Please be sure to not copy any answers verbatim. original a

Please be sure to not copy any answers verbatim. original answers… Please be sure to not copy any answers verbatim. original answers needed will be scanned through the safe-assign system. please read in full the details and instructions below to understand  1.  please review the incomplete marketing plan document I have been working on below (for this assignment I have to produce a marketing plan for a product I would like to launch with the “honest” company. I chose to launch a new product which is breast milk due to the current baby formula shortage in the U.S.) please see below components that are needed.  section to be worked on will be section 2.0, -2.3 Marketing research (actual survey) 2. please create 5 questions for a survey directed to the population I am trying to reach to launch my new product “breast milk” 3. create a survey with these questions and provide the link so that I can distribute ———————————————————— Honest Marketing Plan Executive SummaryDonated breast milk for sale is a product I will launch. Given the recent shortage of baby formula in the United States, I believe this is the boost the Honest company requires to improve, sell, garner attention, and make life easier for mothers. Not only will I have the best milk available for purchase, but I will also ensure that I am able to compete with my present competitors by halving the price.1.0       Situation AnalysisHonest Company was founded in 2012 by actress Jessica Alba as well as entrepreneur Brian Lee. The company sells baby, beauty, as well as household products. The company has faced several lawsuits over the years alleging that its products are not as “natural” or “non-toxic” as advertised. However, The Honest Company has remained popular with consumers, due largely to its social media marketing efforts.The Honest Company’s marketing strategy should focus on continuing to build its brand identity as a trusted source of natural and safe products. The company should use social media and other available platforms to connect with parents and other consumers and should continue to create content that educates and informs its audience about the importance of using safe products. The Honest Company should also focus on expanding its product line to make sure to meet its needs of its customer base.2.0 Market Analysis            2.1.      Industry Analysis            The target demographic for this product includes anyone who has recently given birth or adopted a child within the last two years. This includes women who were expecting or adopting twins or triplets, as well as single mothers who opted for surrogacy or adoption after giving birth to one child. The majority of these women will be white (73%), with only about 2% being African American or Hispanic American. Most of them will be between the ages of 20-29 (44%), followed by those between 30-39 (31%).2.2       Consumer purchase behaviorThe market needs for this product include a safe, nutritious, and affordable breast milk substitute for infants and toddlers. The product must be easy to use and store, and it should be available in a variety of sizes.2.3       Marketing researchThere is a current trend of families choosing to raise their children in non-traditional ways, which is likely to increase the demand for my product. Additionally, the recent shortage of baby formula has created a need for alternative sources of nutrition for infants and toddlers. Donated breast milk is already available for purchase online and costs between $3.00 and $5.00 per ounce in the United States. This cost will be reduced to $2.50 per ounce of breast milk by me.2.4       Competition analysisMy product has a small but expanding market. Although the number of women giving birth each year is largely consistent, more families are choosing non-traditional child-rearing strategies, particularly in light of the current baby formula crisis.3.0 SWOT Analysis3.1       Strengths:The Honest Company has a strong brand identity and is trusted by many consumers.The company has a large and loyal customer base.The company’s products are sold by many major retailers.3.2       Weaknesses:The company has faced several lawsuits alleging that its products are not as “natural” or “non-toxic” as advertised.The company’s product line is limited compared to its competitors.3.3       Opportunities:The company can continue to build its brand identity as a trusted source of natural and safe products.The company can expand its product line to ensure it meets the needs of its growing customer base.3.4       Threats:company faces stiff competition from other companies selling natural and safe products.The company’s products may be perceived as being too expensive by some consumers.4.0       Strategic Marketing (STP)4.1       Segmentation, Target Market(s) Analysis & Positioning Statement4.2       Product/Service Value Propersition 5.0       Operational Marketing (4 Ps marketing mix)            5.1       Product Strategies and product/service features            5.2       Price Strategies and analysis of cost structure            5.3       Place Strategies and distribution options 5.4       Promotion Strategies and specific communication campaign(s)Promotion will be handled mainly through digital channels; that’s where we have our greatest reach and most opportunities to engage directly with consumers and educate them about our brand and its mission. We’ll also use traditional advertising channels like Facebook and Instagram to promote our campaigns, but those are supplemental rather than core components of our outreach strategy. 6.0       Marketing Financials              6.1       Break-Even Analysis            6.2       Sales Forecast            6.3       Marketing Expenses Forecast            6.4       Marketing Margin (Marketing Contribution)   Arts & Humanities Communications Marketing MBA MG 660

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