Assignment:
PART: Marketing Plan Development
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.
In Module you will select your product and write a two page essay. This will become the introduction for your Marketing Plan. The instructions are below.
1. You may select one of the products below. (If you have a product or service that you would rather research, you must receive pre-approval. Please contact your instructor regarding your selection and explain why you want to use that product or service.) 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.
• 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. Checklist for the Module 1 Homework Assignment. Your paper must include the following sections:
a. 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 that this company operates within. Primarily, this will be the economic environment and the competitive environment.
b. Discussion of your competitive advantage: Be sure you define your product in terms of one of the three types of competitive advantages: cost; product/service differentiation; or niche strategy. (You may want to use a SWOT analysis.) Be sure to use an in-text citation to the material you obtain from the textbook.
c. Discuss which marketing strategic alternative you will use: market penetration, product development, or diversification (note: 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 to the material you obtain from the textbook.
d. Discuss the product in terms of the company's corporate responsibility: Be sure to include: profits (economic responsibility), obeying the law (legal responsibility); doing what is right, just, and fair (ethical responsibilities); 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 to the material you obtain from the textbook.
e. 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 and 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 you may use the links below to find out information about your country. Be sure that you cite the references that you use.
• International Business Etiquette, Manners, & Culture website
• GlobalEdge website
f. Be sure that you include a reference to the textbook at the end of your paper.
Discussion question choices (Please pick 2).
1. Discuss the role of public relations in the promotional mix 2.
2. Define and state the objectives of sales promotion 3.
3. Discuss the most common forms of consumer sales promotion
4. 4. List the most common forms of trade sales promotion
5. 5. Describe personal selling and list the steps in the selling process