questions

PART1: Given your innovation, now is the time to revise past assignments to reflect the changes needed. For example, your competition may have changed - even your segments may have changed. That's why I refer to successful marketing as "knitting toward the middle." By that I mean that over time, as a company changes its products, expands its product line or realizes that its in a dying industry: marketers must revise the marketing plans, programs and objectives.

Use the comment box to tell me what you are revising - or what you are not revising. PLEASE: If you are revising an entire assignment (or several) please let me know that in the comment box for this assignment. If you are revising a portion of your assignment - please put your revisions in RED type. Do this for each assignment you are revising.

Upload each revision - making sure to identify both your BPS and your IBPS on each assignment. If you are sending NO revisions - please upload the comment: NO REVISIONS. Please think carefully about this opportunity to revise your work, whether that's because of your innovation or because you have mastered concepts now that you earlier did not perfectly understand.

Note: You may also begin your work on the Marketing Plan Template - but that will not be due until your final presentation is due.

PART 2:

Instructions

Identify the price point (or range) for your PSB. Consider the added value of your innovations, your means-end chain, your segments' profiles, your positioning and the price of your competition. Please provide your rationale for your price.

Describe your distribution strategy - what is your channel strategy?

EXTRA CREDIT - 6 POINTS

3. Briefly describe the expansion strategy you will need to have in place to reach sufficient buyers, in order to reach the 3-5 year strategic goal of being number two or three in market share.

Consider these questions as you develop the rationale you share with me:

- Will buyers who are now satisfied with their current choices buy your innovated PSB in addition to what they are buying now from your competition (both direct and indirect)?

- Will your innovated PSB be positioned so it will displace some competition?

- Will you need to change current preferences and buying habits, and educate the buyer?

- Will the segments you identified be sufficient in size and buying power to reach our strategic goal?

Do you need to penetrate different segments than those you have already identified?

- Will you need to add more PSBs (or innovations on current PSBs) to sell to your current segments? Will they be able to or likely to purchase more or replace/upgrade their previous purchase?

- If you are successful in this geo-market, where would you expect to expand- to a new geographic market, perhaps nearby or to a market in some ways very much like your new entry market?

PART3.

Outcome: Your Executive Summary/Marketing Plan Template plus a PPT (or other style of presentation to the class)

Instructions

1. Prepare an executive summary for your IBPS in your TEM, using the marketing plan template (see this under Unit 10 Presentation: The Marketing Plan Template - What You Will Turn In. Your template may be a document or presentation, and should include revisions of the work you prepared during the course. This includes the extra credit work you have successfully completed.

2: Create a short PPT presentation (or another way you prefer to present in class). In the presentation, you MUST include the sample of your marketing communications - I am specifically looking for experiences and engagement directed to your segments (not simply ads or pages on digital networks).

Of course, in your presentation you will present key facts, insights, analysis and recommendation that you are going to include in your marketing plan and programs.

NOTE: This is NOT a description of your marketing communications. You MUST PRESENT A SAMPLE of your marketing communications. If you do not include a sample, unfortunately you automatically lose 7 points from this assignment.

Rule: Make sure to PRINT OUT a copy of both the executive summary and your PPT. Give them to the instructor when you come into class on the last day. Make sure YOUR NAME appears on ALL papers. ALSO: Put your presentation number on the presentation - you will sign up on the board when you come to class on the last day.

If you come to class late - you may lose the opportunity to present, and you will lose 5 points from your final grade.

EXTRA CREDIT OPPORTUNITY

Summarize your media strategy in your executive summary, and include them in your PPT presentation.