Practice for a Marketing plan

You work for a multinational organization .Your organization is bringing a new product into the market. (Use other product mix than the given example)

	Application	Explanation
1.	Choose a Convenience product. Give details of the product assortment. (e.g. if the product is bread the product mix can be low salt bread, wheat bread, bread with nuts, Low calories bread, eggless bread. Etc.)
2.	Explain why this product is called Convenience product? (Explain in terms of Time and effort).
3.	In which stage of the lifecycle is this product? Explain why you think so ? a.       Introduction b.      Growth c.       Maturity d.      Decline
4.	Who are the competitors for this product? Name them. Explain why you have identified them as competitors.
5.	Give your product a brand name .Explain why you have chosen this name? Will you choose a.       a family brand name b.      an individual brand name c.       a Manufacturer brand d.      Private brand.
6.	Which place strategy/ Strategies will you choose? a.       Intensive b.      Exclusive c.       Selective Explain why you have chosen the strategy?
7.	Which promotion strategy /Strategies will you choose? Explain why? a.       Personal selling b.      Mass selling                      i.            Advertising                    ii.            Publicity c.       Sales promotion
8.	How will you decide the budget? Explain why? a.       Percentage of sales b.      Objective method
9.	Which pricing strategy/ Strategies will you choose? Explain why? a.       Product Mix Strategy                      i.            Product Line                    ii.            Optional product                   iii.            By product                  iv.            Captive Product                    v.            Product bundling b.      Price adjustment Strategy                      i.            Discounted                    ii.            Segmented                   iii.            Psychological                  iv.            Promotional pricing