- Background assignment 7: For the signature assignment, you must develop a Marketing Plan for a ne ...
- Background assignment 7: For the signature assignment, you must develop a Marketing Plan for a new product launch. You've been hired as the Chief Marketing Officer (CMO) for a fast-growing company launching a new product or service. The CEO has tasked you with creating a New Product Marketing Plan. Select a real company/organization that interests you and identify the new product or service you want to focus on. Consider what you've learned in the course and your instructor's feedback. Be creative with the company and product you focus on but be thorough and detailed when covering the ten assignment descriptions below. Instructions Include the following items in your marketing strategy, presented as a Word document: The Executive Summary – Provide a concise outline of your marketing strategy here. Background – Concisely share your (i) business goals, (ii) marketing goals, (iii) financial goals, and (iv) challenges. Market Analysis – Concisely describe your (i) strengths, (ii) weaknesses, (iii) opportunities, and (iv) threats. Also include a description of (a) the market size, (b) market segments, and (c) any external factors that can impact your market (e.g., economic, seasons, etc.) Target Audience – How many different segments will you target? Describe each segment's demographics, lifestyles, purchasing power, buying patterns, etc. Competitive Analysis – who are the competitors? Innovative Product description Pricing Strategy – select the most appropriate from the two discussed in Assignment 5 (adjusting your content based on instructor feedback). Distribution Strategy – share what you discussed in Assignment 5 (adjusting your content based on instructor feedback). Promotional Strategy (including the message) – share what you discussed in Assignment 5 (adjusting your content based on instructor feedback). Compare your marketing strategy with the strategies of the two competitors you discussed earlier in the course. Evaluate the similarities and differences in their marketing strategy approach with your developed strategy for your innovative product. Use a table to display your findings. Length: No explicit requirement as long as the questions are addressed thoroughly yet concisely. References: Include a minimum of 5 scholarly references. The completed assignment should address all the assignment requirements, exhibit evidence of concept knowledge, and demonstrate thoughtful consideration of the content presented in the course. The writing should integrate scholarly resources, reflect academic expectations and current APA standardsFor this assignment, create a strategy to include marketing innovation sustainability in your organization. As part of a program to encourage sustainability across the company, your CEO has requested you to share with the organization how your new product creates a positive impact. You will be asked to launch a Corporate Social Responsibility (CSR) initiative with your new product. Consider if you would benefit from developing an initiative that positively affects the environment, social practices, or both. -Assignment 8: Explain the Importance of CSR in Marketing Innovation Instructions For this assignment, create a strategy to include marketing innovation sustainability in your organization. You will be asked to launch a CSR initiative with your new product. Consider if you would benefit from developing an industry that positively affects the environment, social practices, or both. Research CSR programs from existing companies and consider a strategy you would like to apply to your company and new product launch. Then, prepare a memorandum for the Vice President of Marketing outlining the new initiative and how it affects your marketing plan. Your memo should be structured as follows: Overview. Provide a 1-2 paragraph overview of the entire memo. This section is best written after you have completed the remainder of the content, similar to an executive summary. Innovative product. Discuss your innovative product, its current promotional strategy, and target market CSR initiative. Introduce your new CSR initiative and how it changes the vision and mission of your company. If it does not change the vision or mission, discuss how it aligns with your company's current vision and mission. Target Market. Discuss how the new CSR initiative changes your target market. If it does not change your target market, discuss how your CSR initiative aligns with and benefits your existing target market. Promotional Strategy. Discuss changes you will make to your promotional strategy to align with your new CSR initiative.
