In order to do this, you will need to draw extensively on your knowledge and understanding of the BUMKT1501 course content. Your marketing plan should comprise the following sections: 1. What is the value proposition for your product? In other words, what bene?ts will it o?er, and what “costs” are involved in buying/using it? 2. What elements of the Macro-Environment will have the biggest influence on your Marketing Strategy? Why? 3. Who is the target market for your product? 4. What is your positioning strategy for your product? Why did you choose that particular strategy? 5. What is your product strategy? This strategy should actually comprise a host of sub-strategies such as: a. What product features will your language translator include? Why? (hint: think back to the ‘benefits’ in your ‘value proposition’) b. What brand name will you give to the product and why? c. What form will your product packaging take and why? 6. What is your price strategy? 7. What is your place strategy?
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