Marketing Plan Topic Outline (Proposal)

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Marketing plan topic outline
1. Proposed product
The new product being offered is the scented candle. This product would come in different scents offering customers a sense of luxuriousness depending on their preferences.
2. Reason for selecting the product
Many customers have shown an increased interest in scented candles for their ability to illuminate rooms as well as creating amazing scents inside rooms, especially during birthday parties. This increase in interest for the scented candles provides a market potential for this product. The product can thus attain a high level of sales and hence could be highly profitable.
3. Features, advantages, and benefits
The main feature of scented candles is that they come with different scents ranging from woodsy scents to fruity scents. These different varieties of scents help in meeting customers changing preferences. An advantage of the scented candles is that they assist in aromatherapy and they do not release harmful toxins. They have numerous benefits which include changing the lighting appearance and releasing cool soy into the air which creates a lovely and romantic atmosphere as well as creating a sense of calm.
4. Problem solved by the product
The different scents of the candles would help in meeting the different customers’ preferences for different scents. Customers would have more options to choose from depending on one’s scent preference. Different scented candles are associated with soothing capabilities as they boost alertness and may act as alternative remedies for insomnia.

5. The uniqueness of the product
The success of the product would be determined by its ability to sell. The major competitive advantage of the product would come from its quality and pricing. (Gmelin & Stefan 6). The average price of the new scented candles would be $20 compared to the pricing of the main competitor, Bath and Body Works, whose average price for the candles is $22. This would be crucial in attracting price-sensitive customers.
Reference
Gmelin, Harald, and Stefan Seuring. “Determinants of a sustainable new product development.” Journal of Cleaner production 69 (2014): 1-9.