Reference no: EM132609834
HI5004 Marketing Management - Holmes Institute
Assignment - Semester-Long Marketing Plan Project
This assignment requires your group to undertake the process of analysing one product/service and its operating environments from a marketing perspective. And then apply the learning from lecture 1-11 in the development of marketing strategy. You will provide an overview of this product/service, as well as detail the type of orientation towards marketing it takes. You are also required to examine and analyse the context and environments in which this product/service operates (its industry and the macro-environmental forces impacting on the industry).
Semester-Long Marketing Plan Project
An effective way to help students learn about marketing management is through the actual creation of a marketing plan for a product or service. This project is designed to accomplish such a task.
Each group set up a company and decides on a consumer product or service they wish to bring to market. It has to be aninnovative product/service which has never been in the market before and not belong to any existing company. You can discuss with your tutor about the product/service that you want to select.
1. Product/service Approval:
Length: 200 words
- By the end of week 6 (11pm Friday 28th August) group needs to submit the product/service that they will select for the group report
- The proposal includes: Introduction about the product or service. Please be aware about the requirement of the product/service. It has to be an innovative product/service which has never been in the market before and not belong to any existing company
- By the end of week 7, 4thSeptember, if the product/service is approved, group can select it to do the group report. The approval will be indicated in the feedback to learner box in the proposal submitted
- By the end of week 7, 4thSeptember, if the product/service is not approved, zero mark will be given and the coordinator will inform you to select a different product/service. Group has 3 days to select a new product/service. By the end of 7thSeptember, the new proposal needs to be resubmitted. The new proposal won't be marked. If the group does not select a different product/service as required, the group report will be marked Zero. The coordinator will inform the group if the new product/service is approved by email
2. Blackboard tools
In order to get marks:
From week 8 to week 11, all the group members need to use Blackboard tools:
- All the discussion about group assignment needs to be recorded by using Group Blogor Discussion Board tool (Instruction can be found below, for further question, please advise your tutor). The discussion must be relevant to the content of the assignment and reflects the outcome of the group meeting.
- Group needs to use File exchange tools: All the academic papers that are used in the assignment need to be posted on BB by using File Exchange tool (Instruction can be found below, for further question, please advise your tutor).Group needs to submit the Draft for their assignment by using File Exchange tool
If one of the requirements above is not followed, this assessment will be marked ZERO
3. Group Report
Word count: 2500 words (+/- 10%) for the report
Requirement:
The report analysis:
- Competitive information
- Environmental scanning.
- Demand forecasted
- Specific market segmentation, targeting, and positioning statements
- Product or service's brand positioning
- Who are the market leaders for their chosen product or service? What niche have they identified for their product/service? Is their product or service going to be a leader, follower, or challenger to well-established products or brands?
- Consumer-adoption process for their new product. How will the consumer learn about their new product and how quickly will they adopt it? Will the product be targeted to the heavy users and early adopters first, then early and late majorities? What is their estimated time for full adoption?
- Pricing strategy decisions for their product/service. Students have addressed all or most of the material concerning pricing covered in week 8.
- Students should be directed to turn in their retailing, wholesaling, and logistical marketing plans. Those students who are acting in the role of providing a new "service" should include here their plans for locations, hours of operations, and how their "service" plans on managing demand and capacity issues.
- The integrated marketing communications mix.
- All the possible communication media (for example, students will tend to concentrate their media on television or on the Internet and include other forms such as personal selling and radio).
Attachment:- Long Marketing Plan Project.rar