MBAFPX5012 Assessment3 1.doc Digital Marketing Plan MHS Marketing Team Executive Sum

MBAFPX5012  Assessment3 1.doc    Digital Marketing Plan  MHS Marketing Team  Executive Summary  The following is a marketing plan for MHS to expand into the dog treat market, specifically with CBD dog treats. The CBD dog treat market  has skyrocketed as most households have  pets that are  considered an extension to their own family. MHS will be using  the diversification growth approach, the buying process will be relatively the same as with MHS™s other  products. MHS products are available in pet stores across the nation, the CBD treats will also be provided  the same way. MHS can utilize social media and content marketing to drive traffic to our product. For MHS and the new product, penetration pricing would be best  fit for pricing strategy. When  looking at distribution strategies, it would be beneficial to utilize the intensive distribution strategy. In order to track the effectiveness of the marketing campaign, MHS can check  the ROI or return  on investment as well as looking at increment sales.  Business Context  MSH is a pet food company that has decided to branch out with a new product. The product  will be called Waggy Shaggy, which will be a CBD treat for dogs.  The reason for this expansion is that the consumers have  expressed how nervous their four legged friends can get when there  is a thunder storm  or an event  that involves loud noises like fireworks. Competitors have  created dog accessories like thunder shirts, but what if something that humans can ingest and understand the benefits