Reference no: EM133001848
HI5004 Marketing Management - Holmes Institute
Topic - Improved of Smart Vacuum Flask with Beverage Identifier and Temperature Indicator
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.
Students need to be in a group of 4 (FOUR) (you can't change the group by any reason) the instruction how to find your group members have been sent to you, please have a look and read it carefully before you make the decision to select the group that you want to join in.
Each group set up a company and decides on a consumer product or service they wish to bring to market. It must be an innovative 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: Weight: 5 marks = 5 %. Length: 200 words
2. Blackboard tools
From week 4 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 Blog 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
3. Group 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:- Marketing Management.rar