You have been asked by your cousin to help launch a new product inspired by Warm Delights. You have been asked to consult on developing a marketing plan for this new product. They are specifically looking to grow this brand in terms of product line and brand extensions.In your suggestions, specify:
The target market you would pursue with your plan.
The potential opportunities and hindrances of the target market.
How you would position or re-position this product against Warm Delights in that market place.
The product changes you would recommend to compete against Warm Delights.
Explanation & Answer
Running head: WARM DELIGHTS
Name of Student
Name of Institution
For every company to be successful, it needs to come up with a marketing plan especially
if it is launching a new product. Therefore, in this paper, a new product inspired by Warm
Delights is being launched. This paper will identify the target market for the product, potential
opportunities, and hindrances of the target market, how the product will be positioned or
repositioned against Warm Delights. It will conclude by highlighting the product changes that
are necessary to compete against Warm Delights.
The target market you would pursue your plan.
When deciding the target market, many factors have to be considered. One is the
demography, and in this case, it will look at the gender. Therefore, this product will target
women mostly. This is because they are the one who tends to shop a lot. On top of that, they are
the ones who spend most of their time in the kitchen. When shopping they take their time by
looking at the ingredients of the product. For this reason, the products will be unique since extra
healthy ingredients will be added as compared to those of Warm Delights. This product will be
made more attractive to the target market by increasing the life span. It is essential for our
consumers to have an assurance that they can store the product without worrying. The product
will be availed at all times in all supermarkets and shopping areas. In addition, the prices will be
lower than t...