This assessment requires you to work as part of a group (3-4 members) and design a marketing strategy for an emerging technology. You can either use an ePortfolio (Blogger) or a Webpage (Google Sites) as a medium for developing and showcasing the marketing strategy.
The marketing strategy should include the following information:
1. Product or Company Information/ Unique Selling Proposition (USP)
Give a detailed information on the new emerging technology and its unique selling proposition (USP). This should be supported by relevant research.
2. Target Customers:
Who are your targeted customers and their demographic profile (e.g., age, gender), psychographic profile (e.g., their interests)
3. Pricing & Positioning Strategy:
In this section of your marketing plan, detail the positioning you desire in the market and how your pricing will support it.
4. Distribution Plan
Your distribution plan details how customers will buy from you.
5. Your Offers:
Offers are special deals you put together to secure more new customers and drive past customers back to you. E.g. free trials, money-back guarantees, discount offers.
6. Marketing Materials:
Describe the marketing material that you will use- e.g. your website, print brochures, media kit, business cards, and catalogues.
7. Marketing & Promotions Strategy
In this section consider the numerous promotional tactics (such as television ads, trade show marketing, press releases, online advertising, and event marketing) and decide which ones will most effectively allow you to reach your target customers.
8. Joint Ventures & Partnerships
Research companies that can be ideal for joint ventures and partnerships for your emerging technology e.g. automotive companies, electronics shops.
9. Financial Projections
The final part of your marketing plan is to create financial projections. In your projections, include all the information documented in your marketing plan. E.g. promotional and marketing expenses.