Marketing management

marketing

Description

Project

The project is designed to take you through the entire exercise of Marketing

Management. Each group has to form a new company or to plan for a new

product/product line of an existing company. Your project should have the following

sections:

(I) COMPANY PURPOSE

What is the basic product that your company will offer to the consumer market?

(II) REASONS FOR CHOOSING THE PARTICULAR INDUSTRY AND PRODUCT

In this section you should provide

(a) industry background,

(b) description of the competition, and

(c) unfulfilled consumer needs which give you an opportunity to enter the

market (you can provide support for this through perceptual maps of the

industry)

(d) results of the customer survey

(III) LIFE CYCLES

Current stage of the industry in its life cycle. Current stage of competitors'

products in their respective life cycles.

(IV) PRODUCT CHARACTERISTICS

Characteristics of the product introduced by your company (Brand name,

packaging, etc.).

(V) POSITIONING OF YOUR PRODUCT

Perceptual map of the industry after the introduction of your product. This will

help you to identify your closest competitors.

(VI) PRICE STRATEGIES

Introductory price and proposed pricing strategies over your product's life cycle.

You should make sure that your pricing strategy is consistent with your product

characteristics, positioning strategy, your costs, and your profit goals.

(VII) CHANNELS AND DISTRIBUTION STRATEGY


You should discuss how you would develop appropriate channels of distribution.

(VIII) COMMUNICATIONS STRATEGY

(a) Advertising

Discuss appropriate media, media vehicles, timing, frequency, etc.

(b) Promotion

Discuss the types of dealer and consumer promotions that you would

adopt at various stages of the product's life cycle, the budget for

promotions and the importance you would give to promotions in your

overall marketing strategy.

(c) Publicity

Describe some publicity campaigns which you could use for your product

and indicate whether you would use publicity.


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