Marketing Plan For A New Product Essay

Marketing Plan For A New Product Essay

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This paper will detail a strategic marketing plan for a new product that is ready to “go to market”. A strategic marketing plan is important when presenting a new product or service because it ensures that the maximum amount of profit can be obtained for the product. A good strategic marketing plan provides focus and helps to pinpoint opportunities. A strategic marketing plan incorporates an executive summary, target marketing, place, product, pricing and promotional strategies, and a distribution plan.













Product
New products need to be constantly introduced to keep up with the ever -changing demands of the consumer. New product introduction is vital to the overall welfare of any organization according to (Ledwith and O 'Dwyer (2008). Heaven’s Helper for Hair is a line of battery operated, portable titanium flat-irons and curlers. The product is able to last up to 12 hours on a single charge. The product has long-lasting lithium batteries installed in the base which can be mounted inside of a rechargeable case, when not in use. The barrel of the flat-iron and curlers are made of 100% light-weight, lustrous titanium. There are 12 heat settings up to 360 degrees, these setting regulate themselves by adjusting the texture of the hair. The product folds away neatly into a 5 x 6 inch carrying pouch. This very exclusive and revolutionary product called Heaven’s Helper for Hair is the only line of titanium flat-iron and curlers that work without electricity, is portable and exudes high levels of heat. Heaven’s Helper for Hair’s understand that hair is considered one’s crowning glory. They are also aware that beauty radiates from inside out. With these thought in mind they have developed a product that will have all those who...


... middle of paper ...


...chase with no questions asked.
Customer Relationship Management
Heaven’s Helper for Hair products will use Customer Relationship Management software to do a variety of things; build and maintain important customer and company data, manage sales, marketing, Points of Sale, accounting, data analyzation, forecasting and security of their website. The CRM that they will used is called Salesforce. Salesforce is cloud-based system which means increased capacity and functionality.


Conclusion
A strategic marketing plan is not always easy to build but is a very necessary tool to use when introducing a new product to the market. A strategic marketing plan is essentially a plan of tactics and actions that the business will take to ensure the profitability of the product. Not having a strategic marketing plan is comparable to building a house without a blueprint.

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