Design a strategic marketing plan for a new product launch in a competitive mark

Design a strategic marketing plan for a new product launch in a competitive market environment. Conduct market research to identify target demographics, consumer preferences, and competitor analysis. Utilize the marketing mix (product, price, place, promotion) to develop a comprehensive marketing strategy aimed at achieving specific objectives. Implement innovative promotional tactics such as social media campaigns, influencer partnerships, or experiential marketing events to generate buzz and drive sales. Incorporate budgeting, timeline, and performance metrics for tracking and evaluating the effectiveness of the marketing plan. Present your strategic marketing plan in a detailed report format, showcasing creative ideas and actionable strategies to capture market share and achieve sustainable growth.