Assignment: New Product Paper
Paper
The first part of the assignment will be to investigate background information used to provide input into the future of a brand. Brands are not created in a vacuum -- they are themselves a "product" of consumers' values, needs and wants. Your task is to understand the brand's background then to create marketing promotions for a new product that will be introduced in 5 to 10 years. This new product should not be something the company is already focusing on but something completely new and innovative. You will also have to think into the future as to what needs the product fulfill. You will have to look at the past marketing promotion campaigns used by the brand and decide where the new campaign will go in the future. What will be the target market in 5 to 10 years and what needs and wants will the product provide. You will be asked to provide a campaign for the future product focusing on how to communicate to the target market by using advertising, promotions (sale/trade), point of purchase etc. This campaign should consist of at least 1 (or 2) print ads and 2(or 1) other types of promotions (social media, television, radio, sales promotion etc).
Your job is to create some new and fresh promotions for the new product created by your group. A 5 page double-spaced typewritten summary of the 3 promotions along with the actual print ads will be turned. You can use up to 2 print ads as 2 different promotions but the 3rd has to be another type of promotion. All print ads much be included as appendixes to your paper. This paper should address the new product and what is unique about the promotions, what the promotions are and what the goal of each promotion is (i.e. brand awareness, purchase behavior, sales, etc.). Use the 5 pages to describe each promotion. What it is, why your chose that media and vehicle, what are the goals etc.
Note:
I would prefer that you not choose to a brand that has little history (i.e. newer companies) unless it's a brand that is very unique and/or has made a significant mark on popular culture. I reserve the right to ask you to change a topic if I don't feel it's appropriate, if I anticipate you will have trouble completing the assignment, etc. It is much harder to find a history of a newer product.
If possible your group should choose a topic that allows you to locate adequate background information. Preferably, you should be able to locate one or more people who have experienced the topic. You will have until Sept 7, 2016 to form a group (4 students to a group) and select a topic.
Some things to consider when investigating the brand and new product.
I. Background and Historical Overview
How did the product come into being?
Who was responsible for its development?
What needs and value conditions gave rise to the product? What was going on in the world at that time that facilitated or impeded its introduction?
II. Marketing Issues
To whom (i.e., what market segment) was the product targeted?
Who actually used the product?
What was the primary competition?
How was the product marketed (e.g., print ads, demos, concert tours)
How successful was the marketing campaign - why?
III. Forward Thinking
Using class concepts.....
What meaning will the product have for consumers in 5 years?
How will this product look and change in 5 years to meet new needs?
Who will use the product? (target market)
What underlying needs will the product satisfy (or try to)?
How will this product be marketed/promoted?
For the two ads,Focus writing on the different features of the range finder and how it will help our target market improve their golf game by giving them precise and personalized readings.
You have the pictures and talk about the different magazines you might see them in such as Forbes and sports illustrated. You can talk about the different benefits and features the range finder has that will help our target market.
Our target market is golfers specifically middle aged men who can afford the Range Finder since they are expensive.
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:- OUR-PRODUCT.rar