michael smith only
Assignment
Your Group/Product Management Team has just been informed by Senior Management at your company that it must grow the business. In order to do this, your company has set aside funding for the team that comes up with the best new product concept, line extension or modification. You have been given 6 weeks to develop a new product concept and the initial marketing plan. You are scheduled to present to the Senior Management Team!
Requirements
The assignment is to develop a new product concept and create and deliver a high level marketing plan/presentation to support your idea. Your presentation should demonstrate your team’s knowledge of the both the product its market potential and how it fits within the overall strategy of the organization. The assignment is worth 150 points.
You must create and deliver a presentation a maximum of 25 minutes in length, followed by a brief questions and answer period. (All information you wish to have evaluated should be included in the presentation or within the notes section of the slides you submit.)
| New Concept Product | |
| Target Segment, Type, Involvement, Influences, Buyer Behavior |
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| New Concept Rationale | |
| Extension/Modification, Category, Diffusion, Life Cycle, Positioning Map |
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| New Product Mix | |
| Brand Fit and New Product Mix matrix and Concept Competitive Advantage Packaging, branding and labeling (requirements/functions) |
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| New Concept Price | |
| Pricing Objective, Strategy, Tactics and Methods, Demand Analysis (elasticity/equilibrium) |
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| New Concept Distribution | |
| Market Coverage, Supply Chain, Intensity, Channel Intermediaries & Functions |
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| New Concept Overall Communications Process | |
| Goals and Tasks, AIDA Stage and Plan |
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| New Concept Sales Plan | |
| Sales Strategy, Proposed Push / Pull Strategy |
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| New Concept Advertising Plan | |
| Objectives, Advertising Type(s), Media Type(s)/Rationale, Product Attributes and Benefits and Tagline |
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| New Concept Promotions and Public Relations Plan | |
| Objectives, Sales Promotions Plan and Trade Promotions Plan |
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| New Public Relations Plans and Social Strategies | |
| Define PR & Sponsorships Plans and Social Objectives and Implementation Plans |
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