Semester-Long Marketing Plan Project (40%=40 marks)
An effective way to help students learn about marketing management is through the actual creation of a marketing plan for a product or service. This project is designed to accomplish such a task.
Dividing the class into groups (4 students in one group), have each group decide on a consumer product or service they wish to bring to market. It can be an existing product/service or they can create a new product/service.
During the course of the semester, each of the elements of the marketing plan, coordinating with the text chapter, will be due for the lecturer’s review. The lecturer is encouraged to review each submission and suggest areas for improvement, for more detailed study, or if acceptable to allow the students to proceed to the next phase in development. At the end of the semester, each group is to present their entire marketing plan to the class.
Group assignment needs to be done by following some requirements:
- All the academic papers that are used in the assignment need to be on BB by using File Exchange tool (Instruction in page 7, for further question, please advise your lecturer)
- All the discussion about group assignment needs to be recorded by using Group Discussion tools (Instruction in page 8, for further question, please advise your lecturer)
Brand Positioning and Brand Equity
For the report: Students need to provide all of this information below:
- Identify the product or service they want to select. It can be an existing product/service or they can create a new product/service.
- Competitive information
- Environmental scanning.
- Demand forecasted
- Specific market segmentation, targeting, and positioning statements
For the presentation:
- No more than 10 slides. All the main information of the report needs to be addressed in the slides.
Integrated marketing channels and distribution system
In week 9, students need to submit a report indicates:
- Product or service’s brand positioning
- Who are the market leaders for their chosen product or service? What niche have they identified for their product/service? Is their product or service going to be a leader, follower, or challenger to well-established products or brands?
- Consumer-adoption process for their new product. How will the consumer learn about their new product and how quickly will they adopt it? Will the product be targeted to the heavy users and early adopters first, then early and late majorities? What is their estimated time for full adoption?
- Pricing strategy decisions for their product/service. Students have addressed all or most of the material concerning pricing covered in week 8.
- Students should be directed to turn in their retailing, wholesaling, and logistical marketing plans. Those students who are acting in the role of providing a new “service” should include here their plans for locations, hours of operations, and how their “service” plans on managing demand and capacity issues.
Integrated Marketing Communications – Part 2
Managing Mass Communications
The report analysis:
- The integrated marketing communications matrix.
- All the possible communication media (for example, students will tend to concentrate their media on television or on the Internet and include other forms such as personal selling and radio).