Marketing management
marketing
Description
Project
The project is designed to take you through the entire exercise of Marketing
Management. Each group has to form a new company or to plan for a new
product/product line of an existing company. Your project should have the following
sections:
(I) COMPANY PURPOSE
What is the basic product that your company will offer to the consumer market?
(II) REASONS FOR CHOOSING THE PARTICULAR INDUSTRY AND PRODUCT
In this section you should provide
(a) industry background,
(b) description of the competition, and
(c) unfulfilled consumer needs which give you an opportunity to enter the
market (you can provide support for this through perceptual maps of the
industry)
(d) results of the customer survey
(III) LIFE CYCLES
Current stage of the industry in its life cycle. Current stage of competitors'
products in their respective life cycles.
(IV) PRODUCT CHARACTERISTICS
Characteristics of the product introduced by your company (Brand name,
packaging, etc.).
(V) POSITIONING OF YOUR PRODUCT
Perceptual map of the industry after the introduction of your product. This will
help you to identify your closest competitors.
(VI) PRICE STRATEGIES
Introductory price and proposed pricing strategies over your product's life cycle.
You should make sure that your pricing strategy is consistent with your product
characteristics, positioning strategy, your costs, and your profit goals.
(VII) CHANNELS AND DISTRIBUTION STRATEGY
You should discuss how you would develop appropriate channels of distribution.
(VIII) COMMUNICATIONS STRATEGY
(a) Advertising
Discuss appropriate media, media vehicles, timing, frequency, etc.
(b) Promotion
Discuss the types of dealer and consumer promotions that you would
adopt at various stages of the product's life cycle, the budget for
promotions and the importance you would give to promotions in your
overall marketing strategy.
(c) Publicity
Describe some publicity campaigns which you could use for your product
and indicate whether you would use publicity.
