MKT 421 Week 4 Team Assignment - Marketing Plan Phase III

MKT 421 Week 4 Team Assignment - Marketing Plan Phase III -...

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Marketing Plan: Phase III 1 Running head: MARKETING PLAN: PHASE III **Please see comments at the end of your paper** Marketing Plan: Phase III University of Phoenix MKT/421 - Marketing Shannon Peterson February 1, 2010
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Marketing Plan: Phase III 2
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Marketing Plan: Phase III 3 Abstract Pet Palace has a product about to be introduced into the market. The product is named Allergy Be-Gone. This product has the potential to improve the health of individuals who have allergies to pets. Allergy Be-Gone can also make it possible for individuals who never thought they could own pets because of allergies, have new options. Even though the product formulation is a first of its kind in the industry, and has already proven to be a popular product in the testing stages, a strategic marketing plan will be the key to the success of Allergy Be-Gone.
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Marketing Plan: Phase III 4 Marketing Plan: Phase III Allergy Be-Gone Attributes As Pet Palace continues the marketing plan for its new product Allergy Be-Gone, some additional factors need to be considered. Identifying the attributes of the product is very important. The life cycle of a product should be reviewed and understood. Positioning and differentiation strategies should be factored into the marketing plan. Finally, the pricing strategy for Allergy Be-Gone must be determined. The attributes of Pet Palace’s Allergy Be-Gone will aid in determining the qualities that set the product apart and what should be advertised in the marketing strategy. Allergy Be-Gone is a product designed to create customer satisfaction and provide pet owners a way to neutralize the allergens that pets bring. Allergy Be-Gone is a liquid pump spray that can be applied directly to the coats of pets. Allergy Be-Gone also can be directly applied to the areas that pets frequent like pet beds, furniture, rugs, and carpets. Allergy Be-Gone is made of all-natural ingredients, safe for pets, people, and the environment. As Allergy Be-Gone does not contain harmful chemicals or alcohol it will not dry of irritate pets skin or coats. Allergy Be- Gone has a naturally clean fresh scent and is safe for use on pets several times per week. Pet Palace’s Allergy Be-Gone provides both pet owners and non-owners to be around animals and enjoy the companionship without the irritation. Product Life Cycle The product life cycle is a series of stages all new products go through as they enter the market. The strategies involved in the market mix can help determine how long Allergy Be-Gone will end up in each stage as price, product, promotion, and placement are all factors in the product life cycle.
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Marketing Plan: Phase III 5 The first stage of the product life cycle is the market introduction stage. Generally during this stage, the product is to new to produce high sales. Allergy Be-Gone will have to rely heavily on promotions and other marketing strategies to help spread the word out about their product. Because
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This note was uploaded on 07/22/2011 for the course MKT 421 taught by Professor Unknown during the Spring '08 term at University of Phoenix.

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MKT 421 Week 4 Team Assignment - Marketing Plan Phase III -...

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