MKTG 201 American Public University Week 4 New Product Coco Buns Marketing Paper


Business Finance

MKTG 201

American Public University System


Question Description

you will create a new product and provide how you would market your product. You will need to provide information on how your product is superior to your competitions product.

1) Define and explain each of the following tools/concepts below.

  • The strategic planning process
  • S.W.O.T
  • Market Segmenting
  • Target Marketing
  • Product Positioning
  • Offerings: —product, price, and service.

2) Use two or more of the concepts from part 1 in your product assessment.

3) Analyze security, privacy, ethical, and legal issues related to the digital information world and marketing

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Explanation & Answer

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Marketing A New Product-Coco Buns
Student’s Name
Institutional Affiliation




Marketing A New Product-Coco Buns
Pastries rank top among the most consumed products, due to their diversity, meaning
they can be consumed any time regardless of the meal and occasion. Compelled by the desire
to create a product that would appeal to numerous clients both vegetarians and nonvegetarians, I settled for the creation of coco tossed and flavored buns. Ideally, the process of
baking the buns involved the incorporation of coco, giving the buns a chocolate flavor that is
complemented by a dark brown appearance. Interestingly, the bun dough will be kneaded and
baked similarly to the process of preparing a cake, thus offering a rich and caky taste that will
melt in the customer's mouth. When marketing my product, there are several channels that I
will use with the first being advertisement. Through the reliance of televisions and food
magazines, I will market my coco-buns to a wider niche of viewers, an aspect that Priem et
al., (2018) asserts will play a vital role in creating awareness and converting prospective
customers into loyal ones. To optimize the conversion process, there is an imperative need to
develop a sales plan that will aid me in the identification of a proposed target market. In
addition to this, the document will also identify sales strategy to be used. With the Coco-buns
being a new product in the market, it is depicted that the product will attract a huge demand,
one that could not be rivaled with the existing and basic buns existing in the market.
Tools definition and explanation
The strategic planning process- basically, the undertaking is often defined by an
assessment of the external and internal situations, an aspect that is projected to assist in the
formulation and implementation of a particular strategy while constantly reviewing the
progress in a bid to ensure that necessary adjustments are made for the strategies to be
achieved (Fisc...

Qe_QnivqAbjryy (6999)
Boston College

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