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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).

Reverse Microwave Oven

In simple words, the definition of microwave refers to a form of electromagnetic radiation with wavelengths which ranges from one meter to one millimetre corresponding to the frequencies. But here, we are not only talking about microwave but a microwave oven which can be also known just as "microwave". A microwave oven is an electric oven that cooks and heats food by exposing it to electromagnetic radiation in the microwave frequency ranges. Microwaves are very common these days, it is one of the technologies that has made our life easier without consuming much time.

The topic our group has chosen is "reverse microwave oven", we know microwaves that convert our cold foods into hot/warm in just a minute or few but there is no microwave that works same as microwave but in reverse. We researched and found out that there are so many microwaves from various companies which converts hot food into cold but in an hour or more. So, our innovative product, we want to discuss more in our assignment is reverse microwave oven which can convert hot food into cold just in few seconds or minute of few minutes just as same as how quick it turns cold food into warm, without taking much time.

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 will self-enrol 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 has to 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 200 words

- 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

- 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
- 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

- 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

Word count: 2500 words

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

- 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