Imagine you work for a company that produces software, and the Research and Development department has a developed a way of getting information from consumers about their buying habits and producing an ‘unmet needs list’ that accurately anticipates future purchases. The information, however, comes from the customers’ use of credit cards and bank cards, raising some privacy concerns. Nonetheless, with only a few months of data, this new software can predict with some 95 percent accuracy what product a consumer will likely buy (or need to buy) in the next 30 days. Senior management is cautiously optimistic about the product and has asked you to develop a marketing plan.
Your task is to write a comprehensive marketing plan that identifies your market, establishes a price point, chooses a distribution channel, proposes a communication (advertising) venue, and identifies who will be the buyer of the product. Your plan should be fully documented and supported by research. It should be prepared for your senior management team.
