Colorado State University Samsung Company Marketing Plan Paper

Marketing Plan: Part 1

New Product Launch for an Existing Company

• Company Description
  • This section includes a brief description of the company, including its mission statement, background, and competitive advantages.
• Mission Statement
  • Use the existing company’s Mission.
• Product Description
  • Detail what your new product is, key features, benefits, and what problem it addresses for the customer.
• Market Analysis
  • Discuss what advantages do you have over your competitors?
    • A competitive advantage is something the company does better than its competitors and that competitors cannot easily replicate. Actions that initially appear to be a competitive advantage but can be easily replicated often become common practices.
  • Create a SWOT Analysis— using a 4-quadrant chart with 2-3 Strengths, 2-3 Weaknesses, 2-3 Opportunities, and 2-3 Threats facing the company.
• Goal and Objectives
  • Clearly define what the goal of your plan.
  • Create 2-3 bulleted objectives (these should be action items to achieve the goal).
  • Make objectives measurable and quantified.
• Marketing Strategy
  • Be clear on your strategy and rationale for choice: market penetration, market development, product development, and diversification.
  • Marketing Mix using the 4P’s.
    • Product
    • Price (what is the pricing structure and strategy you are using and why)
    • Place (discuss how will you customer get the product)
    • Promotions (discuss how will they find out about your product; any special promotions you will use)
• Positioning Map and Strategy
  • positioning strategy of the product or company
  • Positioning map (image showing how it fits in the competitive landscape)