Reference no: EM131446013 , Length: 20

Group Project - New Product Offering Marketing Plan

The goal of your team is to develop a new product, service, or idea which is targeted toward a specific market(s) for an existing or new company. The product cannot currently be on the market. The product offering selected for development must be legal and it should be possible to introduce the product within the next year (i.e., the technology must be feasible).

The assignment has a written component as well as an oral presentation, each of which is described below. When you have completed the assignment, you will have identified a product, service, or idea, and analyzed the selected target market and external environment. In addition, you will provide complete details on the marketing mix for the product, service, or idea chosen by your group as well as spelling out your ideas relative to product management over the offering's product life cycle. Please refer to the text for an example of a marketing plan.

You will be assigned to a group consisting of 3-4 students. Please check Blackboard Groups for assignments. The grades on these project activities will be based on both content and writing ability.

Project Guidelines:

1. Each written report must be typed, grammatically correct and free from spelling errors.

2. Treat this as a professional assignment (i.e., use marketing jargon correctly, use a "business-like" writing style, dress professionally, etc.)

3. Assume the individuals reviewing your marketing plans have a limited knowledge of marketing strategy development.

4. You will be required to submit peer evaluations for every member of your team on the day of your presentation. Students consistently ranked below average by fellow teammates will be penalized at least one letter grade on the project.

5. You will need to use library research to complete this assignment. You might also consider doing some primary research to provide evidence of the depth and breadth of this opportunity. Make sure that you correctly cite your sources and include a bibliography at the end of the report.

6. Consult your instructor if you have any questions.

Specifically, this final report should include but not limited to the following:

1. an executive summary,

2. a complete description of the unmet need your product fulfills,

3. a description of the target market and the segment(s) you are going after, including a preliminary market forecast,

4. a description of the external environmental factors and their predicted impact on your offering with particular attention to the competition,

5. a concise description of each of the elements of the marketing mix, and

6. a conclusion which describes the changes you will have to make as your product offering moves through the product life cycle, and

7. bibliography and appendices.

Attachment:- Assignment Files.rar