PROJECT QUESTION You are required to develop a new prodact and prepare its marketing plan that will support that product in the Fijian marketplase. It can be an existing prodact in the marketplace that needs modifications to the product or yoa can develop a completely new product that hasa't been introdaced in the Fiji market as yet. You will be required to present your prodact and the marketing plan. Objective of this Assignmeat: The purpose of this assignment is to develop the initiative for students to design a product and marketing report. One of the leaming cencomes for this course is for students to be able to develop a marketing plan and present their plans. In addition to that, this assignment will help expose students to develop entrepreneurship skills and so to secure the ability to market their prodacts. Students are to apply their hnowledge leamt during lectures and tutorial to help them prepare the marketing report. Requiremeats (1-s): The main body which is the Findings and Analysis your marketing plan must comprise of the following details 1. Product Marketing Objectives List dowa your products marketing objectives such as toc (launch the product, increase volume, expand market share, maximize revenue and sales, etc.). 2. 4P s of Marketing: - Product-Detail the Product Development and the Product Deseription in terms of brand name, features, product benefits, ingredients, packaging (sires, nutritional value etc.), labelling, Colour, - is your prodact classified as a safe product for the cuvironnsent? - Promotion - Detail your products advertising and marketing promotional strategies that can be executed. You will also need to include the pooduct launch details should include advertising, sales promotion, public relations, and personal selling. - Price - Provide a clear description on the pricing strategy that can be utilized for your product - should include List prioe, discounts, allowances, payment period, and credit tembs. - Place - Discuss the stratezy used for your peoduct distribution, Direct or in-direct distribution (channel intermediaries); distributing to wholesalers, direct selling to customers, coverage, logistics, locations, transportation, assortments, and imventory. 3. Customer Analysis Identify the target markets, discuss in detail the bases for market segnsentation, target markets, positioning your pooduct and alse detail on what basis the particular segment was selected. 4. Competitor Analysis You will be required to also conduct brief competitor amalysis (competitor market share); if you feel there are direct competitors and In-direct competitors, marketing strategies, promotional techniques used. 5. Micro aed Macro Eevirenment Analysis of your Product Discuss the inpact of the envirommental factors on your prodact and what actions you will take to overcome the influences. 6. $W0T Analysis Conduct a SWOT Amalysis of your product. 7. Market Researeh Discuss the market research your group conducted in order to come up with this product concept. In addition to this what market research needs to be camied out before the prodact can be introduced inso the marketplace? 6. Colssumer Behavior You are required to briefly analyse your consumer groups and inoorporate elements such as: cultural, social, personal factors that will affect a consumer's decision to purchase your product. 7. Financial Analysis: MS Exeel Your group is required to prepare: - Advertising \& Promotions badget that will show the costing of advertising and promoting your product: half year bodget. You will need to research how moch Primt and TV advertisememts cost and also the cost of prousotional materials (beochures/posters/banners) required. - Sales \& Revenue forecast for your pooduct for a period of 3 years. (Number of units prodaced x unit price of product) and then forecast your sales revenue. 8. Implementation, Control \& Evaluation (Marketing and Product derelopment) Provide details of control and inplensentation mechanisms to chsure that your prodact is of top quality, priced affordably, and that the marketing campaigns are appeopriate. Steps to Fallew: - You are required to research and understady the marketplace for prodacts already available and prodacts that requires adjustments and modifications and what new products can be introduced in the marketplace. - Conduct secondary research: visit companies; speak to consunsers, online research, wese textbooks, stady articles. - Design your product Product Presentation: 5% You shall be required to present your poject in class session. Presentations shall be presented wing Microsoft power point. Yeu are alse required to present your product in class. This presentation is compulsory for all students. PROJECT WRTTE-UP GUIDELLINES: The project write up should include the followines? L. Cover Page - Name, ID Tutorial Day \& Time ii. Title Page iii. Acknowledgement Iv. Statemeat of Declaration v. Table of Centeats 1.0 Introduction Introduce the topic. Discwes briefly what you would be discussing in the main body or analysis. He-1 page only 20 Aims/ Objectives List dowa the aim and objectives for this project 3.1. Literature Review (2.5 page) In the literature review section stadents need to read a wide range of material on the topic from textbooks, journals, articles, media, organizational or national reports exc. The In-text referencing or citing sources of information is especially pertinent here. Acknowledge all sources within the body. Here, stadents need to state what is reflected in their research through their readings from the various sources (example: textbooks, journal articles, online sources, etc.). The literature should be centered and based on the CONCEPTS mentioned in the REQUIREMENTS section above (1-8). 4.0 Methodology In this section stadents meed to say how they collected information for their project. The secondary sources could inclade previous research reports, newspaper, magazine and journal content, and company information statistics; Company brochures or website ctc, and to write up the section on findings, stadents could employ secondary research and also primary research resources. The most common primary research resources are: social surveys (questionnaire surveys \& interviews: informal or stractured) and participant observation. 5. Analysis'Findings This is the body of the peoject. You are required to answer all the questions as per the subbeadings mentioned in the REQLIREMENTS section above (1-\$) (APPLICATION TO YOUR PRODLCT). 6. Recommendations Your recommendations should be related to the topic related to Implementation, Control and Evaluation and what points yoa may reconsmend to further impereve your product. 7.0 Conclusions A conclusion draws together and summarizes the ideas and findings presented in the body. 8. Bibliography' References Use the Harvard style of referencing (from the Moodle). Include all references cited in your analysis. Please note that the source of all infonmation and ideas that are not your own should be acknowledged using standard conventions on referencing. Make sure you do not forget to sign the Plagiarism Statement by declaring that the individual project is your owa piece of work and that all sources have been daly acknowledged. - Project must be legible and written in peoper English. This means that it must be peoof read, spell checked and conrected before submission. Your project must be typed on one side of the page only and make sure that your references are properly cited, if you have used other materials to support your answer. - Marks will be deducted for poor English, spelling. granmar cte. - Ensure to follow the guidelines mentioned as failure bo do so will be detrimental in terms of grading for this assignment