Homework: Marketing Plan
Team A: Virtual reality (V/R) suit with helmet that acts like a super karaoke machine that triggers all five of your senses so that you can experience any recorded concert in history.
Your team is a consulting firm that was hired by Phoenix Industries to create a marketing plan. Phoenix Industries is a very successful Asian company that has no American marketing experience. Their last year's annual sales were $500 million. They want to be very careful before entering a new market, which is why they hired the best - your team. During the first meeting, the Chairman of the Board, Dr. Eugene Kaufman, will tell you what product line they wish to market in the USA.
1) They have reserved $2 million for a 4-month advertising campaign in the US. They do not know how to spend it properly. They need your suggestions.
2) The Marketing plan must be exhaustively inclusive, but at the same time the chairman does not have time to read more than 25 pages. The chairman is also very picky about facts. He wants to make sure that your opinions are merited on facts, not hearsay. So cite your sources properly.
a. Your firm's senior consultant recommends that you discuss the topics stated below. You are not obligated or constrained by this recommendation. You may add or delete any materials to the plan that your team sees relevant to the company and its goals.
o Product description
o Product positioning
o Target market description
o Market penetration strategy
o Market potential and market growth
b. IMPORTANT: Remember, your project must be relevant to the plans of Phoenix Industries. Do not go off on a tangent. Do not include irrelevant information. The easier the plan is to read and understand the better. Use of diagrams, printed visual aids, or anything else that would improve the understanding of your plan is highly recommended. Be careful not to create inadvertent distractions. APA rules do not apply with the exception of citations and references. You are limited only by your imagination.
3) Remember, your plan will be read by high-ranking officials that will decide whether to give your company the consulting retainer worth $1,000,000. It is important that it looked presentable and professional.
4) You should have an Executive Summary that in 1 page or less gives a general overview of what to expect in the plan. Consider it a reminder for the Chairman of what you are writing about. Table of contents and APA-formatted bibliography would also be very helpful to your cause. None of these three sections will be counted towards the 25-page maximum.
Format your homework according to the give formatting requirements:
• The answer must be using Times New Roman font (size 12), double spaced, typed, with one-inch margins on all sides.
• The response also includes a cover page containing the student's name, the title of the homework, the course title, and the date. The cover page is not included in the required page length.
• Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.