Essay: Marketing Plan Relaunch

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Marketing Plan Reluanch

Re-launch Plan for the RSP-150 Solar Power Maintainer

Re-launch Plan Goals and Milestones

Implicit in the re-launch of any existing product or service is the need to more closely define its unique value proposition (UVP), competitive and market position, and first re-assess and then strengthen its core messaging strategies. The essence of any successful product re-launch is galvanizing each of these attributes around a common strategic market plan that is centered on the customers' unmet needs, preferences and wants (Easingwood, Harrington, 2002). The orchestration of how these activities are completed defines the extent of differentiation relative to alternative solutions and competing brands (Woods, 1984). The RSP-150 Solar Power Maintainer has many innate differentiators that capitalize on the prevailing mind-set of consumers to conserve electricity and only spend on "green" or sustainable products that make full use of recycled energy. This aspect of social responsibility could be effectively used for example with campers and holiday travellers who care deeply about the environment and conservation for example. To date the RSP-150 Solar Power Maintainer has been sold for its utilitarian value, yet it needs to be also sold on branding-based values as well. These include more focus on trust in the product as a means to make it through an emergency, and also the manufacturer being a trusted advisor for the development of products that won't fail when they are needed most. These are the foundational elements of any successful branding strategy and they must be present in any re-launch of the RSP-150 Solar Power Maintainer if it is to succeed. In addition to all of these aspects of the re-launch there must also be real-time analytics to measure overall progress to marketing plan, program strategy and initiative projects over time and to ascertain progress during the re-launch.

Re-launch Goals

The most critical success factor of any new product re-launch or re-introduction are the strategies and initiatives designed to win the trust and confidence of indirect and direct sales teams. When a product fails to launch successfully on an initial pass it is often linked to a lack of synchronized planning and execution across marketing promotions, aligned product strategies and coordinated direct and indirect selling strategies (Easingwood, Harrington, 2002).

The first goal of the re-launch is to clarify and solidify the brand messaging around sustainability and eco-friendly operation, in conjunction with ruggedized construction and reliability of the RSP-150 Solar Power Maintainer even in severe weather conditions. At the foundation of all successful branding strategies is the evoking of emotions and the creation and sustaining of trust with prospective customers (Sommers, Nemec, Harris, 1987). This goal will serve as the foundation of all others.

Second, brand and product awareness need to be increased by 40% in target segments, as is mentioned in the launch plan. To accomplish this, there needs to be more precise definition of just how the segments are. Getting beyond demographic data to the activities and interests of the potential customers is critical for the re-launch to succeed.

Defining a precise market persona is crucial for a re-launch to succeed as it focuses the overall strategy to a common objective or goal (Hauser, 2007).

The third re-launch goal is to build a foundation of trust through marketing and promotion with key customers using videos and customer testimonials. The voice of the customers are critically important for keeping re-launch marketing, promotion and sales activities on a focused, linear path to goal attainment (Sunoo, Lin, 1978). This can only happen when there is a very clear definition of who the customer is and what they value. Personas are critical for attaining this objective.

Fourth, the goal of increasing sales by 20% leading to a 25% market share increase will only happen if the first three objectives are accomplished. Sales results this significant only occur when there is a well-orchestrated strategy of performance attainment and measurement. The use of dashboards for example in managing all sales channels has continually proven to be successful (Hauser, 2007) There is also the need for using advanced marketing analytics to track performance over time (Germann, Lilien, Rangaswamy, 2013).

Milestones

Complete Branding re-Launch

The re-launch needs to center on what matters most to prospective customers, and that is reliability and trust in the RSP-150 Solar Power Maintainer in addition to giving them an opportunity to… [END OF PREVIEW]

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Marketing Plan Relaunch.  (2013, May 11).  Retrieved March 26, 2019, from https://www.essaytown.com/subjects/paper/marketing-plan-relaunch/7157911

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"Marketing Plan Relaunch."  Essaytown.com.  May 11, 2013.  Accessed March 26, 2019.
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