new product development project

Assignment #3

New Product Development Project

Group Assignment

Marketing 116-Winter 2015

20% of Final Grade (3 parts)

Team and Product Selection Due Date – Week 5

Report/Presentation/Peer Evaluations Due Date – Week 14

Overview:

You are a marketing team of 4-5 students for a consumer goods company. Consumer goods companies produce an array of products including:

· Food – frozen foods, refrigerated and dairy products, fish, cereal grain products, confectionery, baking and dessert products, snack foods, canned and bottled goods, dry grocery and pet foods

· Beverages – bottled water, milk, fruit juices, tea, coffee, soft drinks and baby formula

· Consumer Products – household cleaning, paper products, health, beauty and personal care products, infant care, over-the-counter, medical and household batteries

Companies that produce such goods include: P&G, Unilever, Kraft, or Campbell, just to name a few.

Each team will pre-select a consumer’s goods company and then decide on a specific new product that they would like to introduce to the consumer market in preparation for this assignment. The team’s company and new product must be pre-authorized by your professor by week 5 of the course.

This assignment will be evaluated in three (3) parts:

1. 10% for the written group report

2. 7% for the group presentation that will be delivered in class week 14

3. 3% for peer evaluations for all team members within the working group

Assignment Objective:

· Your team’s objective is to create a new consumer good (product) for introduction to the Canadian Marketplace in 2015.

· Your team will complete market segmentation and also develop a comprehensive marketing plan to support the launch of your new product.

· This will include developing the marketing mix (4P’s) which will integrate all appropriate elements of the course content into a finished report and group presentation to your peers and professor week 14.

Report Content Outline:

As you develop your targeted marketing plan please ensure the following components are included in your analysis and professional report:

· Cover Page

· Table of Contents

· Problem Identification/Need Recognition:

· Describe the unfulfilled want or need your product will address for the consumer.

· Market Segmentation

· Identify the bases or variables to divide the total market into appropriate segments.

· Clearly outline the targeted segment characteristics.

· Provide a rationale for your targeted customer base.

· Marketing Mix:

· Product

· You must include a product brand name and rationale.

· You must provide a comprehensive description of the product.

· “Categorize or classify” your new consumer good product based on standards introduced during the course.

· Provide an overview of your packaging and labelling strategy.

· Place (distribution)

· Explain the factors that you considered to determine your marketing channel(s)

· Outline what specific distribution channel(s) you plan to utilize for your new consumer good (product).

· Promotion

· You have $500,000 Canadian dollars to support your promotional plan which must align to your specific market segments.

· First outline your promotional goals.

· Include a detailed overview of the promotional plan working with the budget provided to support the initial launch.

· You must also outline the rationale behind the selection of the promotional mix tactics that you have decided to utilize.

· Price

· Establish pricing goals.

· Estimate a demand forecast, costs and profits.

· Choose a pricing strategy to help determine a base price.

· Set the price by fine-tuning the base price with pricing tactics and explain your rationale.

· Team Contribution Page:

· Outline the name of each team member and provide a comprehensive summary of the contribution that they played by outlining their respective accountabilities and deliverables.

· Reference Page

Report /Peer Evaluation Expectations:

· Provide a word processed professional report outlining responses to all the questions provided on page 2 of this assignment outline.

· Your teams report must be at least 9 pages in length, single spaced with a font size of 12, including cover and reference pages.

· Each member will be expected to equally contribute to the marketing plan report and its content.

· Each member of the team will complete a peer evaluation at the conclusion of the assignment for all team members (excluding themselves) utilizing the peer evaluation template provided below. This evaluation must be typed, and submitted to the assignment drop box by each member of the team before class on April 14th, 2015. Failure to complete this assessment on time results in a zero on the team portion of the assignment evaluation. Peer evaluations represent 3% of your final grade.

· Your cover page should include: report title, company name, product name; all team member names & student #’s, course code, section number, professor name and a copy of rubric #1.

· Your written report will be graded out of 100 marks and will represent 10% of your final grade.

· The report must be authored by MKTG 116-Winter 2015 students to be graded

· Place your finished team report into the MKTG 116 assignment drop box on e-centennial before class April 14th, 2015. Please note: only one submission per team .

· Late assignments will NOT be accepted unless extenuating circumstances exist with appropriate supporting documentation.

Presentation Expectations: (in-class – Bring a printed paper copy to class)

· Each team will provide an executive overview of their written report to the rest of their peers and professor on April 14th, 2015. This portion of the assignment will be marked out of 20 and will represent 7% of the total course evaluation.

· Each team will be allotted 15 minutes for the in-class marketing plan presentation. Teams who utilize less or more than the allotted time will be penalized.

· Each presentation will have seven (7) power point (or Prezi) slides. Again, teams who utilize less or more than the 7 slides allocated will be penalized.

· Each member of the team must equally participate in the design and delivery of the group presentation. Students who do not participate in the presentation will receive a zero on this portion of the assignment unless extenuating circumstances exist with appropriate supporting documentation.

· A printed paper copy of the team presentation must be provided to the professor at the beginning of class the day of presentation. This copy will NOT be returned and will be used for grading purposes.

· Teams presentations will be assessed across 5 key categories including:

· preparedness, content, creativity of delivery, time management and collaboration

· The presentation flow should include:

· Team introductions

· Problem identification; need/want recognition overview

· Product overview

· High Level Overview of the Marketing Strategy (4P’s)

· Conclusion

· Q&A

Assignment #3 Rubrics:

There are three rubrics for this assignment that follow on pages 4-8. Any questions, please feel free to discuss them with your professor.

