Describe the industry, market, and any trends. (1 mark)
Describe the new product or service line and the classification the product or service will fit into. Remember, the product or service line must be new to the company! (2 marks)
Which segmentation strategy best describes the target customer? (2 marks)
Describe pricing, distribution, and promotional strategies for your new product or service line. (3 marks)
Positioning and Differentiation (4 marks)
Describe 2 competitors for the new product or service line that you proposed for your selected company. (2 marks)
Identify how the company’s new product or service line will be differentiated and positioned relative to the competition. (2 marks)
Situational Analysis and Business Environment (4 marks)
Select 1 business analytical tool (e.g., PESTEL, SWOT, or Porter’s 5 Forces) and use it to describe the business environment for the company’s new product or service line that you proposed.
Marketing Objectives (4 marks)
Explain how the new product or service line aligns with the company’s vision and mission statements. (2 marks)
Create 2 marketing objectives for your new product or service line. The marketing objectives should be written using the SMART goal formula.
(2 marks)
Controls and Measurement (4 marks)
Describe 4 key performance indicators (KPIs) that the company should use to evaluate the performance of your marketing investment.
