, and performance. Academy of Management journal, 43(5), 925-950.