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Developing Marketing Strategy for a New Product

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Create a product or service (do not choose an existing brand) OR select a product or service from the following list: cell phone, video game, motorcycle, perfume, hair salon, toothpaste, website design consulting business, online dating service, auto body shop.

Using the course resources, develop an environmental analysis, marketing strategy, and marketing mix for this product.
Consider if your selected product is affected by environmental factors (Political, Economic, Socio-cultural, Technological, Competitive). If so, how?

Include a description of the target market and positioning (how customers perceive your product or service). Include a detailed overview of each element of the marketing mix (product, price, distribution, and marketing communications).

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Solution Preview

Create a product or service (do not choose an existing brand) OR select a product or service from the following list: cell phone, video game, motorcycle, perfume, hair salon, toothpaste, website design consulting business, online dating service, auto body shop.

The product selected is Website Design:
Using the course resources, develop an environmental analysis, marketing strategy, and marketing mix for this product.
Consider if your selected product is affected by environmental factors

Political. Currently, there is general political stability, the US is not likely to be invaded by any country and there is excellent intellectual property protection. This is conducive for website development business. There are no pricing regulations that affect website development, the legal framework and ...

Solution Summary

This solution gives you environmental analysis, marketing mix and marketing strategy. It provides an example for creating a new product/service to apply these concepts in real life.

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Marketing Research: challenges when developing new products

As a participant in the AIBC, you will have an opportunity to become a published writer at the end of the conference. AIU hosts a marketing publication, "The Marketing Scene," which provides a platform for professionals and consumers to discuss new ways of marketing, the effectiveness of advertising trends, specific ad campaigns and the impact this information has on our society. It provides a good starting point for this assignment. Some of the stories talk about the marketing of new products or the revitalization of existing ones.

Specialized Research using the Library's Full-Text ARTICLES Databases

Marketers must learn to do solid research in support of upcoming projects. The research paper and should address the following:

1. What challenges does a company face when developing new products in the global economy? Describe selected challenges using examples of at least 3 product/service launches. Resources MUST include articles from the library's full-text databases.

2. After having discussed the challenges of new product launches, how has technology assisted in the effort? Report on at least 3 situations in which technology supports the marketing effort. Resources MUST include articles from the library's full-text databases.

3. Legal and ethical implications loom large in today's business environment. Describe selected challenges using examples of at least 3 legal/ethical faux pas in marketing that hit the media. The Marketing Scene devotes a section to Controversy in Ads, which may give you some ideas for your research.

Resources MUST include articles from the library's full-text databases.

The assignment requires the use of ARTICLES from the library's full-text databases. Articles are found in periodicals. These are not to be confused with eBooks or Reference Books. The most popular databases in marketing are: ABI Inform Global, Academic Search Premier, and Business Source Premier.

Your report MUST include a reference list. All research should be cited in the body of the paper. In-text citations and corresponding references should be included in your paper. For more information on APA, please visit the APA Lab. The paper should be written in third person; this means words like 'I', 'we', and 'you' are not appropriate. The use of direct quotes is discouraged, but may be used sparingly in appropriate situations.

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