Assignments –Students will select a company to create a marketing plan for a new product concept that you believe offers the greatest ROI to your firm. Please keep in mind that this concept must be consistent with, or compliment, the existing mission of the company. Your written report and presentation slides must include the following sections:
1. Executive Summary of Your Plan
2. Company Background (company, history, line(s) of business, and industry it competes in)
3. SWOT Analysis
4. Strategic Analysis a) Mission, vision and core competencies/competitive advantages of your company/firm b) Description of your new product concept c) Goals and rationale behind the concept d) Alignment of concept with firm (how do they fit or complement each other?)
5. Competitive Analysis a) How is the market segmented? b) Who is the competition? c) Who is your target market? d) Why is it different from your competitors?
6. Marketing Mix a) Product (packaging, features, contents, flavors, size etc.) b) Place: distribution channel, extent of distribution, which methods and why did you choose them? c) Promotion: which method or combination of methods (advertising, PR, promotion, personal selling) did you choose and why, if advertising, which type of media and why? d) Pricing: what is your pricing strategy and your rationale?
7. Implementation Plan & Marketing Calendar: how will you roll out your product? How long will it take? Is it temporary or permanent?