{"id":5135,"date":"2023-02-22T18:53:03","date_gmt":"2023-02-22T11:53:03","guid":{"rendered":"https:\/\/cleverads.com.ph\/blog\/?p=5135"},"modified":"2023-09-19T11:02:32","modified_gmt":"2023-09-19T04:02:32","slug":"what-is-a-marketing-plan-developing-a-marketing-plan-for-a-new-product","status":"publish","type":"post","link":"https:\/\/cleverads.com.ph\/blog\/what-is-a-marketing-plan-developing-a-marketing-plan-for-a-new-product\/","title":{"rendered":"What is a marketing plan? Developing a marketing plan for a new product"},"content":{"rendered":"<p><b><i>What is the perfect marketing idea for a new product?<\/i><\/b><i><span style=\"font-weight: 400;\">? Steps to make a <\/span><\/i><b><i>Marketing plan for a new product<\/i><\/b><i><span style=\"font-weight: 400;\"> What is that? Let&#8217;s find out with CleverAds in the following article!<\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400;\">Marketing plans play a particularly important role in businesses. A marketing plan helps businesses have a better overview of the current market situation. From there, discover your competitors, and find out your strengths to make important decisions for your business.<\/span><\/i><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-5137 alignright\" src=\"https:\/\/cleverads.com.ph\/blog\/wp-content\/uploads\/2023\/02\/Nhung-cau-hoi-giup-ban-xay-dung-Marketing-Plan-hieu-qua-1-300x163-1.jpeg\" alt=\"marketing plan\" width=\"300\" height=\"163\" \/><\/p>\n<p><i><span style=\"font-weight: 400;\">Especially, for a new product, which has never had a name in the market: how the product can make a mark in the minds of consumers is something that many businesses are interested in.<\/span><\/i><\/p>\n<h2><b>1. What is a marketing plan? Developing a marketing plan for a new product<\/b><\/h2>\n<p><a title=\"Marketing plan\" href=\"https:\/\/cleverads.com.ph\/blog\/marketing-trends\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Marketing plan<\/span><\/a><span style=\"font-weight: 400;\"> or product marketing plan, the English name is the marketing plan. This is understood as a map outlining the advertising strategy an organization\/business implements, to bring the product to the target market and potential customers.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Normally, <\/span><b>Developing marketing strategies for new products<\/b><span style=\"font-weight: 400;\"> include:<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Learn the market and competitors.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Identify your target audience and understand their psychology.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Build the message for the marketing plan.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Select a form of communication.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Set goals and sales.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Prepare a projected budget.<\/span><\/li>\n<\/ul>\n<h2><b>2. The importance of building a marketing plan for a new product<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The important thing when building a marketing plan in general and a marketing idea for a new product, in particular, is that you must have specific goals and a complete plan to achieve those goals.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For a new product, the first important thing you have to do is: do market research and define the customer persona. Then propose an appropriate strategy to reach that customer group. Many small businesses and individuals often run ads for their own campaigns. However, this option sometimes causes a waste of budget.<\/span><\/p>\n<h3><b>Currently, the option used by many businesses is to hire agency service packages.<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">With inherent experience in many fields, the Agency proposes and deploys the campaign with the most economical cost for businesses. The services that the Agency provides are diverse such as consulting on marketing strategies for new products, brand development, campaign management, TVC production, and many other fields.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition, there are many special benefits when choosing to hire agency advertising services. You can find<\/span><a title=\"Marketing Strategy: 8 steps to kick-start for your business\" href=\"https:\/\/cleverads.com.ph\/blog\/marketing-strategy-8-steps-to-kick-start-for-your-business\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\"> strategic consulting services here<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h2><b>3. Steps to develop a marketing strategy for a new product<\/b><\/h2>\n<h3><b>3.1. Know the product<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Let&#8217;s start by answering these questions:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">What problem does your product solve for your customers?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">What makes your product different?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Why should customers choose your product?<\/span><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-5138\" src=\"https:\/\/cleverads.com.ph\/blog\/wp-content\/uploads\/2023\/02\/new-product-blog-602x347pix_optimized.jpeg\" alt=\"marketing plan\" width=\"602\" height=\"347\" srcset=\"https:\/\/cleverads.com.ph\/blog\/wp-content\/uploads\/2023\/02\/new-product-blog-602x347pix_optimized.jpeg 602w, https:\/\/cleverads.com.ph\/blog\/wp-content\/uploads\/2023\/02\/new-product-blog-602x347pix_optimized-300x173.jpeg 300w\" sizes=\"auto, (max-width: 602px) 100vw, 602px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">When you answer these questions, you will find out the USP (Unique Selling Point) of the product. From there, your product stands out among thousands of other competitors.