MKTG 230: Principles of Marketing

Working together in teams, students will develop a "new to the marketplace" product for a publicly traded U.S. company. The new product should be more sustainable or socially responsible. Each team will develop a marketing plan for their new product, which will include a description of the new product and its pricing strategy, distribution strategy, and promotional strategy (including an advertisement, brochure, and/or website). Teams will present their marketing plans at the end of the semester. Following the outline below, each team will include the following in their marketing plan:

I. Executive Summary

II. Environmental Analysis, including the following:

• The Marketing Environment
• Competitive Forces
• Economic Forces
• Technological Forces
• Sociocultural Forces

​III. Organizational Strategy Information

• SWOT Analysis
• Matching Strengths to Opportunities/Converting Weaknesses and Threats

IV. Marketing Objectives

V. Marketing Strategies, including the following:

• ​Target Market(s)
• Marketing Mix:
• Product/brand strategy
• Pricing strategy
• Distribution strategy
• Marketing Communication Strategy (IMC Strategy)