Conceive a new product or service to be introduced in a new market
Research and select an appropriate market for product
describe your target market and consumer profiles, e.g. demographic or psychographic factors
develop and define product/service characteristics
develop and define pricing strategies and policy
develop and define the required distribution channels/methods
develop and define promotional strategy and methods
establish a marketing mix
explain how the marketing mix will align with organisational goals and objectives
develop cost assumptions and a brief budget for marketing expenditures
develop and define market/product evaluation policy, including customer feedback
present your marketing mix and obtain audience feedback
adjust and finalise your marketing mix