Marketing In a Digital World

Overview

Develop a full marketing plan for the product/service: AI Integrated Smart Closet

The idea is that luxury is on an incline even with increasing inflation. Middle class is still spending even with declining flexible savings in their bank accounts. The product would be a smart closet in which inventory is kept of what clothes are in there and based off the occasion and time of day the AI smart closet would pick out the outfit and accessories. The closet would also generate options to show you what you would look like in the generated options.

1500 words. You may use this idea and make it your own but AI Integrated Smart Closet must be a part of it.

Your report should include at least the following:

description of your offering

a clearly identified target group(s)

analysis of competition

branding elements supporting the positioning of the product

suggestions on pricing

suggestions on channel management (distribution)

suggestions on the promotion element of the marketing mix

marketing goals and specific KPIs to monitor performance vs. goals