Purpose of proposing a new product

Assignment Help Marketing Management

Reference no: EM133139828

MRKT13014 New Product Development and Branding - CQ University

Task Description

The second assessment task requires you to develop and write a marketing strategy statement proposal for a new product/service idea of your creation. You will present the marketing strategy statement proposal as a single Word document. This Word document should be 2000 words maximum excluding the title page and reference list.

Your task is to choose ONE (1) of the business/organisation options listed below focusing on an existing Australian-based business/organisation to develop and write a marketing strategy statement proposal for a new product/service idea of your creation targeting the Australian market.

1. Body care products.
2. Organic (or natural) health products.
3. FMCG food and beverages.
4. Assistive technology, products and services.
5. Non-contact mobility products and services.
6. Work/Study from home products and services.
7. Pandemic related product and services.
8. Sustainable hotel (or resort).

NB: The business/organisation option you select and the new product/service idea you come up with will also be used in the Third Assessment task.

Your marketing strategy statement proposal for a new product/service idea should include and address each of the following:

Question 1. Write a marketing strategy statement for the purpose of proposing a new product/service idea for your chosen business/organisation.

Question 2. Describe how you would conduct a business analysis for your new product/service idea.

Question 3. Outline why innovative products/services might be important to your chosen business/organisation.

Question 4. To narrow down the 'concept' of your new product/service idea, explain what makes your new/product service idea unique and whom it would likely appeal to and why.

Question 5. What do you need to consider ensuring your new product/service offering, and likely business model, can be adopted? Can your new product/service remain sustainable? (i.e., the social and business challenges of new product development).

Question 6. Outline what other strategies your selected business/organisation could use to source new product/service ideas and how this might be incorporated into their new product/service development strategy.

Attachment:- New Product Development and Branding.rar

Reference no: EM133139828

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