Strategic Marketing and Innovation

Assignment Requirements: Research Paper

 

This report is second part of Marketing Opportunity Analysis (attached)
Find PDF attached show the method of how to do
Find mini example as well

Your audience: CIO (Chief Innovation Officer) or BOD (Board of Directors)
ØYour task: persuade to support your proposal for commercialization development
ØYour challenge: convince with conviction
ØYour result …

The project must include
Table of content
Clear heading with numbers
Ensure cohesive and solid of data presented
Images and graphs to support the strategy
Creativity is must in this task
Reference

Final Project: PlayStation 4 Strategic Marketing Plan

 

The final project is a strategic marketing plan for MOA (attached). This group project gives you an opportunity to test and advance your ability to understand and analyses marketing situations, identify an opportunity, design a marketing strategy and implementation plan. It requires a good grasp of marketing concepts, strong decision-making and team-work skills.

Groups should form in order to combine key strengths in new venture creation; i.e. strategy formulation, execution detail and financial acumen. Group members should evaluate the viability of individual venture proposals and run with the most promising concept for development.

While the marketing process and specific responsibilities of a marketing manager vary across industries and firms, developing a strategic marketing plan involves three main activities:

1. analysis of market situation;

2. marketing strategy formulation;

3. implementing strategy through marketing mix.

 

The course will cover all three areas and will equip you with the necessary concepts and skills.

Each plan will be prepared and presented by a group of students. Each team has to identify an existing opportunity (an unfulfilled need, perhaps) in the market, propose a new business (or product, or service) that can address it, and design strategy and related tactics for launching it.

Characteristics of a sound marketing plan include:

• Should provide a strategy for accomplishing the company mission and goal.
• It should be based on facts and valid assumptions.
• An appropriate organization must be described to implement the plan.
• It should provide continuity so that each annual plan can build upon it.
• It should be simple and short.
• The success of the plan may depend on flexibility.
• It should specify performance criteria that will be monitored and controlled.

 

Key steps in preparing the marketing plan include:

1. Define the business situation which analyses past and present business achievements of the your venture

2. Define the target market, opportunities and threats. A target market is a specific group of potential customers toward which the venture aims its marketing plan.

3. Market segmentation is the process of dividing a market into definable and measurable groups for purposes of targeting marketing strategy.

4. Considering Strength and Weaknesses in the target market.

5. Establish goals and objectives to measure the level of performance desired your venture

 

Be sure to define deliverable action programs:

 Specific activities to meet the ventures goals.

 Create a description of the new product or service in the new venture.

 Pricing will need to consider costs, margins or mark-ups, and competition.

 Distribution makes the product convenient to the customer.

 

Each team will present its plan to the class. Time for each presentation will depend, in part, on the total number of projects, but will be no more than 10 minutes (5 PowerPoint slides) and 5 minutes Q&A. That is, we will use the format and will practice the expanded “elevator pitch.” Effectiveness of the verbal presentation is key in communicating your concept and receiving quality feedback from your classmates.

The written plan for your final project is due soon after your presentations to allow you to incorporate any feedback you receive for you “pitch” following your in-class presentation. The final project should be a maximum of 15 pages, including any charts, graphs, and figures.

The plans will be evaluated according to the following criteria:

1. The quality of the analysis — were the right questions asked?

2. The feasibility of conclusions or recommendations — do they follow from the analysis?

3. Evidence of mastery of the frameworks, concepts, and methods developed in the course.

4. The effectiveness (logic and persuasion) of the written presentation of the report.

 

 

 

Final Assessment

The final project is a strategic marketing plan for a new business idea. This group project gives you an opportunity to test and advance your ability to understand and analyse marketing situations, identify an opportunity, design a marketing strategy and implementation plan

 

 

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