Develop a marketing plan for a new innovative product that youwill launch or use an already existing innovativeproduct or service of your liking. You are launching the productfor the first time and want to introduce it to the marketing world.The market plan of your chosen product should cover the followingobjectives: 1: What different segmentation variables will you try, to findthe best way to view your market structure and fit your product?(Geographical segmentation, Demographic segmentation, Psychographicsegmentation, Behavioral segmentation, occasion and benefitsegmentation – use a combination of these segmentation to explainyour answer- give segmentation profit of at least 3 segments) 2: After segmentation, you must decide which and how manysegments will you target by choosing a suitable targetingstrategy. 3: After deciding which segments of the market it will target,you must decide how you will differentiate and position yourproduct by using positioning strategy and developing a positioningstatement. Also make a positioning map. 4: In this step, explain about your product, how will you priceyour product, where will you place it and how will you promote itamongst customers. (Four P’s of marketing) 5: Give a financial analysis of your product. Attached
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