Marketing Plan of New Product
Marketing Plan Report #2
Student Name: Tazreen Sikder
Student Number: 073-055-097
Professor 's name: Scott Waites
Course: MRK200
Table of Contents
Executive Summary.................................................page 3 Product Strategy.......................................................page 3 Product Packaging Picture......................................page 7 Price Strategy..........................................................page 10 Bibliography.............................................................page 13
Executive Summary Discuss your new product idea and why you believe that there is an unsatisfied need/want and demand for this product idea in the Canadian marketplace. My new product idea is Loreal 's brand new multifunctional liquid makeup foundation, which will cause minimal sun damage and will be water resistant. Therefore the user will only be protected from the harmful UV rays of the sunlight, but will also be protected from water. Users will enjoy the convenience of the product by not having to apply two layers sunscreen along with makeup foundation simultaneously. Moreover, the multifunctional makeup foundation is available in 25 different shades, to match the most suitable skin tone for the user! Now users can easily apply just ONE product instead of two different products, and stay out in the sun, swim and enjoy a day at the beach, without having to worry about their skin being sunburnt, or their makeup foundation wearing off in the water. 6.Product Strategy
a.Identify the Product Class (For Example state if, Impulse Convenience Good, New Unsought Good, etc. or if a B-2-B Product, Installation, Accessory Equipment, etc.)
The product class which the multifunctional makeup foundation fits into is 'new unsought product '. Although consumers are already familiar with the concept of sun-proof and waterproof, they are still unaware of a product which
Student Name: Tazreen Sikder
Student Number: 073-055-097
Professor 's name: Scott Waites
Course: MRK200
Table of Contents
Executive Summary.................................................page 3 Product Strategy.......................................................page 3 Product Packaging Picture......................................page 7 Price Strategy..........................................................page 10 Bibliography.............................................................page 13
Executive Summary Discuss your new product idea and why you believe that there is an unsatisfied need/want and demand for this product idea in the Canadian marketplace. My new product idea is Loreal 's brand new multifunctional liquid makeup foundation, which will cause minimal sun damage and will be water resistant. Therefore the user will only be protected from the harmful UV rays of the sunlight, but will also be protected from water. Users will enjoy the convenience of the product by not having to apply two layers sunscreen along with makeup foundation simultaneously. Moreover, the multifunctional makeup foundation is available in 25 different shades, to match the most suitable skin tone for the user! Now users can easily apply just ONE product instead of two different products, and stay out in the sun, swim and enjoy a day at the beach, without having to worry about their skin being sunburnt, or their makeup foundation wearing off in the water. 6.Product Strategy
a.Identify the Product Class (For Example state if, Impulse Convenience Good, New Unsought Good, etc. or if a B-2-B Product, Installation, Accessory Equipment, etc.)
The product class which the multifunctional makeup foundation fits into is 'new unsought product '. Although consumers are already familiar with the concept of sun-proof and waterproof, they are still unaware of a product which
Bibliography: Basic Marketing - A Global Managerial Approach. 12th ed. Lynn Fisher. Print. McGraw-Hill Ryerson.