{"id":12306,"date":"2023-04-05T21:16:58","date_gmt":"2023-04-05T21:16:58","guid":{"rendered":"https:\/\/www.goodacademic.com\/blog\/questions\/put-yourself-in-the-shoes-of-vp-for-marketing-and-develop-a-market-plan-for-the-next-step-for-nitro-snowboards\/"},"modified":"2023-04-05T21:16:58","modified_gmt":"2023-04-05T21:16:58","slug":"put-yourself-in-the-shoes-of-vp-for-marketing-and-develop-a-market-plan-for-the-next-step-for-nitro-snowboards","status":"publish","type":"questions","link":"https:\/\/www.goodacademic.com\/blog\/questions\/put-yourself-in-the-shoes-of-vp-for-marketing-and-develop-a-market-plan-for-the-next-step-for-nitro-snowboards\/","title":{"rendered":"Put yourself in the shoes of VP for Marketing and develop a market plan for the next step for Nitro Snowboards."},"content":{"rendered":"

Overview: Nitro has been designing, building, and distributing snowboards for almost 30 years. Recently<\/p>\n

through extensive R&D, our engineers have designed a new board that will revolutionize backcountry\n<\/div>\n
boarding for years to come. As the VP, you need to analyze and understand how to best market the\n<\/div>\n
company\u2019s new innovation and craft a Marketing Plan. As you craft your plan, consider the iconic status of\n<\/div>\n
existing snowboards, and the lack of any recent radical innovations in the category, which pose major\n<\/div>\n
challenges in securing consumer adoption. If the company continues along the same distribution channels\n<\/div>\n
as its other board lines, Nitro potentially lacks the market penetration and sales that are forecasted for\n<\/div>\n
this new innovation. You will need to consider a cohesive and innovative plan for all 4 Ps of this product\n<\/div>\n
launch.\n<\/div>\n
Based on this information, create a go-to-market strategy addressing the following:<\/div>\n
<\/div>\n
Marketing Objectives – These could include marketing objectives such as market share,\n<\/div>\n
customer satisfaction, loyalty, etc.\n<\/div>\n
Target Market (examples: professional players, hobbyists, etc) – Who have you identified as the\n<\/div>\n
most appropriate segment (target) for this product\/service? Create a profile, define a typical\n<\/div>\n
target consumer, and describe them in specific detail. Why have you chosen this target market over\n<\/div>\n
others?\n<\/div>\n
Product\/Service Strategies – Define your service\/product features and benefits and performance\n<\/div>\n
characteristics versus competitive products. How does the product\/service fulfill the value\n<\/div>\n
proposition? What product\/service changes do you recommend? What attributes do you want to\n<\/div>\n
add\/delete to your product\/service? What do you recommend in terms of changes to package\n<\/div>\n
design, logos, and\/or brand identity? This may include the service promise, including any customer\n<\/div>\n
service and warranty information.\n<\/div>\n
Pricing Strategy – Outline your pricing objectives and explain how they relate to your marketing\n<\/div>\n
objectives. Present a list price for your product that retailers will pay you. Discuss payment\n<\/div>\n
terms\/options including any discounts and allowances you will give to your retailer customers.\n<\/div>\n
Discuss how you will balance pricing issues amongst different channels. Provide a rationale for your\n<\/div>\n
choices.\n<\/div>\n
Place Strategy -Define your distribution strategy. In which retail channels do you want to sell your\n<\/div>\n
product? Why? Provide a rationale for your choices. Define your selling approach. What selling\n<\/div>\n
message will you use to persuade your retail partners to carry the product?\n<\/div>\n
Promotion Strategy – Discuss if\/how\/why you will use the following promotion tactics: advertising\n<\/div>\n
(TV, print, radio, outdoor, Internet), consumer sales promotions (displays, price promotions, gift with\n<\/div>\n
purchase, sweepstakes\/contests), event marketing\/sponsorships, public relations, trade show, and\n<\/div>\n
conference participation, direct marketing (mail, telephone, email), Internet marketing, and Web 2.0\n<\/div>\n
social media programs and other forms of communication. How will the customer receive\n<\/div>\n
information about the product? Be specific about what role each medium will play in the strategy\n<\/div>\n
and fulfill the overall marketing objectives. What is the recommended timing and frequency of the\n<\/div>\n
marketing communications plan?<\/div>\n
Action Plan – discuss timing, and decide who should be responsible for the various aspects of\n<\/div>\n
implementation, and indicate the resources necessary to implement the marketing plan.<\/div>\n
<\/div>\n
Use 2 of these sources and let the other three be from academic resources. <\/div>\n
https:\/\/hbr.org\/1981\/05\/marketing-intangible-products-and-product-intangibles<\/div>\n
https:\/\/www.liveabout.com\/what-is-a-marketing-mix-2295520<\/div>\n
https:\/\/www.mindtools.com\/akksnwa\/themarketingmixandthe4ps<\/div>\n","protected":false},"excerpt":{"rendered":"

Overview: Nitro has been designing, building, and distributing snowboards for almost 30 years. Recently through extensive R&D, our engineers have designed a new board that will revolutionize backcountry boarding for years to come. As the VP, you need to analyze and understand how to best market the company\u2019s new innovation and craft a Marketing Plan. […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","meta":[],"disciplines":[650],"paper_types":[],"tagged":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/questions\/12306"}],"collection":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/questions"}],"about":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/types\/questions"}],"author":[{"embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/comments?post=12306"}],"version-history":[{"count":0,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/questions\/12306\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/media?parent=12306"}],"wp:term":[{"taxonomy":"disciplines","embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/disciplines?post=12306"},{"taxonomy":"paper_types","embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/paper_types?post=12306"},{"taxonomy":"tagged","embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/tagged?post=12306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}