Scenario 1: You are an entrepreneurs have come up with an innovative new product you wish to market. The product can be a consumer or organizational good or service (therefore, either a B2C or B2B product).
You will be required to document the development process of your new product, and develop a marketing plan for it to become commercially available.
Scenario 2: You are a brand/product managers, hired to develop a new product line or brand extension for the company’s top-performing product (Note: students choose the company and brand/product). Based on the company’s mission and goals, status in the market, current target market, and brand power, you will develop a marketing plan for the new product/brand extension.
The assignment includes many of the areas that were read about, discussed and learned from the textbook and during class sessions. This project will demonstrate the understanding and the applications of the course learning. Therefore, the content should be based on the latest marketing methods and tools available, as well as based on the iBook, which should be used as a reference for the project.
This project must have a cover page (with the title you have given it, your name, course number and section, and semester and year of the course). On the second page you will provide a Table of Contents. On page 3, you may begin with the Introduction heading and only use the required headings for the assignment.
The document should be formatted according to the latest APA standards.
The text should be:
Times New Roman, Font Size 12, Double-Spaced and 1” margins all around.
Direct quotes must be appropriately cited. Bullet-points are allowed, but should comprise a small portion of the entire document. The document must be written in narrative, 3rd-Person format, free of colloquial (casual) lingo.
Tables and figures are likely to be useful for this assignment. These should be placed in the Appendix (with a title for each one) and discussed in the appropriate section. When these are discussed, reference them in the text or body of your report, e.g., See the Appendix Table (title/name). The VP for Marketing needs to know all of the facts and findings that is explained clearly and extremely well (as if the VP does not know anything about your findings).
Your statements and findings must not only be clearly stated and logical but also supported by your research (with cited sources of information). Furthermore, all facts (other than common knowledge) must be cited in the text or body of the report and the informational source listed in the References section using APA style guidelines. A fact is more than just a number (e.g., statistic) but also a definitive/specific point, statement or information unknown to others, e.g., the VP, any reader of the report. Such facts and informational sources should include of course the organization, its retailers, competitors, current and potential customers, the Internet, Lynn
Library (databases and hardcopy publications), and other personal interviews that are applicable to determining successful market research findings and developing a market assessment and analysis report.
Table of Contents
Core Competences/Competitive Advantage(s)
Target Market Analysis
SWOT Analysis *
Analysis of Internal Strengths and Weaknesses
Analysis of External Opportunities and Threats
Marketing Mix Strategy *
Points of Difference
Integrated Marketing Communications
Distribution (Place) Strategy
Financial Data & Projections
Evaluation of Marketing Activities
* The SWOT Analysis and the Marketing Mix Strategy represent the checkpoint assignment. The entirety of the marketing plan represents the Final Project.