<\/span><\/p>\n<h3><b>3.2. Identify target customers<\/b><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-5139\" src=\"https:\/\/cleverads.com.ph\/blog\/wp-content\/uploads\/2023\/02\/target_audience-1024x459-1-768x344-1.png\" alt=\"marketing plan\" width=\"768\" height=\"344\" srcset=\"https:\/\/cleverads.com.ph\/blog\/wp-content\/uploads\/2023\/02\/target_audience-1024x459-1-768x344-1.png 768w, https:\/\/cleverads.com.ph\/blog\/wp-content\/uploads\/2023\/02\/target_audience-1024x459-1-768x344-1-300x134.png 300w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Target customers are groups of people with similar interests, behaviors, and specific demographics. Target customers have an important role in increasing marketing<\/span><b> ideas, <\/b><span style=\"font-weight: 400;\">customer acquisition, and product development.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Your target customers can be identified by some of the following characteristics:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Age<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Sex<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Geographical location<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Income<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Habits and preferences of individuals<\/span><\/li>\n<\/ul>\n<p>Read more: <a title=\"What is the target customer? The most effective ways to identify\" href=\"https:\/\/cleverads.com.ph\/blog\/what-is-the-target-customer\/\" target=\"_blank\" rel=\"noopener\">What is the target customer? The most effective ways to identify<\/a><\/p>\n<h3><b>3.3. Competitor analysis<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Understanding competitors, and analyzing their marketing strategies is a very important step to survive in this market. Marketing is creativity, it is creating the essence of the business. Therefore, it is impossible to imitate what previous competitors have done.<\/span><\/p>\n<p><b>Marketing ideas for new products<\/b><span style=\"font-weight: 400;\"> must create a difference compared to their old products and compared to competitors&#8217; products so that new customers pay attention and consider choosing your product.<\/span><\/p>\n<h4><b>Competitors can be classified into four categories:<\/b><\/h4>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Direct competitor<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Indirect competitors<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Subconscious competitor<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Competitors are partners<\/span><\/li>\n<\/ul>\n<h3><b>3.4. Define specific goals<\/b><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-5140 alignleft\" src=\"https:\/\/cleverads.com.ph\/blog\/wp-content\/uploads\/2023\/02\/SMART-300x172-1.png\" alt=\"marketing plan\" width=\"300\" height=\"172\" \/><\/p>\n<p><span style=\"font-weight: 400;\">After you&#8217;ve analyzed your new product, and done some research on the market and your competitors, it&#8217;s time to define the goals you want to achieve through your new product&#8217;s marketing plan.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The campaign objective will have to be aligned with the strategy, idea, and budget.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The most common method of setting marketing goals is to use the SMART system, which means your goals must be: S-Specific, M-Measurable, A-Attainable, R-Realistic, and T-Time-bound.<\/span><\/p>\n<h3><b>3.5. Choosing a marketing planning tool for a new product<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Choose and use the right marketing tools to help the campaign reach the right target audience.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-5141 aligncenter\" src=\"https:\/\/cleverads.com.ph\/blog\/wp-content\/uploads\/2023\/02\/109-768x467-1.jpeg\" alt=\"marketing plan\" width=\"768\" height=\"467\" srcset=\"https:\/\/cleverads.com.ph\/blog\/wp-content\/uploads\/2023\/02\/109-768x467-1.jpeg 768w, https:\/\/cleverads.com.ph\/blog\/wp-content\/uploads\/2023\/02\/109-768x467-1-300x182.jpeg 300w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Therefore, before making a marketing plan for a new product, it is necessary to understand the important and necessary marketing tools:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Social Marketing (Social Network Marketing)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Trade marketing (Marketing at the point of sale)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Advertising\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Direct Marketing\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Public Relations<\/span><\/li>\n<\/ul>\n<h3><b>3.6. Determine the budget<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">The budget is listed below, but it is a very important factor in determining whether your marketing plan for your new product is successful or not.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Usually, the determination of the marketing<\/span><b> budget for the new product<\/b><span style=\"font-weight: 400;\"> will include the following items:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Budget to pay commissions for advertising agencies, agencies.