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)
