You want to either create a product or service that doesn't exist (for example, a refrigerator robot or new phone) or you can use a new product or service that has just recently been launched. It is fine if you want to launch a new product or service for a company that you operate or are planning to start, for an organization for which you work, or for a nonprofit. (It is fine to create a marketing plan of the company you currently work for but keep in mind that you do not want to use any of the materials if the firm already has a marketing plan.)
Take great care in the choice of your product or service because this product or service will be the basis of the course project for the rest of the course.
For this PART ONE (Part I) of the project you want to complete the product-service identification. Provide substantial details about the product characteristics, features, and benefits.
Sample Outline of the Marketing Plan (Part I):
1. Product-Service Identification
1.1 Brief description of the Company
1.2 Organization structure
1.3 The product being offered and its benefits (no features)
2. Situation Analysis - (this is the section heading, which includes an introductory paragraph, please answer the following questions: What problems your product or service will solve, and are they any emotional triggers related to your product or service? )
2.1 Market Summary
2.2 SWOT Analysis
2.3Direct and Indirect Competition
Sample Outline of the Marketing Plan (Part II):
3. Marketing Strategy
3.1 Mission
3.2 Marketing Objectives
3.3 Financial Objectives
3.4 Target Markets
3.5 Positioning
3.6 Marketing Program
- Pricing
- Distribution
- Promotion
- Customer service
3.7 Marketing Research