Organize your plan according to the format of the sample plan outline,
The purpose of this project is to think critically about the planning of a launch of a new or improved product. You will work in groups of 3-5 students to develop a short version of a typical market plan for a consumer product.
The first thing you will do is select a product to evaluate. It must be physical/tangible (no services). You can pick ANY commodity product you see in a supermarket (such as food, beverage, household or male/female and personal or regular hygiene products) or retail store (clothing, electronics, etc). When picking the product, you don’t want it to be too big (for example, Coke could be narrowed down to Diet Coke) and all products MUST be US based (have a manufacturing division in the US) and also do not select a company, service or a generic product in a store.
All types of products have Marketing Plans. We will be doing a short version of the Marketing Plan including the strategies, objectives and goals, the 4 P’s, marketing research, forecasts, implementation and controls. Be creative and think outside the box. Any over the counter products are ok, BUT try to use a product that most people (as consumers) are familiar with.
We are choosing “Colgate toothpaste with activated charcoal”
4. Overall Marketing Strategy
5. Marketing and Financial Objectives
6. Target Markets
7. Positioning
8. Marketing Strategies
9. Marketing Program
Pricing
Distribution
Promotion
Customer service
Product (already done earlier)
10. Marketing Research
11. Controls and Implementation
12. Budget
· Prepare the plan’s cover page and a Table of Contents,
· Prepare the Marketing Plan’s Executive Summary (maximum one page),
· Organize your plan according to the format of the sample plan outline,
· Place the cover page and Table of Contents (with page numbers) before the Executive Summary.
8 pages need to be submitted on Tuesday morning
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