Marketing project, Project Management

Assignment Help:

Step 1 Advise the instructor in writing if you will be working on the project individually or with another class member(s). Choose your team member (s),carefully, as you will have to work together outside of class on this project.

Step 2 The project steps will be presented in class,(or written online), one  week after the related text topic is covered. Oral presentations for each step(s), should average 10 minutes if in class, and  in email/paper form if not attending class. The final written paper and oral executive summary  presentation (30 minutes), is due at the last class, and may incorporate changes made from the earlier sections. If not attending class for final presentation, a video-taped, or podcast audio/video presentation is required to be submitted prior to the final class.

PRODUCT

Step 3 Decide on a product-market, (SERVICES  NOT  TO  BE  USED), using brainstorming or customer suggestions. You  may invent a new product idea, or come up with a variation of a product already on the market. Be sure to keep customer needs in mind. Explain how you arrived at your decision. Also, draw up a hypothetical positioning map to plot the two most basic needs and competitive positions. You or your project partner may "work for" your own entrepreneurial company, or an already existing company in the marketplace.

Step 4 Use the process of market segmentation to determine your best target market and its characteristics. Describe your target market's geographic, demographic, and psychographic categories and characteristics.

Step 5 Determine the best means of data acquisition to research qualities desired by your target market. Assume primary data collection is necessary. Supply a sample survey.

Step 6 Describe the product by detailing its multi-dimensional aspects as follows:

A) Describe in detail the physical and functional characteristics of your product. Ingredients? Describe the appearance, (color,texture, etc). What will the product do? Unique selling proposition?

B) Select a brand name  for your product.

C) Design a package for your product. Attractive?Convenient? Safe? Environmentally-friendly?

D) Design a label, including legally required, and optional information.

E) Economic, social, legal, environmental problems or benefits this product might pose?

F) Explore the possibility of attaching a symbol, or symbolic quality to your product.

G) Will you have an expressed warranty or service? If so, what will it be?

Step 7 Determine which stage of the product life cycle this product is in to determine further marketing strategies. Summarize general characteristics of this stage.

PLACE

Step 8 Diagram a workable distribution channel, including specific type of wholesalers or intermediaries (if there are any). Base your determination on where your target market is likely to buy, and what the best way is for the product to reach that point of distribution.

Step 9 Indicate whether distribution will be intensive, exclusive or selective. Explain why. Consider whether your product will be considered a convenience, shopping or specialty good.

Step 10 Determine which mode of physical distribution will be used to transport the product. Use a map to show the area of distribution.

Step 11 Explain which link(s) of the channel will deal with storage and how. Describe the supply chain process for your product.

Step 12  Describe the type(s) of retail stores, or non-retail methods through which this product could best be distributed. Explain why.

PRICE

Step 13 Describe a pricing objective for this product and explain the rationale.

Step 14 Select an appropriate pricing strategy and tactics.

Step 15  Diagram a mark-up chain. Analyze your fixed and variable costs and complete a break-even analysis.

Step 16 Investigate the target market's evaluation of price and its ability to purchase. Use your findings to determine whether demand is elastic or inelastic for this product.

Step 17 Investigate your competitor's prices. Set an actual price.

PROMOTION

Step 18 Indicate whether your promotion will be used to inform, persuade or remind. Explain why. Decide whether a push or pull will work better to recruit middlemen/intermediaries. Explain why.

Step 19 Draw a pie chart indicating how you will divide your company's promotion budget among personal selling, advertising, publicity/public relations, direct / online marketing, and social media. Indicate percentages and rationale.

Step 20 Design an integrated communications program, choosing two or three media, (with at least one social media technique/tool), which are most appropriate for target market. Specify types of publications, programs sponsored, on-line methods and locations.

Step 21 Create a sales promotion or social media  idea that might also bring your product and company some publicity. Explain details of the promotion and why you think it will stir up some publicity or be "news-worthy".

Step 22 Create a sample ad either through magazine, newspaper, direct mail brochures, billboards or on-line websites. Television and radio commercials should include scripts. Tape your commercials or act it out in your presentation.


Related Discussions:- Marketing project

Concept of project risk audit , Define the Concept of Project Risk Audit  ...

Define the Concept of Project Risk Audit  Audit can be defined as an evaluation of a person, organisation, system, process, enterprise, project or product. Quality risk audit i

Develop a integrated management project, You are not expected to submit a f...

You are not expected to submit a formal proposal. However, you will be able to access Subject Tutors via HenleyConnect and you may seek feedback from them as to the suitability and

Why do i need project management, Q. Why do I need project management? ...

Q. Why do I need project management? One more way of asking this question is What if I do not bother with project management? The reality is all projects demand some extent of

What level of project management do i need, Q. What level of project manage...

Q. What level of project management do I need? A. This is a complicated question to answer for the reason that it very much depends on the size duration and technical complex

Project management requires three important activities, Question (a) Pr...

Question (a) Project Management requires three important activities, namely planning, estimation and scheduling. Discuss the differences between them. (b) Scheduling of proj

What is the use of critical path analysis as a tool, What is the use of cri...

What is the use of critical path analysis as a tool? The use of critical path analysis as a tool: a. It is good visual communication and planning tool for effectual time man

Advantages of three dimensional models, Advantages of Three Dimensional Mod...

Advantages of Three Dimensional Models Layouts made of models are easier to understand by laymen. It is easy to explain to the management. Models can be shifted eas

Components of supply chain management, Components of Supply Chain Managemen...

Components of Supply Chain Management Today, it is the basic requirement amongst customers that businesses produce defect-free products to the customer faster and be more consi

Explain the tool of total quality improvement, Question: As the Managin...

Question: As the Managing Director of your organization, you have been analyzing other institutions that you regard as competitors. Extrapolating your current position up to t

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd