The strategic marketing plan to launch a new product

This is a paper that is focusing on the strategic marketing plan to launch a new product. The paper also provides an assessment criteria to use in writing the assignment paper.

The strategic marketing plan to launch a new product

The requirements for the assessment

Contributes 100% of the overall module mark. An individual academic essay in report format of 3,000 words (+/- 10% excluding references and appendices).

Create a strategic marketing plan to launch a new product for a company of your choice, into their existing market.

The new product must be sufficiently different from the brand’s core offering i.e. it is extending the brand into a new area. For guidance use SIC codes to confirm
The submissions should be in a written report format i.e. executive summary, headings, bullets allowed, tables and charts etc.

Assessment criteria

Assessment 001 submissions will be expected to include:

Firstly, a brief overview and understanding of the brand’s current core offering, the market and its competitors in that current market
Secondly, an understanding of its current target audience in its core market
Thirdly, porter’s 5-forces analysis of the new product market
Fourthly, identification of main competitors in the new product market
Evidenced market demand from its current target audience (for the new product)
A SWOT analysis on the new product into the current target audience
Analysis of data and management information to justify entrance into the new product market
Critical analysis of the above elements to form a proposed competitive positioning strategy for the new product; and
A proposed marketing mix to launch the new product market
Your proposal must include discussion of how success will be measured e.g. balanced scorecard, SMART objectives or other financial metrics.

PLUS, the criteria outlined in the marking grid which can be accessed below.
By way of guidance, look to approximately 1,500 words to cover points 1-7 and 1,500 to cover points 8 – 10.