Reference no: EM132997941

HI5004 Marketing Management - Holmes Institute

TOPIC - Home Recycling Machine

Long Marketing Plan Project

Purpose: 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).

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.

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