For this project, you are asked to develop a new product and write a brief marketing plan (8-10 pages, double-spaced, in font size 12, Times New Roman style) for marketing that product. The product has to be new, meaning that it does not yet exist. Use your creativity. Examples from past classes (among others) include a new “Apple iVideo” device similar to the iPhone which creates & edits videos, an internet cafe adjacent to the Emporia campus as a franchise of a national chain, a pet waste pick-up service added for a local pet supplies store, and a new lightweight kayak carrier designed for smaller cars. The outline of the marketing plan is given below: Executive summary (one-page summary of all of the following items)
The Target Market (use secondary data and/or primary data to justify) Identifying characteristics (demographics, geography, values, and other characteristics)
Basic needs, wants, preferences, or requirements Buying habits and preferences Consumption characteristics
Product Strategy Brand name Major features and benefits Differentiation/positioning strategy Supplemental products (including customer service strategy)
Pricing Strategy Overall pricing strategy and pricing objectives Price comparison to competition Specific pricing tactics (discounts, incentives, financing, etc.)
Distribution/Supply Chain Strategy Overall supply chain strategy (including distribution intensity) Channels and intermediaries to be used Connection to differentiation/positioning strategy Strategies to ensure channel support (slotting fees, guarantees, etc.) Tactics designed to increase time, place, and possession utility
Integrated Marketing Communication (Promotion) Strategy Overall IMC strategy, IMC objectives Consumer promotion elements Advertising strategy Public relations/publicity strategy Personal selling strategy Consumer sales promotion (pull) strategy Trade (channel) promotion elements Advertising strategy Public relations/publicity strategy Personal selling strategy Trade sales promotion (push) strategy
