BOOK: Charles W. Lamb, Joseph F. Hair, Carl McDaniel
MKTG V2
13th Edition
The assignment requires material covered over several weeks, therefore, I trust you were building on it weekly as we explore each topic rather than waiting until the last week. Final Assignment Project Details
Information and Instructions:
Since this is an introduction to the basic concepts of marketing, I am not requiring a traditional Marketing Plan, but an overview and detailed proposal to introduce this new product/service to consumers. Your project must be supported by material from the textbook chapters covered over the semester.
Response to the assignment sections should be fully developed, and incorporate material covered in the course to support your ideas/arguments.
You must include a Title Page.
Your assignment should not be one long, running essay; use headings and paragraphs to distinguish between each question/section of the assignment.
You must cite and reference the Textbook; also include a Reference List at the end of your paper.
Double check spelling and grammar for major issues, and correct before posting.
Check the similarity score generated by Turnitin. If your similarity result is 20%-25% or more, please revise and re-submit.
Please format your essay so that it is easily readable ( for instance, use Times New Roman, size 12 font double spaced). Do not use bold unless it is a heading/title.
Review the writing tips provided in the ‘Getting Started’ section.
Review the following sections in the ‘Getting Started’ tab: ‘About Plagiarism’ and ‘Citations, References, & Turnitin Similarity Scores’ for information on how to correctly cite and reference your sources.
Before submitting the assignment, review the grading criteria for the final assignment (available by week 5).
Content
Think of a new product or service that you would like to offer in the near future to consumers. The product or service you envision may be entirely new or a new product line extension of an existing product on the market. Imagine you are heading the marketing team in charge of the product/service you selected, think creatively, and write your project on how you plan to develop and promote your new product/service. Your project must include the components below:
Abstract/Summary – A paragraph briefly describing the key elements of your paper.
Describe your Target market
Identify and describe your target market (for example: women, ages 25-30) and offer a reasonable justification for selecting this target market; provide solid reasoning. Once you have selected a target market, discuss your projected/expected customer profile should include an explanation of the following characteristics.
Discuss the size of your target market and its possible growth potential.
Discuss the various demographic factors of your target market (age, income, etc.)
Discuss the expected lifestyle(s) of your target market; meaning, what are their their values, activities, hobbies, interests etc.?
Discuss what you think (based on your research) are the typical or preferred technologies/online activities and communication of your target market (for instance: email, texting, twitter, facebook, or other)
Discuss the typical shopping/purchasing patterns of your target market. (for instance: do they prefer online or traditional brick and mortar stores/offices; would they be willing to spend your proposed price on this product or service).
Discuss how often do you think your potential customers buy or will buy this product/service. Is it essential or offers another benefit(s)?
Discuss if applicable, the influence of any cultural considerations and industry trends on the behavior of the customers in your target market.
Product Positioning
Discuss what image you will you attach to your product/service, based on what you know about your target market/customer profile. Provide solid reasoning/rationale based on the material covered in the chapters each week.
Marketing Mix
In this section, provide a specific account of your proposed marketing mix strategy (product/service, promotion, place/distribution, and expected price point) that is ready to implement. Discuss and provide good reasoning for all areas, supported by material covered in the textbook and additional research.
Describe your Product/Service
This section should provide a description of the product/service and specify the features and benefits. Discuss how will your product fit into or match the lifestyle(s) of our target market.
Discuss Place (where your product/service will be offered)
This section should provide details on where consumers may purchase your product/obtain the service (for instance: retail outlets, order online, etc). Discuss also whether you plan on potentially collaborating with an existing or other partner to offer your new product/service.
Discuss how you plan to Promote your new product/service
Explain/outline how you plan to promote your product/service. When discussing your promotion plan make sure to include a variety of promotional methods (for instance: advertisements via television, social media or other online means, magazines, other non-traditional methods etc.) be specific.
Briefly discuss the expected introductory Price of your product/service
Discuss and explain your pricing strategy. Include in this section, any specialty discounts or promotional rates. Provide solid reasoning and rationale, supported by material from the chapters and/or your additional sources.
