RECENT ASSIGNMENT

ASSIGNMENT:
You are responsible for developing a new product (or service)—the target market and the product area are entirely at your discretion. However, experience from previous years strongly suggests that you are the product development team at a well-known company, e.g. Coca Cola or Coles or Cadbury (restrict this to a company that is operating in the same country as you are studying this course). You are to employ the analytical techniques from the course to, for example:

1. Identify the opportunity
2. Analyse the market, possible customers, competitors, market size and other relevant issues
3. Set objectives and strategies
4. Develop three year forecasts
5. Compile the marketing mix
6. Outline how the product’s performance will be measured.

You required to produce a business report (two parts) covering the above items (and others that you think are appropriate) along with a set of recommendations for the launch and management of the product’s marketing over the first three years.The splitting of the report will allow the lecturer to provide further feedback and guidance, over and above what will be provided during tutorials.


Components Comments
Part A
(15%) Introduction

The new product concept


Situational Analysis



Background, purpose and format

Description of the product, what need is being fulfilled, likely target market(s), etc.

PESTEL analysis
What existing products fulfil the need/or what gap exists
Competitor analysis
Market size and growth prospects

Part B
(35%) Marketing Plan Executive Summary
Introduction
Description of the new product
Needs/wants being fulfilled
Description of the target market(s)
Major goals and objectives (launch period and over 3 years)
Value proposition
Recommended major strategies (launch period and over 3 years)—the marketing mix
Financial performance (3 years)
Performance evaluation metrics—financial and non-financial)

Part A will be approximately 2,000 – 2,500 words and Part B will be approximately 3,500– 4,500 words for the Executive Summary and the body of the report.

Need Solutions of Part A only