MARK1035 Marketing Essentials I

Term Project

Due - Week 14

This project can be completed individually or in groups of 2.

In marketing class, there have been discussions of the value proposition, understanding the marketing environment, awareness of social ethical responsibility as well as the concepts of SWOT analysis, segmentation and targeting and positioning.

Imagine you are a skilled marketer whose job is to introduce a new/modified version of an existing product or service (therefore you need to choose an existing product/service, then you have to either modify the product or service, or introduce a new version of the product or service). You can also introduce a totally new product/service or idea.

You need to start preparing a marketing plan for your new/modified product/service by providing the below information.

Make sure to be as clear as possible in expressing your ideas.

Term Paper Suggested Structure (Total = 40 pts)

Product: Name your product (New or modified version) (3pts)

Chapter 1: Include a description, its function, its features, its value proposition (6pts)

Chapter 2: SWOT Analysis (8pts) Strengths, weaknesses, opportunities and threats with respect to the competitors

Chapter 3: Microenvironment and Macroenvironments (8pts) Discuss on 2 micro and 2 macro factors

Chapter 6: Segmentation/Targeting /Positioning (10pts) a. How will you segment the market. (4pts)

b. From the segments that you defined, which group will you target and why. (4pts)

c. How will you position your product/service. (4pts)

Hint:

• Consider the demographics/Psychographics/Behavioral (age, education, gender and income, lifestyle, personality of the target market)
  • Who makes the decisions regarding this product
  • Who does the actual purchasing of this product
• Consider also trends and preferences for that demographic group (eg. Preferences in terms of how to purchase, how to access product information, etc.)
• How will you position this product

Chapter 7& 8 : Building Customer Value/Additional Product and Service considerations (5 pts)

• How will you build customer value.
• Which new product development strategy have you considered for your product/service.

How to complete the project:

1. You can use the template provided to complete your project. You can submit a PowerPoint presentation, answer the questions in a form of infographics, upload a video or an audio file... whatever you do just please make sure that you answer every question and that you indicate which question you are answering.
2. Uploaded to Blackboard on the due date (week 14)
3. Late projects will not be accepted unless they are accompanied with a legitimate excuse and the proper documentation. A late penalty of 5% per day including weekends will be implemented if the excuse is accepted.