GROUP PROJECT: ABBREVIATED MARKETING PLAN
The goal of the group project is to provide you with a simulated experience in addressing a real-life marketing problem, i.e. you will be creating an “original” product concept, gaining an understanding of a particular market, deciding which customers to target, and developing the marketing mix required to introduce your product concept. You will develop this project from the perspective of a start-up company that has budgeted $500,000 for its introductory marketing campaign.
The five interim assignments (as well as the final report and presentation) provide integrated, comprehensive coverage of the topics contained in the text. A description of the overall project as well as each assignment is found below. Each assignment is due on the day identified in the course outline and must be submitted electronically as an e-mail attachment. You are expected to present your work in a professional manner and will be graded on content, presentation, grammar, spelling and appearance. Each write-up should be formatted as an executive, memo-style report. They must be typed (APA format: cover sheet, 12 point font, double spaced; inline citations, and reference page. Seehttp://www.psywww.com/resource/apacrib.htm for details) and should include appropriate use of headings and sub-headings. All pages should be numbered.
Interim Assignments: Your group will develop five written briefs (three-six pages in length; plus cover page, bibliography and exhibits) that describe specific elements of your marketing plan and the rationale for choosing them. These are assigned periodically to coincide with our coverage of those topics during the semester, and to enable you to receive feedback prior to your final report and presentation.
Written Final Report and Oral Presentation: Your group will integrate the interim assignments into a single comprehensive final report (not to exceed twenty-five pages; plus bibliography and exhibits). This will serve as the basis for your group’s oral presentation (15 to 20 minutes in length) that highlights your marketing strategy and why you have chosen it.
Assignment #1: Situation Analysis/Utilizing Secondary Sources of Information
(WORTH: 60 points; DUE: Saturday, February 22, 2014
Objectives:
1. To improve your understanding of the nature of product markets.
2. To create an awareness of the competitive climate and general environmental conditions your company would be facing.
3. To familiarize you with the types of secondary data used in marketing research to develop situation analyses.
Exercises:
1. Specify your tentative product concept. This can be a tangible good or an intangible service. (As you progress through the interim assignments you may choose to refine, or possibly change this.)
2. Find the NAICS/SIC code (corresponding to a manufacturing industry, if a tangible good, or retail industry, if an intangible service) that most closely describes your product category. Also list the NAICS/SIC codes related to existing products that are closely related to your new product. Use economic census data from the U.S. Census Bureau and/or other relevant sources to find and report the total sales for the U.S. and number of competitors in those industries. Provide attributions and full citations of all sources of information that you use.[1]
3. Use the on-line Business & Economics databases available through the Towson University Cook Library (e.g., Business Source Complete, Factiva, Lexis-Nexis Academic)and any other relevant databases to search for information related to your product concept. Print the abstract or provide a brief synopsis of any articles that relate to your product concept. Provide attributions and full citations of all sources of information that you use.
4. Based on your determination of an NAICS/SIC code for your new product, use electronic and/or print databases (e.g.,Million Dollar Database, Encyclopedia of Emerging Industries, Encyclopedia of Global Industries, Standard & Poors NetAdvantage, Mergent Online, Wall Street Journal), and/or Internet-based resources to look up information on present (direct or indirect) and potential competitors. (If articles are found and cited, list the title of the article, date and publication in an exhibit titled “References.” Identify the 3-5 firms that you feel will be your most important competitors. Then briefly summarize their product(s), their likely target(s), and overall competitive stance, i.e., discuss their product lines, market share, competitive strengths and weaknesses and speculate on what moves they might make in response to the introduction of your product/service into the market. Provide attributions and full citations of all sources of information that you use.
5. Prepare a partial SWOT analysis, i.e., specify the Opportunities and Threats that your firm faces.
[1] Failure to thoroughly document all sources of information is tantamount to plagiarism. You must clearly distinguish between information and insights provided by credible sources versus those that are you own suppositions or conclusions.
the product is a pizza machine that make hot pizza fast..
the company name is Pizza To GO.
the coustomers will be students and facility on university campus.
the machine will have options to provide a 3 sizes of pizza. small, medium, Large. it also can provide single slices of pizza. you can also chose your topping as you like.
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