Describe the level of need in Maslow’s hierarchy that you would use in your ad toinfluence consumers to buy your product and why?What stage in the product life cycle is your brand and how does that affect youradvertising?NOW THIS IS AN EXAMPLE 1 / 8Marketing Final ProjectThe Marketing PlanYou are anadvertising agencyand your task is to create a marketing plan for a product/service. Youmay choose to do an existing product/service, but try to create your own with its own brand name. If youchoose an existing product or service, you must create an entirely new Marketing Plan, a new missionstatement, and a new logo.The Report (lines show suggested page breaks)1. Cover Page2. Table of contents3. Company Description – brief4. Company Mission Statement 5. Corporate Objective/strategy (what is the objective, and which strategy will be used?)6. External Influences1 Market Influences 2 Competitive environment3. Economic environment4 .Demographic environment5. Social and cultural environment6. Political and legal environment7. Technological environment7. Product/Service Brand Analysis – describe fully: the brand name, its features(“competitive advantages”), colours, sizes, accessories, service, etc. What consumer needsdoes it satisfy? 8. Price – strategy (be specific and justify)9. Place – strategy (channel of distribution, specific retailers, geographic areas) ch 12 2 / 8CANADIAN BUSINESS COLLEGE10. Target market – bevery specific, a minimum of four attributes geographic, demographic,psychographic) Will you target more than one segment? If so, how and why?11. Situation Analysis (SWOT): (a) Existing Product/Service: Assess the situation as you believe it exists today.(b) New Product/Service: Assess your imaginary situation.12. Promotion Strategy (a) Slogan and logoCompose a slogan and a logo. Describe why they are effective. (b)Sales PromotionCreate a Sales Promotion idea you will use to boost sales of your product/service. It can be acontest, coupon, giveaway, or any other idea you feel makes sense. (c)Advertising (Consumer buying behavior)Describe how you would best appeal to your target market:· Describe the level of need in Maslow’s hierarchy that you would use in your ad toinfluence consumers to buy your product and why?· What stage in the product life cycle is your brand and how does that affect youradvertising?This AN EXAMPLE. Choose 1 product or service for your marketing plan. You can choose an existing brand or invent yourown. If you choose and existing brand, you CANNOT choose an existing marketing plan for that item, butmust submit all original ideas.Products:1. Manufacturer of Shampoo (be specific in outlining the features of your shampoo )Hair Care in CanadaTRENDS· Companies are marketing their products as effective alternatives to visiting a hair salon. They arecreating highly specialised products that are directly in line with the latest fashions. In terms ofshampoos, conditioners, styling agents and colourants, consumers remained price flexible as a resultof new, innovative product formulations. Hair strengthening and health benefits were popular claimson the manufacturer-side. Producers added strengthening components to shampoo formulae, such askeratin, as well as natural oils and fruit extracts.COMPETITIVE LANDSCAPE· The competitive landscape in hair care in Canada is quite concentrated, with the top two playersaccounting for over one half of retail value sales in 2012. L’Oréal Canada and Procter & Gamble heldretail value shares of 30% and 27%, respectively. L’Oréal overtook Procter & Gamble in 2006.Alberto-Culver Canada (a subsidiary of Unilever Group) and Unilever Canada are ranked third andfourth places with retail value shares of 8% and 3%, respectively.PROSPECTS· While shampoos and conditioners are regular purchases for the vast majority of Canadians, theappetite for premium and salon hair care products will be contingent on a sustained recovery in thewider Canadian economy. As the same time, manufacturers need to strike a fine balance betweeninnovative hair care formulations and competitive pricing for cost conscious consumers. Innovationswhich promote hair health, including sulphate-free shampoos and conditioners, are anticipated to bebig winners over the short to medium term.