Reference no: EM131418141

Assignment

Your Group/Product Management Team has just been informed by Senior Managementat your companythat it must grow the business. In order to do this, your company has set aside funding for the team that comes up with thebest 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.

• 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
New Concept Rationale
Extension/Modification, Category, Diffusion, Life Cycle, Positioning Map
New Product Mix
Brand Fit and New Product Mix matrix and Concept Competitive Advantage Packaging, branding and labeling (requirements/functions)
New Concept Price
Pricing Objective, Strategy, Tactics and Methods, Demand Analysis(elasticity/equilibrium)
New Concept Distribution
Market Coverage, Supply Chain, Intensity,  ChannelIntermediaries& Functions
New Concept Overall Communications Process
Goals and Tasks, AIDA Stage and Plan
New Concept Sales Plan
Sales Strategy, Proposed Push / Pull Strategy
New Concept Advertising Plan
Objectives, Advertising Type(s), Media Type(s)/Rationale, Product Attributes and Benefits and Tagline
New Concept Promotions and Public Relations Plan
Objectives, Sales Promotions Plan and Trade Promotions Plan
New Public Relations Plans and SocialStrategies
Define PR &SponsorshipsPlans  and Social Objectives and Implementation Plans