Marketing Plan Example (With Product Launch)

Here’s how to make a marketing plan with product launch for promoting a business.

Marketing is important for any business as it helps to reach out to the target segment and drive sales. A well thought of marketing plan enables a firm to spend its marketing budget effectively by having a strategic and coordinated marketing approach to achieve its objectives.

Most new start-ups spend significant efforts and budget on marketing to create awareness about the business and the products. Today, businesses have access to a wide range of communication channels using which it can share its marketing messages; a firm can choose communication channels based on its marketing budget and the objectives it is trying to achieve.

Product Launch for Clothing Line

In marketing, a product launch refers to the introduction of a new product in the market, and in this case it coincides with the official launch of the business itself. A product launch is designed to create interest and generate initial sales for the products that are launched.

For a clothing line, you may consider fashion shows, fashion events, and trade shows for launching our product. These events provide good opportunity to showcase our products, gain exposure, and also to connect with other small businesses/retailers for apparel sourcing.

Many colleges also organize college festivals that attract youngsters, which is usually the main target audience. These festivals are quite popular and would be a suitable event for product launch (for an apparel business).

You may launch your product at Malhar College Festival in Xaviers College, Mumbai. The college festival hosts several cultural events, contests and fashion shows and is attended by thousands of college students, making it a suitable venue for our product launch. We will sponsor these events and provide attire to the participants in these events.

Promotional activities for launching the product will begin prior to the event.

An influencer campaign on social media will be launched to create the right buzz before the launch. Website and app will me made ready before the event. Several promotional offers will be made available at the event and on our website, app and social media to celebrate the launch.

Marketing communication plan for the business

Marketing communication is about conveying marketing messages to the target audience using various communication channels.

The idea is to inform and persuade the target audience to take certain actions such as buying the product. A marketing communication plan or promotional plan is like a roadmap for a firm to ensure its marketing efforts are cohesive and aligned with what it’s trying to achieve.

Marketing communication will mainly be carried out using the online communication channels, although some amount of offline marketing will also be carried out. The company will make use of social media, influencer marketing, print advertising and events to promote the company and its products. Sending marketing messages often on various marketing channels improves branding of a firm and it also helps in better product recall.

Here’s a simplified marketing communication plan that outlines how the business will communicate its marketing messages to its intended audience.

• Events: Participate in College festivals, fashion trade fairs.
• Leverage visual platforms such as YouTube. Create videos on topics such as fashion tutorials, style guides.
• Social Media: Create content that are visually appealing
• Collaborate with influencers who have significant number of young followers.

Product Distribution

Distribution refers to the “Place” in the marketing mix and concerns with how the products will be made available to the consumers.

The products of this Start-up will be distributed to the consumers in the following ways:

• Direct Channel: The products will be sold directly to the end-users using the online medium. The Start-up will not invest in its own retail stores in the beginning but will instead sell the apparels online primarily through its website.
• E-commerce (Indirect channel): The Start-up will also make use of popular E-commerce portals such as Amazon to sell its products. This is an indirect channel as Amazon will act as an intermediary and the products will be sold through th third-party platform.

Product Pricing

Product Pricing refers to the ‘Price P’ of the Marketing mix. Businesses can choose from a range of pricing strategies depending on their business objectives.

The Start-up will adopt the Penetration pricing strategy in which the products will be priced lower than most of its competitors. This strategy will help the business to attract price-sensitive customers and gain acceptance in the market. The main objective of adopting this pricing strategy is to build a larger customer base and eventually gain a larger market share quickly.

The products will be priced from Rs. 299 to Rs. 700, which is lesser than most competitors; we will be making bulk purchases due to which the material cost per piece will be Rs.60 (projected sales revenue).

The Start-up will also use Discount pricing where the prices will be reduced during specific periods in order to stimulate sales and to take advantage of the customer’s positive purchase intention during periods such as major festivals. This Start-up will use discount pricing during major festivals such as Christmas, New Year, Diwali.