Because you are general business experts, your marketing strategy should be robust and detailed. It is up to you to determine how to design and develop the marketing strategy for your virtual business, which is a Virtual Reality Service with goggles.
These are important factors to consider as you conduct your research:
A group of angel investors owns 40% of the virtual business.
Each virtual team member was selected to start and operate this virtual business.
The angel investors hold three out of five permanent seats on the board of directors of your virtual business.
The angel investors will provide $100,000 to fund the virtual business.
It is your job to convince the angel investors that you deserve funding for your new virtual business venture.
In this graded discussion, you will contemplate the marketing strategies of your virtual business. To continue developing the strategic business plan, you should address the following discussion topics:
What are the components of a marketing strategy in a strategic business plan?
Discuss the components of the marketing mix and explain its importance in the strategic business planning process.
Discuss the types of products your business will sell (Mention VR goggles along with accessories such as headphones, controllers, etc.)
Discuss product branding.
Explain the differences between each of the components of the promotion mix.
Explain how a pricing strategy is realized.
Synthesize academic research to support your thoughts, ideas, statements, and opinions. Apply proper current APA style citation format.