1) Report Rubric (10%)

Report Component	Your Mark/ Potential Mark
· Problem Identification	/4
· Product Overview	/6
· Market Segmentation · Supporting rationale	15
· Product Strategy · Supporting rationale	15
· Place (Distribution Strategy) · Supporting rationale	15
· Promotional Strategy · Supporting rationale	15
· Pricing Strategy · Supporting Rationale	15
· Team Contribution Summary Page	/5
· Overall Report Style/Format · Your report should professional written and should be error free as it relates to spelling/grammar/ punctuations	/5
· APA Citations	/5
Total Marks Weighted Marks	/100 /10%
Feedback:

2) Group Presentation Rubric – (7%)

Item	4	3	2	1
Preparedness/ Rationale	Well prepared. Team provided clear rationale for marketing plan. Presentation flowed smoothly.	Mostly well prepared. Team provided a somewhat clear rationale for marketing plan. Presentation for the most part flowed smoothly.	Not very prepared. There was not a strong rationale for the marketing plan. The presentation did not have a good flow.	Very unorganized. No clear rationale for marketing plan. The presentation lacked flow.
Content & Q&A Effectiveness	Team showed full understanding of the marketing plan and answered all questions asked.	Team showed good understanding of the marketing plan and answered most of the questions asked.	Team showed some understanding of the marketing plan and answered some of the questions asked.	Team showed no understanding of the marketing plan and could not answer questions asked.
Creativity	Team had a very creative presentation.	Team showed some creativeness.	Team showed little creativity.	Team showed no creativeness.
Time Management	Presentation was on time (13-15 minutes). Team utilized 7 slides.	Presentation was between (11-12). Team utilized 5-6 slides.	Presentation was between 9-10 minutes). Team utilized 3-4 slides.	Presentation ran over 15 minutes in duration. Or the Presentation ran significantly under allotted time (9 minutes or less). Slides were 8+ or < 3 in #.
Teamwork	The team demonstrated excellent collaboration with each other and showed strong communication All team members contributed equally to the presentation delivery.	The team showed good collaboration with each other and showed good communication. Most of the team contributed equally to the presentation delivery.	Little evidence of collaboration within the group. The group showed weak communication. 1-2 members of team dominated presentation.	There was no evidence of collaboration or coordinated communication. 1 team member delivered all of the presentation.

Peer Evaluation Guidelines and Template :

Peer Evaluation Criteria and Individual Peer Assessment Template

MKTG 116 – New Product Development Strategy Report/Presentation

Assignment #3

(3%)

Marking system:

Excellent! exceeds expectations 5

Good exceeds some expectations 4

Fair: Meets expectations 3

Inconsistent: meets some expectations occasionally 2

Poor: does not meet expectations 1

Instructions:

1) SUBMISSIONS MUST BE PREPARED USING A WORD PROCESSOR – NO HAND-WRITTEN SUBMISSIONS ACCEPTED.

2) Replace the generic names in this form with the first names of your team members, excluding yourself..

3) Give each team member a rating, from 1 – 5, on each of the skills/behaviours described.

4) Provide a total for each team member.

5) Provide any comments in the space provided. Please indicate which behaviours make an individual a “good” team member, and which behaviours did not contribute to a “good” team dynamic.

6) Submit this completed form via the e-centennial drop box alongside your assignment submission.

7) Note: THIS IS CONFIDENTIAL INFORMATION submit this form using the method described. Your professor will NOT reveal individual assessments to other students on your team. Only summary averages and anonymous comments will be shared.

8) STUDENTS FAILING TO SUBMIT A PEER EVALUATION, AND/OR SUBMITTING AN EVALUATION WITHOUT ADDING UP TOTALS, AND/OR PROVIDING STRENGTHS AND DEVELOPMENT OPPORTUNITIES ALIGNED WITH SCORES WITH THEIR ASSIGNMENT/PRESENTATION WILL RECEIVE A GRADE OF ZERO FOR THEIR OWN PEER EVALUATION FOR THIS PROJECT.

Centennial College - School of Business

Confidential Peer Evaluation Form Template

Page 1 of 2

Your Name: ________________________ Date: _________________________

Team Members Names:

1. ____________________________ 2. _____________________________

3. ____________________________ 4. _____________________________

Marketing Plan Company Name/Product Name: _________________________________________________________

	Student Names
Skills & Contributions
1.Team administration; attended all meetings on time, always prepared for each meeting
2. Co-operated with other Team Members; effectively listened, respected and encouraged the views of others, created a positive working team environment, communicated promptly with all team members
3. Work Quality/Timeliness: completed quality work as per time commitments
4. Contribution: consistent, active, and organized contributor who helped others be same.
5. Decision Making; helped to: identify alternatives, criteria for assessing alternatives, applied criteria, evaluated alternatives consistently
6. Idea Generation: Contributed useful, and creative ideas.
7. Conflict Resolution: Identified and implemented positive strategies for resolving conflicts.
8. Team Contribution: overall team member effectiveness
Overall Totals (out of 40)
Weighted out of 3
School of Business Confidential Peer Evaluation Form – Template Page 2/2
	Describe (at least) one key strength of each team member.	Describe (at least) one behaviour that you think each team member could modify in order to be a more high-functioning, contributing member to a team.
Student Name	Strengths	Development Opportunity