Critically about the planning of a launch of a new or improved product. You will work in groups of 3-5 students to develop a short version of a typical market plan for a consumer product.
The first thing you will do is select a product to evaluate. It must be physical/tangible (no services). You can pick ANY commodity product you see in a supermarket (such as food, beverage, household or male/female and personal or regular hygiene products) or retail store (clothing, electronics, etc). When picking the product, you don't want it to be too big (for example, Coke could be narrowed down to Diet Coke) and all products MUST be US based (have a manufacturing division in the US) and also do not select a company, service or a generic product in a store.
All types of products have Marketing Plans. We will be doing a short version of the Marketing Plan including the strategies, objectives and goals, the 4 P’s, marketing research, forecasts, implementation and controls. Be creative and think outside the box. Any over the counter products are ok, BUT try to use a product that most people (as consumers) are familiar with.