Mkt/421: Final Marketing Plan
FINAL MARKETING PLAN
Final Marketing Plan
Team C
MKT/421
December 8, 2014
University of Phoenix
Instructor Catherine Lovett
Final Marketing Plan The following paper is the last step in the final marketing plan for Team C’s newly created product for an existing company, which in this case is Nike Corporation. The team was required to compile the last four weeks of assignments in which the team discussed the different aspects of marketing a new product. In this final phase of the five week long assignment, the team was to combine their Strategy and Positioning and Product, Pricing, and Channels papers along with their promotional strategy for the new running shoe into a single Marketing Plan.
In addition to the compilation of the previous papers, the team discussed advertising of the product, public relations, the digital marketing arena, sales promotion of the medically prescribed running shoe, direct marketing, outdoor, and event marketing, as well as an initial budget for the marketing plan, a discussion of …show more content…
The strategy will include a referral program, sampling, free gift, and special pricing. The referral program will allow any individual who purchases a shoe and refers someone to receive five dollars off coupon for any Nike products. Sampling and free gifts would come into the products shoe box. Inside will be a pair of socks with a small sample size deodorizer. Special pricing will be listed for military members or veterans, college students, disabled, and individuals who are sixty-five years or older. They will receive a five percent discount from the product. Another special pricing technique that would be used is during the holidays the shoes will go to forty percent off to improve the marketing of the product. Sales promotions will entice the consumer to look into the product and depending on the deals to them may buy it faster than if there were no sales
Final Marketing Plan
Team C
MKT/421
December 8, 2014
University of Phoenix
Instructor Catherine Lovett
Final Marketing Plan The following paper is the last step in the final marketing plan for Team C’s newly created product for an existing company, which in this case is Nike Corporation. The team was required to compile the last four weeks of assignments in which the team discussed the different aspects of marketing a new product. In this final phase of the five week long assignment, the team was to combine their Strategy and Positioning and Product, Pricing, and Channels papers along with their promotional strategy for the new running shoe into a single Marketing Plan.
In addition to the compilation of the previous papers, the team discussed advertising of the product, public relations, the digital marketing arena, sales promotion of the medically prescribed running shoe, direct marketing, outdoor, and event marketing, as well as an initial budget for the marketing plan, a discussion of …show more content…
The strategy will include a referral program, sampling, free gift, and special pricing. The referral program will allow any individual who purchases a shoe and refers someone to receive five dollars off coupon for any Nike products. Sampling and free gifts would come into the products shoe box. Inside will be a pair of socks with a small sample size deodorizer. Special pricing will be listed for military members or veterans, college students, disabled, and individuals who are sixty-five years or older. They will receive a five percent discount from the product. Another special pricing technique that would be used is during the holidays the shoes will go to forty percent off to improve the marketing of the product. Sales promotions will entice the consumer to look into the product and depending on the deals to them may buy it faster than if there were no sales