Principles of Marketing: Group Assignment
Course Title: Principles of Marketing
Assignment Title: Marketing Strategy Development for a New Product
Due Date: May, 2017 E.C
Load: 20%
Assignment Overview
In this group assignment, you will apply the principles of marketing learned throughout the
course to develop a comprehensive marketing strategy for a new product. You will work
collaboratively to analyse the market, identify target customers, and create a marketing plan
that includes product positioning, pricing, promotion, and distribution strategies.
Objectives
1. To apply marketing concepts and frameworks to real-world scenarios.
2. To enhance teamwork and collaborative skills.
3. To develop critical thinking and problem-solving abilities in a marketing context.
4. To communicate marketing strategies effectively through written and oral presentations.
Assignment Components
Table of contents
1. Product Selection (4% of grade)
• Choose a new product or service that you believe has potential in the market. This can be
an entirely new concept or an innovative twist on an existing product.
• Provide a brief description of the product, including its features and benefits.
2. Market Analysis (4% of grade)
• Conduct a SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats) for your
chosen product.
• Analyse the competitive landscape: Identify at least three competitors and discuss their
strengths and weaknesses.
• Define the target market: Identify demographic, psychographic, and behavioral
characteristics of your ideal customer.
3. Marketing Mix Strategy (4% of grade)
• Product: Discuss the unique selling proposition (USP) of your product. How does it stand
out in the market?
• Price: Develop a pricing strategy. Consider cost-based pricing, value-based pricing, or
competitive pricing.
• Promotion: Create a promotional strategy that includes advertising, public relations, social
media, and sales promotions. Discuss how you will create awareness and generate interest in
your product.
• Place (Distribution): Outline the distribution channels you will use to make your product
available to customers. Discuss the rationale behind your choices.
4. Implementation Plan (4% of grade)
• Develop a timeline for the launch of your product, including key milestones.
• Identify potential challenges you may face during the launch and propose solutions to
overcome them.
5. Presentation (4% of grade)
• Prepare a 10 minute presentation summarizing your marketing strategy. Each group
member should participate in the presentation.
• Use visual aids (slides, charts, etc.) to enhance your presentation and engage your
audience (if any).
Submission Guidelines
• Written Report: A comprehensive report (10-15 pages) that includes all components
outlined above.
• Presentation: A PowerPoint presentation (10-15 slides) summarizing your marketing
strategy.
• Submit both written report in hard and soft copy
Evaluation Criteria
• Clarity and originality of the product concept
• Depth of market analysis
• Coherence and creativity of marketing mix strategies
• Feasibility and detail of the implementation plan
• Quality of the written report (organization, grammar, formatting)
• Effectiveness of the presentation (engagement, clarity, teamwork)
Important Notes
• Collaboration is key; ensure that all group members contribute equally to the project.
• Schedule regular meetings to discuss progress and address any challenges.
• Seek feedback from peers or instructors if needed.
NB: Similar product is not allowed!