The project for this course will be developing a marketing plan for a New Product Development (NPD) idea. The assignment project will be a proposal describing your New Product Development (NPD) idea.
Proposal
The proposal must include 1 page describing the New Product Development (NPD) idea.
The proposal document must illustrate the two following ideas:
- Consumer problem to be solved/gains to be provided
- Nature of the proposed solution
The document must elaborate on the feasibility of the proposed solution, as well as a brief summary of available alternatives.
The final plan should illustrate the following points:
- Consumer problem to be solved/gains to be provided
- Nature of the proposed solution
- Positioning statement
- Details on a target market and market segmentation
- Market analysis
- SWOT analysis
- Details on competing products or services
- Discussions on differentiation from competition
- discussion on market trends based on research
- New product development process summary
- Details on the process used to develop this hypothetical product
- Discussion on how concept/product could be tested
- Marketing strategy
- Provide an overview of the planned marketing and advertising strategy
- Provide more specific details and discussions on one of the following:
- Integrated marketing communication plan
- Logistics and distribution to include reverse logistics
