Based on the market research and analysis, identify a new or existing product opportunity for a new target market. Describe in detail the product, target market selected, and why this is a fit. Explain how this fills a customer need and has potential to significantly increase revenue. Make sure to provide external resource information that supports your claims. 6. Financial Projections – Discuss the amount of money the company is currently spending and profits. Project the amount of profit that the company anticipates in generating over the next year by implementing this marketing plan. Include a best case, break-even, and worst-case scenario. 7. Marketing Strategy – Describe the recommended marketing strategies to be utilized in the marketing plan. Consider the product opportunity, new target market, and 4 p′s in this section (price, product, placement and promotion). 8. Marketing Implementation – Define the company′s short term promotional goals and objectives and state how the company will accomplish them. Consider different IMC strategies – traditional media, advertising, social media, electronic, video and mobile in the plan. 9. IMC Campaign – Describe the company′s IMC campaign message, creative brief, and promotional budget uses. Show ad examples for the media channels to be included. 10. Evaluation – Determine which marketing metrics will be used to measure market plan performance and improve company success during the marketing implementation phase of the project. Be specific.
