Develop an idea for and plan to market an innovative product

Assignment Help Marketing Management

Reference no: EM131560858 , Length: word count:4000

GROUP MARKETING PLAN -

Written Marketing Plan and In-class Presentation

Develop an idea for and a plan to market an innovative product (not a service). This is a group assignment based on self-selected groups. It involves the preparation of a written report and delivery of an oral group presentation. Groups consist of up to six members. When the composition of your group is known, provide this to the instructor in writing. Anyone who is not in a group of choice will still be required to do the entire project, so find your group early as this is a HUGE project to attempt on your own. I will NOT force people to work with you.

Presentations times and length will be determined based on class size and an announcement will be posted to advise you of this, allow a 5-minute question period at the end of your presentation. Each group member must have a substantial, active role in preparing the written marketing plan and in delivering the oral presentation. Your group charter will govern this process. Students and the instructor will assess group presentations.

The objective of the assignment is to create a marketing mix that provides for optimal fit in relation to the target market(s). Provide technical details showing sound application of marketing concepts. Make the applications of concepts explicit in both the written marketing plan and in your in-class presentation. Consider using PowerPoint or another visual medium as a framework for delivering your presentation.

Use the following headings in your written marketing plan:

A. Introduction

Provide a brief overview of the business and its new product.

B. Situation Analysis

Provide a partial SWOT analysis focused mainly on external factors as supported by a full environmental scan. All elements of the environmental scan MUST be sourced using in text citations and APA references.

C. Target market strategy

Describe the target market(s) for the product.

Identify the primary market profile.

Identify the bases used for market segmentation and targeting as discussed in our textbook (e.g. geographic, demographic, psychographics and behaviouristic, etc.). All elements of the target market MUST be supported and sourced using in text citations and APA references.

D. Product planning

Describe the product or service in detail (features, benefits, etc.).

Develop the prototype.

Describe the branding and positioning. (Must include a perceptual map) Illustrate the packaging.

E. Price planning

Outline broad basis for pricing objectives and goals.

Indicate anticipated costs.

Discuss pricing tactics considered.

Describe margins expected for intermediaries (if applicable) and retail price points.

Use a variety of spreadsheets to support your decisions.

F. Distribution planning

Describe intensity of distribution.

Describe length of channel and use of intermediaries.

Discuss functions of intermediaries.

G. Promotions planning

Describe each element in the integrated marketing communications plan.

Explain how you intend to inform and persuade potential buyers using the elements of the IMC.

Create and display all elements if the IMC (i.e. advertisements, public relations, sales promotions, direct response, event marketing/sponsorships and personal selling, etc.)

Attachment:- Assignment Files.rar

Reference no: EM131560858

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Reviews

len1560858

7/11/2017 4:49:07 AM

Hi I think 4000 works for total project is good. For the first 3 part you can arrange it by yourself. Please give us some big discount we are poor now. Thank you so much. Thank you, if there is any question or any concerned please email us.

len1560858

7/11/2017 4:49:00 AM

Total 4000 words, need in two parts as per instruction file attached. Attached is the sample marketing plan and the marketing plan requirements, as we saw the marketing plan you made for us, there isn't many sign that we can tell that is trying to make our own company, too many sources from the internet, you can tell from the sample marketing plan below. This project is more about creating our own company, our own product and more about our own ideas. You can use your imagination to create a whole new product that did not exist in the world yet.

len1560858

7/11/2017 4:48:50 AM

Attached is the additional information for the marketing plan. On part A, we need an introduction on the product, little bit on how it looks like and what does it do, remember it is not an essay, it is a marketing plan on a product, please make it looks like you are presenting this product. On part B, for the situation analysis, we needed a full external marketing environmental scan, also a full SWOT analysis on more detail, instead of the boxes you made in the project. You can have part A, B, and C done fist by the 13th this month. The rest can be done by the 24th this month also, and I will have sent you another email after the 14th with more additional information on part D, E, F, and G. It does not matter on how many words or pages you need to write, as long as you include all the requirements and follow the sample below it should be fine.

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