assume the role of the Marketing Manager of a newly designed product, and our
job is to carry out an audit of the environment and create a marketing plan for
the future of the product.
Your Task
This
assignment is broken down into:
Task
1: We will find a new product
on Indiegogo, Kickstarter or a similar website with limited Marketing
initiatives.
Tip:
It is beneficial for us if the product we select has a reasonable amount of
information, e.g. proposed price, product details etc. This will help us with task
2.
Task
2: Once we have decided on a
product, we should carry out an audit of the operating environment, researching
the product, sector and environment.
Tip:
We should consider the opportunities and challenges our product may face; these
could include (but are not limited to) rivals, distribution, market demand
etc.
Things
to consider:
·
Analyse how this product captures and
demonstrates value.
·
Is this product truly innovative, or is
it just a slight variation of an existing product?
·
How does it differentiate itself from its
rivals?