A marketing plan incorporates many factors. Product, price, place, and promotion all need to be evaluated and researched and taken into account. The following is the marketing plan for a new oatmeal product.
Marketing Plan: Oatmeal
In marketing there are several parameters that can be managed in order to create a successful product line. The product, place, price, and promotion of a product line needs to meet the needs of a company's target base. The marketing plan for a new oatmeal product will evaluate all of these factors and create a strategy to promote sales and growth.
Definition of Marketing
Marketing is defined differently depending upon who is defining the word. In fact, even the American Marketing Association changes their definition from year to year (Kerin, Hartley, & Rudelius, 2011). Marketing covers a broad area, including factors such as research, design, and distribution. Marketing involves actions to create a product or service that meets the needs of consumers and bring that product or service to a target audience.
Introduction of Product/Service
Oatmeal, a cholesterol lowering food, is consumed by a wide variety of consumers. It is not ethnic, gender, age, or income specific. Oatmeal in its simplest form can be described as the old fashion oats, packaged in the classic oatmeal canister, such as that produced by Quaker Oats (Quaker, 2011). There are many other oatmeal products on the market though. Instant oatmeal is created in several flavors like peaches and cream, strawberry, cinnamon, and brown sugar.
Situation Analysis -- Marketing Environment Forces Impacting Product/Service
. There are many environmental forces that marketing professionals must take into consideration when designing a marketing plan for a product. Social, economic, technological, competitive, and regulatory environments must be evaluated as they relate to a specific product or service (Kerin, Hartley, &... [continues]
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