Marketing Plan Project

Create a “product or service idea your target consumers will perceive as new or different from existing products.”

Title Page: Specify: 1) Product/Service; 2) Generational Target Groups; and 3) Price Point and indicate name of all team members and team number.

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Content (Divide into five (5) separate sections with headings)

Product/Service Concept: Description mentions layers: 1) core; 2) actual; 3) augmented (see Chapter 8).
Type of innovation: Specify type that accurately categorizes your product/service (See Chapter 8).
Name: State name (your team developed) with justification how it supports your product/service concept. For example: Skechers’ GOwalk Arch Fit (Links to an external site.) for women with a justification (See Chapter 9).
Target Market: Description of your given target market – i.e., who is this product or service being sold to? What are the characteristics of the target market? Rely on the target market segmentation variables listed in your text and lessons (see Chapter 6). What is the size of the target market (demographics)? Demographics are NOT enough. Be sure to include psychographics, geographic, and any other pertinent segmentation variables that can be used to describe your target market.
Value Proposition and Competitive Advantage: A value proposition is arguably the most important element of your overall marketing messaging. A value proposition tells prospects why they should do business with you rather than your competitors, and makes the benefits of your products or services crystal clear from the outset (see Chapter 1 and 8). Teams must answer: Why would your target consumers want to buy this product / service? What value-added benefits does your product or service provide over what competitors currently offer (be specific – secondary research is required).
Submission Length: A satisfactory grade requires a minimum of two complete pages of text (single- spaced), not including Title Page or Reference Page. Double-spacing between paragraphs is suggested. Don’t cheat with spacing. Font 10 or 12 Times Roman.

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