Overview
The name of the product: Macan Turbo S 2024
The manufacturer of the product: Porsche has been producing the Macan, a compact luxury crossover SUV, since February 2014. Porsche is a German luxury car brand that is part of the Volkswagen Group. Porsche has two main plants in Germany, one in Zuffenhausen and one in Leipzig.
Detailed Marketing Plan Outline for the Semester Project
The following outline should be followed in completing the semester project. Papers should be written in a narrative (paragraph) format.
Product Background
Introduce the new product. Describe what the product is and what it does. The introduction might include: consumer demand, product usage, attributes, benefits to the target market, competitive edge, branding, labeling, packaging, support services etc.
What is the geographic area in which the product will be sold?What kind of image does the product have? (such as cheap but good, exclusive, customer-oriented, highest quality, convenience, or speed
Company (Manufacturer) Background
Include the name and history of the manufacturer, its other products and services, etc.
Include the company’s mission statement (if you can find it).
Strategic Issues
Discuss the current business environment for the new product.
What are the internal and external issues which could affect next year's business? (Look for industry forecast information)
Include details about other new product introductions in the same company, industry consolidations or expansions, new distribution outlets, or a major change in industry pricing, etc.
Target Market
Describe the target market for the product. (Example: 18-25 year old females who are interested in fashion, retirees, people concerned about sugar and calories in their soft drinks, etc.)
Remember there may be more than one market segment targeted.
Describe demographics, psychographics and buyer behavior as they relate to your product.
If the market segments are differentiated by ethnicity or have an international focus, examine the aspects of the marketing mix.
Competition
SWOT
Create a SWOT analysis for the company and the new product.
What are the strengths and weaknesses compared to the competition (consider such areas as location, size of resources, reputation, services, personnel, etc.)?
What are the opportunities and threats of the product/service? How might these opportunities be exploited and the threats minimized or eliminated?
COMPETITION
Describe the competitive environment for the product.
Create profiles of the top two (2) competitors with details of those competitors and the products which compete with your profiled company’s new product.
Develop a market share assessment for the new product in relation to its competitors
Pricing
What is the price of the product?
How does the price compare to that of the competition?
Discuss the possible rationale for pricing the product at this amount.
Promotion/ Advertising
How does the company promote their product? Do they use any of the following channels?
-Television -Internet
-Radio -Personal Contacts-
Direct Mail - Billboard (Outdoor advertisement)-
Newspapers -Trade Associations
-Magazines -Social Media
What message is the company attempting to get across to the consumers?
Why is the media chosen the most effective?
Distribution
Where can consumers find the product or where can they obtain the service?
Is there sufficient distribution and availability of the product to ensure its access and success?
Are there any “weak links” in the distribution chain that might create a problem in getting the product/service to the customer?Positioning Statement
Describe the company's positioning for the next year. This positioning statement should be one sentence long.
Here’s where you get creative. Make up a “new” tag line that can be used in advertising and promotion and something that the sales staff can say quickly and concisely.
A few examples of a tag line are:
Can you hear me now? – Verizon Wireless.
Five dollar foot long — Subway.
What’s in your wallet? – Capital One.
What happens here, stays here – Las Vegas Convention and Visitors Authority.
Easy, breezy, beautiful Covergirl – Covergirl makeup.
It gives you wings — Redbull
Summary
Provide your assessment for the future success of the product based on the analysis that you have done of the product.
How to Cite Your Sources (References) the link below.
Project Overall