marketing hw

Marketing Plan Development

Directions: For this course, you will be developing a marketing plan for a new product (or service). Each week, you will develop a different part of the marketing plan. The marketing plan will become your final project.

You will need to access the Module 1 Homework Assignment Template in order to complete this assignment. The Module 1 Homework Assignment Template appears on the Homework Assignment Introduction page in iBoard.

In Module 1, you will select your product and write an essay that is two (2) pages in length. This will become the introduction for your Marketing Plan. Please follow the instructions that are listed below.

1. You may select one of the products below. You will come up with a name for the product. You need to decide if this is a new product for a brand new company or if it is a new product for an existing company. [ Note: If you have a different product or service that you would prefer to research, you must receive pre-approval. Please contact your instructor regarding your selection and explain why you want to use that product or service. Also, you may not use a product that will be provided for free . Please check with the instructor if you are unsure. ]

Product 1: a great new environmentally friendly cleaning product

Product 2: a new popular online game

Product 3: a new tooth whitener

Product 4: a new power charger for tools

Product 5: rear seat inflatable seat belts

Product 6: a new skin care product that takes years off your appearance

Product 7: a great new soft drink

Product 8: a new healthy snack food for adults or kids

2. The following is a checklist for the Module 1 Homework Assignment. Your paper must include the following sections:

• Identify if this is a new product for a brand new company or if it is a new product for an existing company. Discuss the external environment within which that this company operates. This will primarily be the economic environment and the competitive environment.

Perform a SWOT analysis for your company or product. Ensure that you discuss the internal and external environments for your product. Identify its internal strengths (S) and weaknesses (W) and also examine external opportunities (O) and threats (T). Strengths and Weaknesses are always internal to the firm, and Opportunities and Threats are always external to the firm. Be sure that you analyze other competitors to your product. Discuss your competitive advantage. Ensure that you define your product in terms of one of the three types of competitive advantages: cost, product/service differentiation, or niche strategy. You must use an in-text citation for the material you obtain from the textbook.

Discuss which marketing strategic alternative you will use: market penetration, product development, or diversification. Please note that it is unlikely that you will use marketing development for a new product. Explain why you selected the alternative that you did. Be sure to use an in-text citation for the material you obtain from the textbook.

Discuss the product in terms of the company’s corporate responsibility. This must include: profits (economic responsibility); obeying the law (legal responsibility); doing what is right, just, and fair (ethical responsibilities); and being a good corporate citizen (philanthropic responsibility). You may also want to include a discussion on sustainability. Be sure to use an in-text citation for the material you obtain from the textbook.

Discuss your global vision for the new product or service by recognizing and reacting to international marketing opportunities and using effective global marketing strategies. You must select at least one foreign country and find some specific items about that country’s culture. Then, you must discuss why your product would or would not be a good fit for that country. You may use LIRN (visit the Academic Resource Center for instructions on how to use LIRN) or the links below to find out information about your country of choice. Be sure that you cite the references that you use.

• International Business Etiquette, Manners, & Culture website (http://www.cyborlink.com/)
• GlobalEdge website (http://globaledge.msu.edu/Global-Insights)

• Be sure that you include a reference to the textbook at the end of your paper.