Introduction

In the development of a marketing plan, it is first essential to comprehend as to what is marketing. Marketing is defined by the Chartered Institute of Marketing as the “identification, anticipating, and satisfying consumer needs and wants profitably.” On many occasions marketing is made synonymous to advertising. This is not true. Advertising is one of the components of marketing, whereas marketing is an extremely broad concept. The need for effective marketing has grown significantly over the years, since mankind has adopted trade. The very purpose of conducting a business activity is to provide goods and services to consumers, with the aim of earning profit. Therefore, as the definition of marketing states, it is extremely pertinent to have an effective marketing strategy in place. For only then the business can be deem as relevant and purposeful.

Overview of product

The product that we intend to launch is an educational software application. This is interactive software, which will allow any student sitting in any part of the world to access and attend live lectures of his/her particular course in any university of the world. This is meant to revolutionize the conventional imparting of education. It is often raised in slogans and political and electioneering campaigns that education would be made free and accessible to all. However, it has been observed in the light of the literacy rates, particularly in the developing countries that it is just a statement void of meaning and commitment. The software we intend to launch will materialize this dream into a reality.

Objectives

The very purpose of marketing is to identify and anticipate the needs and wants of the consumers. This first part of the definition of marketing is also the first part of our primary objective. We believe in the equal and qualitative education for all. Education is a universal birth right of every individual. However, most of the people in the world particularly in the developing country are deprived of this basic and fundamental right. The reason in most cases is non-affordability of the cost of education. This is unfairness at its best. Hence, the product that we are providing in the market is aimed to remove the obstacle of non-affordability. This interactive software will assist the students to enroll in any academic program of their choice from any university (that has our software). This will help them in obtaining academic qualification whilst sitting in their drawing rooms. This forms the first part of marketing, that is, identification and anticipation of consumer needs and wants.

The second part of our objective is to satisfy the needs and wants of the consumers 'profitably.' The product we are intending to launch in the market is a unique one, and does not have many related instances. However, the product would require an enormous capital investment. The research and development of this unique software would prove costly. Therefore, our first objective would be to cover the costs that would be incurred in the development of this software, by adding a small margin in order to earn ...