Identify a local company or organization you are familiar with\u2014Research the company to understand better its target market, products, services, and competitors. Ideally, you should plan a site visit to this business with your group and brainstorm some “New” ideas for the company.<\/p>\n\n\n\n
Utilizing market research, develop a new product or service for this company that fills a need or void in the market and aligns with the business or organization’s current activities.<\/p>\n\n\n\n
The Deliverables:<\/p>\n\n\n\n
1) Develop a marketing plan for your new product. The marketing plan should include the following sections in a written report and a 5+ minute group PowerPoint presentation.<\/p>\n\n\n\n
Company and Product Description (1 page)<\/p>\n\n\n\n
\u2022 This section will introduce the company highlighting its recent history and successes.<\/p>\n\n\n\n
\u2022 This section will also introduce the new product your company is planning to launch.<\/p>\n\n\n\n
Situational Analysis<\/p>\n\n\n\n
Industry Overview (1 page)<\/p>\n\n\n\n
\u2022 Describe the current market in which your company and a new product will compete. Look at the market from a national, regional, and local perspective.<\/p>\n\n\n\n
\u2022 Be sure to discuss any trends affecting the industry as a whole.<\/p>\n\n\n\n
Company SWOT Analysis (1\/2 page)<\/p>\n\n\n\n
\u2022 Strengths, Weaknesses, Opportunities, and Threats of the company<\/p>\n\n\n\n
Product SWOT Analysis (1\/2 Page)<\/p>\n\n\n\n
\u2022 Strengths, Weaknesses, Opportunities, Threats of the product<\/p>\n\n\n\n
Competitor’s Analysis (1 \u2013 2 pages)<\/p>\n\n\n\n
\u2022 Describe who your main competitors are.<\/p>\n\n\n\n
\u2022 Which products, if any, would you consider the main competition to your product? Why?<\/p>\n\n\n\n
Consumer Analysis<\/p>\n\n\n\n
Target Market (1\/2 page)<\/p>\n\n\n\n
\u2022 Describe who your target market is for your product.<\/p>\n\n\n\n
\u2022 Be sure to use the four target market profiles.<\/p>\n\n\n\n
Product Positioning (1\/2 page)<\/p>\n\n\n\n
\u2022 How will you position your product in the current market to appeal to your target?<\/p>\n\n\n\n
\u2022 What is your product positioning statement?<\/p>\n\n\n\n
Marketing Program<\/p>\n\n\n\n
Product Strategy (1 page)<\/p>\n\n\n\n
\u2022 What is the name of your product? Why did you choose this?<\/p>\n\n\n\n
\u2022 Describe the unique product qualities and how these are achieved<\/p>\n\n\n\n
\u2022 Explain how the product fits with the current product line<\/p>\n\n\n\n
\u2022 Describe the packaging \u2013 Be sure to discuss the image, the colours, the information included on the labels and how this packaging fits with the current product line.<\/p>\n\n\n\n
Pricing Strategy (1\/2 page)<\/p>\n\n\n\n
\u2022 What is the product’s price point, and how does this compare with the competition or substitute products?<\/p>\n\n\n\n
Promotional Strategy (1 \u2013 2 pages)<\/p>\n\n\n\n
\u2022 Describe the promotional strategies and tools you will use to promote your product.<\/p>\n\n\n\n
Distribution Strategy (1\/2 page)<\/p>\n\n\n\n
\u2022 How will the product be distributed?<\/p>\n\n\n\n
\u2022 Where will the product be distributed?<\/p>\n\n\n\n
\u2022 What is the Strategy for this distribution?<\/p>\n\n\n\n
Implementation Plan and Timeline (1 \u2013 2 pages)<\/p>\n\n\n\n
\u2022 How will this plan be implemented?<\/p>\n\n\n\n
\u2022 What is the timeline for implementation?<\/p>\n\n\n\n
\u2022 What is the Strategy for implementation?<\/p>\n\n\n\n
Marketing Plan must:<\/p>\n\n\n\n
\u2022 Be 10-12 pages typed, 11-point font, and double-spaced.<\/p>\n\n\n\n
\u2022 Include a title page with the assignment title, instructor, date, and team members.<\/p>\n\n\n\n
\u2022 All research should be cited, and a reference page should be included.<\/p>\n","protected":false},"excerpt":{"rendered":"
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