New product line of sports equipment

Boom Boom Sports Inc. – Marketing Plan You own a marketing firm that specializes in developing marketing plans for a variety of products. You’ve been hired by Boom Boom Sports to develop a marketing plan for a new product. Boom Boom Sports is based in Boston, MA. Historically, Boom Boom has manufactured sports equipment in Western Mass. and sold sports equipment to various retailers in Massachusetts such as Decathlon, Olympia Sports, and The Sports Authority. You are required to develop a marketing plan to present to Boom Boom Sports Inc to capture their business. Your submission includes both a paper and a presentation. I’ve broken down the marketing plan into a series of tasks. There may be some overlap – so it’ll be up to you as to how you want to present your findings. The paper should address: Your plan should address the business’ Target Market and the 4Ps. (Place, Product, Promotion, & Price) Your plan should include some element of Market Research – whether it is primary or secondary. You should explain what data was collected, how it was collected, its analysis and any conclusions/recommendations based on it. Your plan should consist of specific marketing recommendations based on your plan that address Target Market, 4Ps, and Market Research. Your paper should be about 4-6 pages typed, 12-point font and double spaced. Next, you will present your marketing plan to the CEO of Boom Boom – Mrs. Felmet. You will be evaluated on the quality and comprehensiveness of your marketing plan and your interesting sales presentation. Using the framework below, you need to create a presentation (Using PowerPoint or Ecampus) that covers all aspects mentioned: Framework for Presentation Choose the name of your product as it relates to Boom Boom Sports. Be creative. Develop a slogan or tagline for the product Identify your target market. Consider the following: Demographics (age, gender, income, occupation) Psychographics (lifestyles, leisure time) Geographics (town, county, state, region, country, etc.) Consumer behaviors Explain your product strategies and decisions Packaging, product benefits, special features that will set this product apart from its competitors, etc. Explain your placement strategies and decisions Boom Boom has historically been the manufacturer and wholesaler (distributor). What is going to be the distribution strategy to get this new product into the hands of consumers? (think about practicality, efficiency, and cost when considering the best distribution strategy). Explain your price strategies and decisions Demand-based, cost-based, competition-based, combination, etc. psychological pricing strategies Explain your promotion strategies and decisions What’s your message and how will you communicate it? How and in what format will you reach your customer? Print, broadcast, special events or sales promotions, etc. Describe any advertisements Remember, the more defined your target market, the easier it will be to figure out how to reach them. All marketing decisions should be made with the target market in mind as well as profitability. Your presentation should be no more than 15 slides but a minimum of 10 slides. You will need to record yourself presenting (including audio and video) inserted into the presentation.