Final Business Model and Strategic Plan - Essay Example

The new product division will analyze the potential market for their products. They will use the available budget to conduct research that will provide insights about the competition in the markets and what the competitors are doing to win customers. In addition, the new product division will use the information received to build a strong company brand presence. Moreover the brand owners who include the brand manager and marketing manager will gather information about the prospective customers.

They will conduct online surveys as well as group and personal interviews to find out about customers views and preferences, goals economic and financial status. Moreover, they will liaise with the IT department to come up with a website that will be sued to market the new product. The website will inform customers on the benefits of the product, the places where to purchase the product as well as the prices and discounts that will be provided for the product. In addition, clients can post their comments, recommendations as well as the challenges they have faced while using the product.

Moreover some of the marketing promotions that will be used will include above the line and below the promotion. This includes the posters, newsletters, billboards, coverage on radio and television. The new product division will mostly use above the line advertisement for the purpose of reaching a massive group of people. The new product division will have an effective communication plan that will ensure effective communication both internally and externally. The new product division plans to have access to the agenda of the critical meetings by involving the senior executives to deliver on the presentations in regards to the new product division to get insights and feedback from them.

The new product division also plans to have proper management by planning campaigns and tracking results and success. This will include monitoring performance of the new product