Question: Marketing Strategy -
Marketing Research - Before we start offering this product worldwide, we need to make sure the holographic instructor has an anti-virus system in each model. Our team will have to find out the cost of annual updates involving new software and updating the firewall protection system. Also, we will research courses that students struggle the most in and program the Holographic Instructor 3.0 to have expert knowledge in those specific courses.
Product Strategy - Our group intended audience is specifically for colleges/universities. Also, The Holographic Instructor 3.0 is predicted to ready for distribution by March 2020. Prototypes for the Holographic Instructor 3.0 are being tested in certain Historically Black Universities. For example, prototypes are being tested in Bowie State University, Hampton University, and Howard University. Our group is conducting surveys or feedback questions about the holographic instructor from students and universities.
Price Strategy - The holographic instructor will be priced at $3,000 and will be offered to every university across the world. It will cost $3,000 per year for each holographic instructor.
Marketing Promotion Strategy - We will have representatives from our company (Money Team) visit various universities to propose and advertise the Holographic Instructor 3.0 to the president and the dean of the universities. We will hold nationwide conferences and previews for the Holographic Instructor 3.0 so potential buyers can get an idea of how the product works.
Distribution Strategy - We will distribute the holographic instructor 3.0 to every university that is willing to pay $3,000 per year. Also, universities will have the option to pay $1,500 per semester. If there is any malfunctions or shortages in the holographic instructor, the school would be able to get a full refund. Insurance is recommended when purchasing the Holographic Instructor 3.0
Budget -
Conclusion -
Information related to above question is enclosed below:
Attachment:- MarketingPlanProject.rar