Marketing Plan Strategies Essay Paper

As a brand manager, for a product of your choice, develop a strategy for launching the product in a manner most likely to capture the attention of the product\’s primary target market.
Write a 500-1,000-word paper describing the product and outlining your strategic approach to marketing this product. Discuss some of the social and ethical issues for this industry and product. Identify strategies for addressing concerns about these issues with the primary target market.
Prepare this assignment according to the APA guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.
This assignment uses a grading rubric. Instructors will be using the rubric to grade the assignment; therefore, students should review the rubric prior to beginning the assignment to become

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Marketing plan strategies

A marketing plan is a report that deliberately outlines how a product or service will be delivered to the targeted customers. In fact, a marketing plan offers details on how the business entity can offer its services and products to satisfy the needs of its target market. While preparing a marketing plan, there is a need to consider the ethical and social implications of the plan with a focus on ensuring that the target market has real needs, and the product/service meets that need. Marketing Plan Strategies Essay Paper  Over the long term, the product or service should allow the customers to derive the expected benefits from use, thereby qualifying as ethical and social marketing (Winston et al., 2013). The present discussion presents an outline of a marketing plan applied for Exact Heaters.

Exact Heaters is a product that uses waste cooking oil to control temperature in buildings and is priced at $300 per unit. It is marketed to residential and commercial buildings as a cost effective, environmentally friendly, and long-lasting temperature control unit. Firstly, it is cost effective since it uses advanced temperature control technologies thus ensuring that fewer power units are used when compared to other competing products in the market. Also, it uses waste oil that is typically discarded and can be cheaply sourced. Secondly, it is environmental friendly since it uses fewer power units and repurposes waste oil that would otherwise pollute the environment. Thirdly, the product can be directly sourced from the company or from selected retailers at the recommended retail price of $300. Finally, it is a long-lasting product that made with durable products and is installed with a five-year service guarantee. Other than the noted values of the product, there are safety concerns with regards to its use, noting that only water cooking oil is safe and any other waste oil could cause the product to malfunction.

The marketing plan for Exact Heaters observes ethical and social principles. Firstly, the plan encourages safe use of the product through noting the specific oil that can be safely used in the product, thus emphasizing the dangers from using the product and how these dangers can be reduced. Secondly, it does not apply deceptive marketing since the product is clearly and honestly presented while highlighting the qualities that would appeal to the market thus making it convenient for the market to purchase the product at a price that they are willing to pay. In fact, the plan advertises the plan that the product supports, claiming that it satisfies the particular building heating needs related to the product. Thirdly, the plan does not manipulate the market since supply is matched to the demand through ensuring that the market can get the product from either the company or selected retailers at the recommended retail price. Finally, the product has been fairly priced with competitive market prices that allow the company to make a profit without unduly burdening the customers (Hutt & Speh, 2013; Westwood, 2013).

One must acknowledge that a marketing plan is an important tool that allows companies to present products and services to customers. In addition, one must acknowledge that the marketing plan offered for Exact Heaters offers an overview of the advertising and marketing objective with a description of the product, target market, and its needs. In addition, the plan preempts ethical and social issues through addressing safety, deception, market manipulation and pricing concerns.

References

Hutt, M. & Speh, T. (2013). Business marketing management: B2B (11^th ed.). Mason, OH: South-Western.

Westwood, J. (2013). How to write a marketing plan. London: Kogan Page Publishers.

Winston, W., Stevens, R., Sherwood, P. & Dunn, J. (2013). Market analysis: assessing your business opportunities. London: Routledge. Marketing Plan Strategies Essay Paper