Identify a brand that recently launched a new product (this can be the same brand used in Topic 3). Using the resources provided in the class and topic resources, provide a 750-word-analysis addressing the following items:
Provide an example of the five elements of the promotional mix the brand uses to communicate with the target market and explain why these are important to the overall marketing strategy.
Describe how the brand uses an IMC strategy and identify areas for improvement.
How does incorporating artificial intelligence (AI) help leverage digital marketing to enhance the brand to better understand consumer needs to drive organizational growth?
What pricing objective and strategy has the brand put in place? Explain how these fit into the overall marketing plan. Does the brand use any pricing tactics?
Explain how you would estimate demand and supply and outline a simple method for forecasting revenue (e.g., break-even analysis, competitive data, market testing).
Outline the distribution strategy for delivering the product or service to the target market. Describe the potential challenges the brand may face with the current distribution strategy – such as channel conflict, coverage gaps, etc. How would you recommend the brand address these challenges?