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Human resource training budget<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Online marketing budget<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Sales budget<\/span><\/li>\n<\/ul>\n<h2><b>4. Example of developing a marketing plan for a new product<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">One example of serious product research is planning<\/span><b> Marketing for a new product: lipstick<\/b><span style=\"font-weight: 400;\"> M.O.I by Ho Ngoc Ha. Thorough research is evident. Ha Ho realizes that the domestic market is under the dominance of mid-range lipsticks such as 3CE, Bonjours&#8230;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The psychology of domestic goods is the first plus point in the strategy of M.O.I.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-5142 alignnone\" src=\"https:\/\/cleverads.com.ph\/blog\/wp-content\/uploads\/2023\/02\/kha-nang-len-mau-Son-Sgirls-Liquid-Matte-Lipstick-768x768-1.jpeg\" alt=\"marketing plan\" width=\"768\" height=\"768\" srcset=\"https:\/\/cleverads.com.ph\/blog\/wp-content\/uploads\/2023\/02\/kha-nang-len-mau-Son-Sgirls-Liquid-Matte-Lipstick-768x768-1.jpeg 768w, https:\/\/cleverads.com.ph\/blog\/wp-content\/uploads\/2023\/02\/kha-nang-len-mau-Son-Sgirls-Liquid-Matte-Lipstick-768x768-1-300x300.jpeg 300w, https:\/\/cleverads.com.ph\/blog\/wp-content\/uploads\/2023\/02\/kha-nang-len-mau-Son-Sgirls-Liquid-Matte-Lipstick-768x768-1-150x150.jpeg 150w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \/><\/p>\n<p><i><span style=\"font-weight: 400;\">The company positioned itself as the first professional makeup brand from Vietnam: meeting international standards, and suitable for Asian women.<\/span><\/i><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">M.O.I emphasizes reasonable prices in the mid-range segment.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">M.O.I competes directly with brands from Korea.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">M.O.I&#8217;s target customers are young women, business people, and office workers aged 22-30 years old.<\/span><\/li>\n<\/ul>\n<h3><b>High effect in the mid-range cosmetics segment\u00a0<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">The campaign features successful and financially independent female KOLs in various fields. This is a very good message to the psychology of modern women.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This strategy is considered a pretty good debut when the company. Thanks to that, it has both raised the brand and positioned in the customer&#8217;s mind as the professional cosmetic brand of the Vietnamese people.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">What ultimately makes your marketing strategy successful? <\/span><span style=\"font-weight: 400;\">M.O.I Cosmetics<\/span><span style=\"font-weight: 400;\"> The main thing is: that this brand chooses the direction of social networks to set up its distribution channels. In addition, she often uses the M.O.I brand image in her music videos such as Destiny, Girl&#8217;s Night, Keep Me in Love, My Baby, and What is Love.<\/span><\/p>\n<h2><b>6. Conclusion<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Remember, the plan is marketing<\/span><b> for new products<\/b><span style=\"font-weight: 400;\"> Proposing and testing all the alternatives, and finding the final fit for your new product.<\/span><\/p>\n<p><a href=\"https:\/\/register.cleverads.com.ph\/ph-contact\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">CleverAds<\/span><\/a><span style=\"font-weight: 400;\"> Hopefully, the above useful information will help you better understand and take the right step for your business in the next new product promotion campaigns. Good luck with your business setting up a <\/span><b>Marketing plan for a new product of mine<\/b><span style=\"font-weight: 400;\">!<\/span><\/p>\n<h2 style=\"text-align: center;\"><em><b>If your business is in need of Digital Marketing solutions, contact us at<\/b><a href=\"https:\/\/register.cleverads.com.ph\/ph-contact\" target=\"_blank\" rel=\"noopener\"> C<b>leverAds<\/b><\/a><b> for the fastest support!<\/b><\/em><\/h2>\n","protected":false},"excerpt":{"rendered":"<p>What is the perfect marketing idea for a new product?? Steps to make a Marketing<\/p>\n","protected":false},"author":4,"featured_media":5136,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[15,21,22,401,411],"class_list":["post-5135","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-marketing","tag-agency","tag-cleverads","tag-marketing","tag-marketing-solution","tag-marketingtrend"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/cleverads.com.ph\/blog\/wp-json\/wp\/v2\/posts\/5135","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cleverads.com.ph\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cleverads.com.ph\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cleverads.com.ph\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/cleverads.com.ph\/blog\/wp-json\/wp\/v2\/comments?post=5135"}],"version-history":[{"count":6,"href":"https:\/\/cleverads.com.ph\/blog\/wp-json\/wp\/v2\/posts\/5135\/revisions"}],"predecessor-version":[{"id":6881,"href":"https:\/\/cleverads.com.ph\/blog\/wp-json\/wp\/v2\/posts\/5135\/revisions\/6881"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cleverads.com.ph\/blog\/wp-json\/wp\/v2\/media\/5136"}],"wp:attachment":[{"href":"https:\/\/cleverads.com.ph\/blog\/wp-json\/wp\/v2\/media?parent=5135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cleverads.com.ph\/blog\/wp-json\/wp\/v2\/categories?post=5135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cleverads.com.ph\/blog\/wp-json\/wp\/v2\/tags?post=5135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}