Introduction
You have recently joined as marketing manager for a company that has been marketing a branded product X* for the past 10-20 years. The product has now reached its maturity and its sales have been stabilized. The management is worried that the sales soon will start declining for this product. Before that happen, it wants to prepare with its next plan of action. The management is thinking about either reviving the product or introducing a new one in the same line. The management has asked you for ideas and suggestions regarding the future of X. How will you go about that? Will you revive? Will you innovate and introduce a new product in the same line? This is your chance to prove yourself at your first assignment in the company. Draw up a marketing plan for X.
There are three phases in this project
I. Generate a Research Proposal
II. Collect and Analysis Data
III. Formulate a Marketing Plan and Present a Report