Produce a marketing strategy for a new or existing product

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Mohammed Shaqeeb 13ADO

Mr Perry



In this unit I will need to produce a marketing strategy for a new or existing product. The company that I have chosen is boots. My strategy will need to include evidence and information about:

∙         how the strategy is based on the principles of marketing

∙        How I have used sources of primary and secondary marketing information

∙        How I have analysed the impact of the external environment on your marketing decisions

∙        How I analysed the marketing context and decided on an appropriate strategy

∙        How I have developed a coherent mix of strategies to meet consumer needs.

I will also need to produce an oral presentation. First I will define what are marketing and its principles.

Marketing is a way of advertising something. It is a way of thinking.


The set of actual of potential users/customers.  

Market area 

A geographical area containing the customers/users of a particular firm/library for specific goods or services.

Market demand 

The total volume of a product or service bought/used by specific groups of customers/users in a specified market area during a specified period.

Market development  

Expanding the by present users.

Market positioning 

total market served by 1) entering new segments, 2) converting nonusers, 3) increasing use Positioning refers to the user's perceptions of the place a product or brand occupies in a market segment. Or how the company/library's offering is differentiated from the competitions.

Market profile 

A breakdown of a facility's market area according to income, demography, and life style

Market research

The systematic gathering, recording and analysing of data with respect to a particular market, where market refers to a specific user group in a specific geographic area.

Market segmentation

The process of subdividing a market into distinct subsets of users that behave in the same way or have similar needs. Segments for the library could be demographic (Asian); geographic (branch-level); psychographics (leisure-oriented); customer size (largest user group area); benefits (have children in the home learning to read.)

Market share

A proportion of the total sales/use in a market obtained by a given facility or chain.


The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals.

Marketing channel

A set of institutions necessary to transfer the title to goods and to move goods from the point of consumption. (Vendors, publishers, library facilities.)

Marketing mix

The mix of controllable variables that the firm/library uses to reach desired use/sales level in target market, including price, product, place and promotion- 4 P's.

Marketing opportunity

An attractive arena of relevant marketing action in which a particular organization is likely to enjoy a superior and competitive advantage.  Marketing plan a document composed of an analysis of the current marketing situation, opportunities and threats, analysis, marketing objectives, marketing strategy, action programs, and projected income statement

Marketing is the management process that is responsible for identifying products that would be likely to make a profit when sold and then selling these products to customers. Marketing finds out what consumers want and then attempts to meet those needs, at a profit. It a can also be defined as getting the right product to the right place at the right time. It is not the same as selling- that is making people buy what you've got. Marketing is making people want what you've got. The aim of marketing is to make selling superfluous. The aim is to know and understand the customer so well that the product or service sells itself.

When marketing a product you need to consider the 4 p's. Getting the mix right is essential to successfully market your product.

The four P's are:

∙        Product- can be a good or service. In competitive markets, businesses have to be customer driven. They may use types of product differentiation (e.g. package design and/or a brand name) in an attempt to convince potential customers that their good or service is different from competitors' products.

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The four types of products are:

1. Star

- High share of market in the 'growth' stage of the product life cycle.

-Requires significant injections of capital to finance the rapid growth.

-May have negative cash flows but seen as having potential for high sales, and profit.

2. Cash Cow

-High markets share, bringing in high sales revenue, cash flows and (usually) profit.

-No market growth likely.

-Product may have a personality/image in the market.

-The large amounts of cash bought in can be used to subsidise 'stars'.

3. Problem Child

-Low share of ...

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