The project provides you with the opportunity to demonstrate your command of the marketing concepts: Marketing Assignment, CMU, UK

The project provides you with the opportunity to demonstrate your command of the marketing concepts you have studied this semester.

Your assignment is to create a product and explain how you intend to market your product.

Your product can be anything of interest to you. It can be a completely “new” product or it can be a line extension. It can be a good, service, or idea.

Your presentation needs to address Strategic Planning, the 4 Ps of Marketing, and Factors in the Environment:

STRATEGIC PLANNING

• What market research did you conduct?
• Conduct a SWOT analysis? What does it reveal?
• What was your segmentation strategy?
• Who is your target market? Why did you choose this target market?
• What is your positioning strategy?
• What is the consumer buying decision process in this category?

PRODUCT

• What is your product concept? What is the core product? What are its supplemental features? What are its symbolic and experiential benefits?
• What need does your product fulfill?
• Are there any similar products on the market? How is your product different and/or how are you differentiating your product?
• What is your product name? Logo?
• What does your product look like? (Describe your product or create a “comp” or “mockup” of your product)
• What does the perceptual map for your product look like?

PRICE

• What is your price?
• What are your pricing objectives?
• What pricing strategy are your using?

PROMOTION

• How do you plan to promote your product? (Provide a detailed promotional plan. What are your promotion mix variables?)
• How will you ensure that you follow the principles of Integrated Marketing Communications?

PLACE

• Where do you plan to sell/distribute your product?
• Why did you choose this? What are the pros and cons?
• What strategic issues might you face?
• How will you physically distribute the product?

FACTORS IN THE ENVIRONMENT

• Include all the variables in the MKT environment that will affect your marketing strategy.

Answer

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