YOUR MARKETING PLAN 2 Develop a branding strategy for your product that covers the brand name, logo, slogan, and at least one (1) brand extension. The branding strategy for my company Corset for You is to build the brand using today’s most efficient resource, social media. The internet is how the company started and we plan to use the same outlet to grow the business and expand. We will create literature such as brochures and marketing materials that describe the benefits, and services of using the corset not only to create a better body cosmetically but to build a healthier body. Corset for You will have a full blown marketing strategy to reach the targeted market and beyond. We will use internet marketing by way of social media, which is also cost effective to keep our existing clients up to date with what’s going on, what’s new, etc. This is also a way to reach new clients. Corsets for You will take advantage of all resources to make sure our branding strategy is successful. Our logo will continuously be displayed on the website, social media pages, the store, and on all flyers, brochures, etc. In some cases we will increase the recognition of our logo by using it without the name. This will help people begin to know the logo, and be able to put it with the name “Corset for You”. Simplicity is the best policy. Our slogan: Corset for You, has the right corset for you! Marketing Management states brand extensions “are a strategic use of a brand’s equity in which the marketer leverages the brand’s good name to get customers to buy something new.” Corset for You will utilize brand extensions. Brand extensions are “intended to broaden the number and types of products a company makes available on the market”. [ CITATION Daw13 \l 1033 ]
MARKETING PLAN, PART B 2 Executive Summary (revised) Started in 2013 by two application developers in their home office, the Toggle Boggle Company was built upon an idea. The idea pertains to the compatibility of multiple display devices, almost all of them with some level of computing power that run proprietary applications like Netflix, Hulu, Pandora, Facetime, and Skype. These application developers realized that a growing demand was building to achieve compatibility between a smartphone, a tablet and a television. Why can’t I browse the web from my phone and display on my television? Why is it not possible to make a Facetime video call on the iPad and view it on a larger screen? Why can’t I watch my television programming on my tablet? The answers to these questions led to the invention of the Toggle Boggle©. This small plug-and-play device now makes cross-device compatibility seamless for any technology consumer. As the current leader in the cross-technology device compatibility market, the Toggle Boggle Company grew from a single prototype and a limited production run that tested consumer reactions and the perceived value of their product. With an initial goal to capture 6 percent of global “connected TV users” in the first year met, meeting a low price-point preferred by early adopters, the product has generated a buzz in the technology market, obtaining first year revenues of $4 million. The simultaneous IPO and investment response has allowed the Toggle Boggle Company to meet demand and they now operate one major manufacturing plant that is collocated with their corporate headquarters in Raleigh, North Carolina with a total of 220 employees. As a result, the company has effectively controlled costs, local suppliers and production, allowing them to proudly proclaim “made in the U.S.A” and “eco-friendly”: points that no other technology company can claim together.