Develop a marketing plan for the successful development, commercialization and introduction of any product of your choice in the market pla**. You are required to: (1) analyze the general business situation in detail, including organizational strengths and weaknesses, environmental opportunities and threats, industry trends, and direct and indirect competition. Based upon your situation analysis, you will (2) develop an organizational mission and forecast performance goals. Based upon your objectives, you will (3) create a marketing strategy. Based upon your strategy, you will (a) segment and target potential customers. Based upon your customer targets, you will (b) choose an appropriate and integrated marketing mix, including: products and services, pricing, promotion and advertising, distribution and location, and other elements of the marketing program – the summary and specific recommendations for the execution of the plan.
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A successful marketing plan for any new business product in the market comprises the strategies plan for bringing the product to the market and its promotional activities to pull the customer attraction of the customer towards the new product. Whenever there is a launch of new product in the market, it’s the customers who are the key factors to increase the identification of the product by showing their interest towards the product. At