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Marketing strategy- group activity

Choose a product which you think will sell very well in your country (this could be a new product or an
existing product such as bottled water). Create a marketing strategy for this product by including
answers to the following questions.
1. Who is your target market? What are the characteristics of the consumers you think will buy
your product? What is their market segment? Justify your answers.
2. How does your product meet their needs? Why will consumers buy your product rather than a
competitor’s product? What is your product’s unique selling point (USP) that makes it different
to your competitors’ products? Justify your answers.
3. What price will the target market be willing to pay? What pricing strategy will you use? Justify
your answers.
4. Which methods of distribution (place) will you use and will these be suitable for your target
market? Which methods of distribution do your competitors use? Justify your answers.
5. What methods of promotion will you use? Remember you may have a limited budget/amount of
money to spend. Decide both where you will advertise and what promotional offers you might
use. Justify your answers.
6. Summarise by explaining why you think your new product will be successful.