Components of a Marketing Plan Part 2: Environment, and the Concept to Commercialization Process

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Purpose of Assignment

The purpose of this assignment is to continue to have students place themselves in the role of a marketing research and planning team leader while completing the last half of the team’s project that was started in Week 3. Students will be researching and making decisions on price setting, promotion strategies, environmental forces/scanning, and steps to bringing their company’s product from concept to commercialization.

Assignment Steps

Resources: Marketing: Ch. 1: pg. 4-10; Ch. 9: pg. 238 -257; Ch. 10: pg. 274-281

Scenario: Using the same organization and product/service you used in the Week 3 learning team assignment and the same scenario, you will be presenting the following analyses to the board of directors and stakeholders. They will be using these analyses to make their final decision on how, and if, to launch your company’s new and unique product/service.

Develop a minimum 1,050-word analysis addressing the following:

  • Identify your target market and describe each segmentation (demographic, psychographic, geographic, and behavioral).
  • Prepare a competitive analysis using either Five Competitive Forces or Blue Ocean Strategy’s Strategy Canvas. Demonstrate this by using graphs.
  • Using the Positioning Statement Generator, provide a positioning statement and demonstrate how your product is positioned against competitors.
  • Analyze how your company will implement the New-Product Development Process (seven stages) to bring your product/service from concept to commercialization.

Cite a minimum of three peer-reviewed sources.At least one source should be from the course materials and at least one source from the University Library.

Format your paper consistent with APA guidelines.

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