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(Solved) Agree on a product or service that you might want to launch upon graduation. Think carefully about this selection as you will be working with this...


I am suppose to market a product/ service, and I just need some assistance with my idea. I think a gym is a good idea, but do not know how to go about marketing it. Attached is a file about it.

1. Agree on a product or service that you might want to launch upon graduation.
Think carefully about this selection as you will be working with this product/service for
the entire course culminating in a team presentation. There are a number of idea
websites that you might use to help provide a product/service business idea such
as : Springwise | New business ideas, trends and innovation and Entrepreneur.com. You
may choose to emulate a company that is already doing business in the marketplace.
2.
Discuss with one another the personal skills and talents you bring to the team as
you contemplate the work breakdown and roles to get the best results you can for the
project. If you have not worked with recording and sharing video on YouTube you should
make a plan now for who, how and when this will be researched and preparation plans
made in concert with your presentation slides.
3.
One person on the team will submit a word document that captures the team
member’s names and a brief description of the selected product/service business and
submit it here. Comprehensive Project #2 - Segmentation, Targeting and Positioning
This part of your comprehensive project will focus on Segmenting, Targeting and
Positioning.
1.
Provide a detailed description of the consumer segments for your product or
service (i.e. Geographic, Demographic, Psychographic, Benefit, and Usage Rate).
2.
Describe your target market strategy (i.e. Undifferentiated, Concentrated, Buying
Processes) and the rationale for your choice.
3.
Describe how you would position your product in the consumer market (i.e.
Attribute, Price and Quality, Product User, Product Class, Competitor, Emotion). Provide
some rationale for your choice.
Please submit as a Word document here.
Comprehensive Project #3 - Segmenting Business Markets
1. Provide a detailed description of how your product or service will be segmented
in the business market (i.e. Company Characteristics, Buying Processes).
2.
Team Check-in. Select two alternative times the team/group can meet online
with your facilitator in week 7 to discuss progress. Your facilitator will announce the
method of meeting online once you communicate date options.
3.
Review the probable Agenda for Team check-in the Lesson Learning Activity for
this week to help you prepare
Comprehensive Project #4 - Mission and SMART objectives This part of your comprehensive project will focus on the Marketing Plan and setting SMART
Objectives.
Here you will establish the starting elements of the Marketing Plan.
1.
Develop a Business mission statement for your product/service
2.
Develop at least three (3) SMART Marketing objectives
3.
Provide some rationale for your work above.
Please submit as a Word document here. 1.
2.
3.
4. Comprehensive Project #5 - CRM and Competitive Advantage
This part of your comprehensive project will focus on gaining competitive advantage.
Identify the industry which your product/business is part of
What sources of competitive advantage would you recommend for your
product or service (i.e. Cost, Product/Service Differentiation, Niche)?
What will be your approach to Customer Relationship Management? ie how
will you capture and leverage it to support your competitive advantage?
Provide some rationale for your choices.
Please submit as a Word document here. Comprehensive Project #6 - Marketing Environment
This part of your comprehensive project will focus on the external marketing environment.
1.
Provide a brief description of each external marketing environmental factor
(i.e. CREST- Competition, Regulatory, Economic, Social, Technological) and what types of
information you would want relative to each factor (example - Competition - Who are my
competitors?, etc).
2.
Provide some rationale for the points you are making.
3.
You are expected to provide some evidence of secondary market research.
Please list your sources and cite your references.
Please submit as a Word document here. 1.
2.
3.
4. Comprehensive Project #7 - Product Decisions
This part of your comprehensive project will focus on product concepts.
How would you classify your product or service (i.e. Convenience, Shopping,
Specialty or Unsought)?
Provide the rationale for your choice of the above.
Describe the type of packaging and labeling you would use.
Describe the global issues in the branding and packaging of your product or
service.
Please submit as a Word document here. Comprehensive Project #8 - Pricing Decisions
This part of your comprehensive project will focus on pricing decisions.
1. Describe the pricing objective that you would use for your product or service (i.e. ProfitOriented, Sales Oriented, Status Quo).
2. Provide some rationale for your choice.
3. Describe how 3 (your choice) of the determinants of price (i.e. Stages in the Product Life
Cycle, Competition, Distribution Strategy, Internet, etc.) will impact.
Please submit as a Word document here. Comprehensive Project #9 - Promotional Mix
This part of your comprehensive project will focus on promotion decisions.
1. Describe which elements of the promotional mix (i.e. Advertising, Public Relations, Sales
Promotion, Personal Selling) you would choose for your product or service.
2. Provide some rationale for the elements you chose.
Please submit as a Word document here. Comprehensive Project #10 - Distribution Plan
This part of your comprehensive project will focus on distribution decisions.
1. In the consumer market, describe the marketing channels that you would make use of (i.e.
Direct, Retailer, Wholesaler, Agent/Broker).
2. Provide your rationale for the above.
Please submit as a Word document here.

 


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