Assignment: Marketing Plan for New Product
Your group will open a new business in Yanbu. The business is to introduce a product. The project has an open budget. You are required to produce a marketing plan which will be presented to the top management for buy-off. The marketing plan is to adhere to the structure provided below. You are conduct a research towards a feasible marketing plan. The plan must be supported by research evidences and acknowledged with proper referencing (APA style, 6th edition).
A. Executive Summary
• The executive summary is an abstract that gives a broad picture of the contents of the report.
• It should not start off by "In this report you are going to...." This summary should be one page.
• It should summarize the report to the extent that if this is the only page the reader reads, he/she will know what is in the full report.
B. Company Overview & Innovative Product
• In this section you will describe your business and the product you intend to market.
o How did your group come out with the innovative product?
o Why did you choose this product?
o Why do you think your product would appeal to customers?
C. The Environment
• Describe the probably micro and macro environmental forces that may affect the successful launch of your new product.
D. The Research
• Research objectives
• Data collection
• Data analyses
• Findings
E. Market Segmentation, Targeting and Positioning Strategy
• Identify the appropriate segments for your product
• Give reasons why you choose to target a particular segment/s.
• What are your positioning strategies?
F. Product Strategy
• Product attributes
• Branding
• Packaging
• Labeling
• Product support services
G. Promotion Strategy
• Describe the promotional strategies chosen for your product. State the reasons.
H. Pricing Strategy
• Describe the pricing strategies adopted. State the reasons.
I. Place strategy
• Describe how and where the product will be placed to gain consumer purchases
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also include a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also Include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.
Attachment:- Marketing-Plan-Template.rar