Brand Extension Marketing Plan;Introduction: The major project in this course is to complete a Brand Extension Marketing Plan for one new product on the behalf of an existing for-profit organization.;Using the Marketing Plan guide found in Doc Sharing, complete and submit the following components of your Marketing Plan.;Tip;The guide you should use for all Marketing Plan assignments is in Doc Sharing.;The Kotler & Keller text is extremely helpful to you when completing your ongoing weekly assignments.;During each unit of our class, a new component of the Marketing Plan will be due.;Unit 4: Marketing Plan - Developing Strong Brands;3.5 Positioning (refer to Chapters 9 and 10 of your Kotler text);Describe how your product/service meets the need(s) of your target market segments.;Describe how you are different from your key competition. What is the most distinguishing feature of your new product?;3.6 Strategies: Skip this Section.;3.7 Marketing Mix (refer to Chapters 12, 14 & 18 for help with this section);Product;What makes your product different from the competition?;What gives your product more value than the competition?;Price;How will you determine what price to charge for your product?;How will go determine what your product is worth?;How will your pricing strategy set you apart from your competition?;Place;How do you plan to distribute your product? Do you have alternative delivery methods in mind? If so, describe in detail.;Will you take responsibility for distribution, or will you reply on an outside firm? How will you decide?;Promotion;What kind of promotional tools will you use? Describe in detail.;How will you determine what promotional tactics will work best?;With a limited promotional budget, how do you plan to gain market share?;How will you go about evaluating the results of your promotional campaign?;3.8 Marketing Research (refer back to Chapter 4 for help with this section);What type(s) of marketing research to you think will work best to get you the information you need to make informed decisions?;How will you evaluate whether the research is providing you with the results you need?;Will you conduct the research yourself, or hire an outside firm? Explain why.
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