For Part 1: In 3 to 4 pages Select a new product or service that will be launched by either an existing or

For Part 1: In 3 to 4 pages

Select a new product or service that will be launched by either an existing organization or one you will create.   I prefer that you find a new product or service to an existing firm –

This product or service will serve as the basis for the Marketing Plan you will write throughout the course.

**Obtain your instructor's approval of your product or service before beginning this project.

PROJECT PART 1 WEEK 2 (Refer to Chapters 1 & 2)

Introduction – :

• Describe the organization's background, industry, and product or service.

• Describe the NEW product or service you are proposing (don't get into a lot of detail of the product or service - this will be in later part).

Describe the importance this product or service has to the organization.

• Prepare the SWOT analysis of the organization and offering.

• Explain a competitive analysis of the organization and offering.

• Describe your target market in detail, including information on the geographic, demographic, psychographic and behavioral factors used to choose your market segment.

• Identify the needs that cause your target market to buy.

• Create a written positioning statement that identifies:

• Your organization's product/service

• Your target market – Needs that cause your target market to buy including emotional and

logical drivers – How your product solves the target market's needs

• What makes your organization different from its competition

Include sources of secondary research that support your analysis