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Essay / Research Paper Abstract
This 8 page paper outlines a marketing plan for selling men's novelty jumpers. The paper identifies the target market, develops a strategy using the 7 P's of product, price, placement, promotion, people, process and physical evidence. The paper then considers how this may be developed for future marketing and issues of positioning. The bibliography cites 20 sources.
Page Count:
8 pages (~225 words per page)
File: TS14_TEnewmen1.rtf
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Unformatted sample text from the term paper:
relatives who are buying Christmas presents in the eight weeks running up to Christmas. The 7 Ps are used identify the way a strategy may be developed to sell the
goods, using a diverse range of retailers and focusing on point of sale materials in order to gain impulse purchases. The strategy is also identified as having the potential
to be expanded with slight alterations for other events and seasonal occasions 1. Existing Marketing Strategy Analysis. For the marketing of an item to be successful the first stage
of developing a marketing strategy has to be the identify the target market. The product we are selling is a novelty product with a limited shelf life. The idea is
for this to be attractive as a Christmas gift, and as a large level of knitwear for men is purchased by women this is where we need to look (Singh
and Hobbs, 2002). The target market will be women, mainly family members, who are buying gifts for men in the mid twenties to mid forties. This will be mostly impulse
purchases. In looking for a generic strategy there are two strategies outline by Porter (1980, 1985), cost advantage, where the manufacturer is able to produce goods at a much lower
cost than the competitors, which does not mean they have a lower price, but have a higher profit margin. Only a single company can have this advantage in any sector
(Grant, 1998). Alternatively there is the strategy of differentiation, making the product different, which may be in terms of features or even in terms of brand perception, giving it
a value that can command a premium price, at a cost lower than the premium it commands (Mintzberg et al, 1998). As this is a short term product, according to
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