Assignment:
Purpose
Marketing plans help coordinate an organization's departments and activities toward a mutual benefit between the organization and the consumer. Well thought out marketing plans contain both internal and external research aimed at understanding who the customer is, what they want, and any barriers the company may encounter in meeting customer demands. This research and information allows the company to create strong strategies and realistic goals. Part 1 of this two-part learning team assignment is designed to place students in the role of a company marketing team demonstrating to the CEO and Stakeholders why and how their new product/service should be launched. This assignment assesses the company, the target market and product, and identifies potential obstacles a company may face when deciding to launch a new offering will be identified.
Steps
Scenario: Your team has been chosen by the CEO to lead the development of key marketing strategies for the marketing plan for your company's launch of a new and unique product/service (not already offered). Your marketing team's mission is to prove to the board of directors and investors through research, strategy development, and reasoning, that this product/service is viable and will meet the company's goals. In this first half of the project, you will be reporting to the board and CEO about the target, the product's strengths, a
SWOTT (Strengths, Weaknesses, Opportunities, Threats and Trends) analysis, and the brand's position in the competitive environment.
Create a company name (Tri Holmes, LLC) and decide what real business world industry it operates in.
Create a new and unique (page 2) (not already offered) product or service the company will be launching.
Obtain your instructor's approval for the team's product or service before beginning this project by having one team member private message the instructor what the team has decided on.
Create a minimum of 500-word report covering the following:
• Identify your target market and what segmentation criteria you use to identify it.
• Prepare a SWOTT analysis.
You must Cite a minimum of three peer-reviewed sources. One must come from the course textbook or videos and one from the University Library.
Format your paper consistent with APA guidelines.
Here is what the team has come up with. Just included this portion so you can tie in the highlighted portion.
The mission of Tri Holmes, LLC's marketing team is to prove to the board of directors and investors throughout research, strategy development, and reasoning, that its evaluation and treatment using medical grade THC and CBD products is viable and will meet the company's objectives. In the document, the board and Chief Executive Officer will be reporting by the team regarding the target, the service's strengths, a SWOTT (Strengths, Weaknesses, Opportunities, Threats and Trends) analysis, and the brand's position in the competitive environment.
Tri Holmes, LLC
Tri Holmes, LLC company is marketing the health and good for the sick and elderly. Tri Holmes company is regarding in the field of health care for well-being of the treatments for using medicinal grade THC (tetrahydrocannabinol) and CBD (cannabinol) products, medications, and edibles. Tri Holmes's mission is to help the sick and aged feel comfortable and in less pain without expensive, the company trying to treatment without any heavy cost. This is also object of Tri Holmes to provide the best care as well as nurturing for the sick and elderly; such as they are trying to help them when there is bad time. This company is specializing for the purpose of help to illnesses or the elderly to deliver them comfort, and in other companies maybe there is not care like in this company, the doctors, nurses, etc., there is special training for them to provide best care of the patients. In this company, they are wanted to be sure and they understand what they are getting and doctors, nurses, etc. will guide them and answer any query with no hurry. Make them feel happy and know that doctors, nurses, etc to support them.
Target Market, SWOTT Analysis, and competitors
In spite of the fact that development in medically prescribed treatment has expanded fundamentally, there exists much future development in wording of product advancement and refinement to meet patient necessities. Per MarketNewsUpdates.com, "As the cannabinoid-based products and treatment showcase proceeds to quickly grow, cannabis and lawful pot trailblazers are poursing more supports into CBD-based research and product advancement. The current cannabinoid showcase keeps on introducing income boosting openings, shoppers keep on demanding higher quality CBD-based products" (2017). Tri-Holmes has gotten a checked staff of 12 expert, portable, and experienced medical cannabis and CBD guardians. Notwithstanding estimation of its specialist organizations, Tri-Holmes will get to best in class facilities, products, and rich business structure which will incorporates online administrations. Ultimately, and in particular, Tri-Holmes as of now has built up associations with leading product trend-setters to guarantee market leading product delivery and the latest research and development.
Conclusion
Tri Holmes, LLC works in the medical services ground for evaluation of the medications for utilizing restorative review THC (tetrahydrocannabinol) and CBD (cannabinol) Products, pharmaceuticals, and edibles. The target showcase for these products and administrations are the debilitated and elderly and the individuals who have a requirement for torment decrease. One of the greatest worries for Tri Holmes' organization is to guarantee we are agreeable with state controls, as there are as of now no government directions set up for the utilization of THC and CBD. Three biggest competitors of Tri Holmes are medical Marijuana, Inc., New Mexico Top Organics, and the Verdes Foundation. Through effective marketing techniques, we can become the leading organization for health grade THC and CBD Products and services.