Marketing Plan: Phase Three

Topics: Marketing, Pricing, Marketing management Pages: 4 (1212 words) Published: May 14, 2014

Marketing Plan: Phase Three
Team D
University of Phoenix

Marketing Plan: Phase Three
Phase three of the marketing plan for Celebrate the Life Cups will focus on the product attributes, the pace in which the product will move through the product life cycle, positioning and differentiation strategies, and how to identify the appropriate price strategy it should be used to sell the product. Attributes

Attributes are considered to be characteristics or features of a product that are thought to appeal to customers. Armstrong and Kotler (2011) refer to product attributes as the lowest level in brand positioning. Brand position or product position is a way that consumers define a product’s attributes, in other words, it’s the position of a product in the mind of a consumer in relation to the product’s competitors. Armstrong and Kotler state…consumers are overloaded with information about products and services…they cannot reevaluate products every time they make a buying decision…to simplify the buying process, consumers organize products, services, and companies and “position” them in their minds. This is done by defining a product or service based on attributes. Product positioning is the process market managers use to determine how to best communicate their products' attributes to their target mix based on consumer needs, competitive pressures, available communication channels and carefully designed messages. Positioning requires that market managers define and communicate the similarities and differences between their brand and its competitors. The real trick in positioning is to strike just the right balance between what the brand is and what it could be (Kotler & Keller, 2011).

Our attributes for the Celebrate the Life Cups cup is a disposable, pre-packaged double sealed wafer and wine set, making celebrating Communion pleasant and convenient. The strategy at Compak Companies LLC is to establish a branding similar to...

References: Armstrong, G. & Kotler, P. (2011). Marketing: An introduction (10th ed.). Upper Saddle River, NJ: Prentice Hall.
Perreault, W. D. Jr., Cannon, J. P., & McCarthy, E. J. (2011). Basic marketing: A marketing strategy planning approach (18th ed.). New York, NY: McGraw-Hill Irwin
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