Marketing PlanIn this group assignment, you will be required to develop a comprehensive marketing plan for thelaunch of a new banking product or service within your community or country. The goal is toshowcase your understanding of marketing concepts, strategic thinking, and teamwork whileaddressing the specific challenges and opportunities of introducing a financial offering in a real-world context.Task: Your team will create a detailed marketing plan for the new bank product or service. Yourplan should cover all essential aspects of marketing strategy and implementation, and it should bewell-supported by relevant research and analysis.Assignment Guidelines:1. Product/Service Selection : Choose a specific banking product or service to focus on.Explain why you believe this product or service is needed in your community/country andhow it aligns with current market trends and demands.2. Market Analysis: Conduct a thorough analysis of your target market. Define the targetaudience and provide demographic, psychographic, and behavioral insights. Identifycompetitors and analyze their strengths and weaknesses.3. Marketing Objectives and Goals: Set clear and achievable marketing objectives for thenew product/service launch. These objectives should be specific, measurable, attainable,relevant, and time-bound (SMART).4. Marketing Strategy: Develop a comprehensive marketing strategy that includes the 4Ps(Product, Price, Place, Promotion). Explain how each element will be tailored to your targetmarket and contribute to achieving your objectives.5. Implementation Plan : Provide a detailed timeline and action plan for the implementationof your marketing strategy. Specify responsibilities within your team for each task andconsider potential challenges and contingency plans.6. Budget and Resource Allocation : Create a budget for your marketing plan, allocatingresources for various marketing activities. Justify your budget decisions based on expectedoutcomes.7. Evaluation and Metrics : Define key performance indicators (KPIs) to measure thesuccess of your marketing plan. Explain how you will track and assess the effectiveness ofyour strategies.

In today's dynamic financial landscape, the development and launch of a new banking product or…

Answered: Marketing Plan In this group…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Marketing Plan In this group assignment, you will be required to develop a comprehensive marketing plan for the launch of a new banking product or service within your community or country. The goal is to showcase your understanding of marketing concepts, strategic thinking, and teamwork while addressing the specific challenges and opportunities of introducing a financial offering in a realworld context.Task: Your team will create a detailed marketing plan for the new bank product or service. Your plan should cover all essential aspects of marketing strategy and implementation, and it should be well-supported by relevant research and analysis.Assignment Guidelines:1. Product/Service Selection : Choose a specific banking product or service to focus on. Explain why you believe this product or service is needed in your community/country and how it aligns with current market trends and demands.2. Market Analysis : Conduct a thorough analysis of your target market. Define the target…
Marketing Plan In this group assignment, you will be required to develop a comprehensive marketing plan for the launch of a new banking product or service within your community or country. The goal is to showcase your understanding of marketing concepts, strategic thinking, and teamwork while addressing the specific challenges and opportunities of introducing a financial offering in a realworld context.Task: Your team will create a detailed marketing plan for the new bank product or service. Your plan should cover all essential aspects of marketing strategy and implementation, and it should be well-supported by relevant research and analysis.Assignment Guidelines:1. Product/Service Selection : Choose a specific banking product or service to focus on. Explain why you believe this product or service is needed in your community/country and how it aligns with current market trends and demands.2. Market Analysis : Conduct a thorough analysis of your target market. Define the target…
Your city is planning to open its new town hall and courthouse in six months. A big celebration is being planned. You have been asked to market the event, for maximum exposure and citizen participation. You have been told that a press kit is necessary, but that you should seek other marketing avenues as well. 1. What items may you include in your press kit? 2. What details must you include in your press release? 3. What other community assets may you solicit to support the marketing program?
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Your store has begun making a new meal-replacement drink—it costs $5.00 to produce a 6-pack of drinks (or $0.83.33 per drink). These drinks are being marketed as full meal replacements for individuals who are looking to lose weight. You and a small team have been tasked with pricing this product, as well as proposing the in-store display for its sale. Part 1 Your task is to propose a price for this new drink product. Take into account the cost of producing the product, the potential cost of transporting the product and marketing the product. Your company is trying something new with this product; while the store has sold this type of drink before, this is the first time they have produced such a product. Your company has had success in selling other company-branded food products but having its own branded product will be a new venture. Write a short essay (400 words minimum) outlining your reasoning for the price you choose. Be sure to include the specifics of production,…
1. Analyze the historical role of marketing in Financial Services organizations. Based oncurrent trends, predict the potential future evolution of marketing within this sector.2. Identify and analyze specific marketing strategies used by companies. Develop criteria bywhich you would assess the effectiveness of these strategies, taking into account theiralignment with business goals.
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How do you create a marketing plan for your Walmart that enhances organizational efficiency and effectiveness through the application of ACBSP key business domains of accounting, finance, statistics, economics that outlines where the business is, its desired destination (objectives), and conditions it will face in efforts to reach that destination, how to integrate activities, schedule resources, specify responsibilities, and provide a means of measuring progress?
4. Given a historical context of marketing, assess the present role of marketing in the Financial Services organizations and predict how marketing might "look" in the future.5. Identify specific marketing strategies utilized and develop criteria by which to analyzethose strategies.

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