Product and Brand Management – Case Study – asma55
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Product and Brand Management
Product and Brand ManagementNew Product Development and Branding Project guidelineProject Team:You are required from day (1) of classes to form groups … expected 4-5 members/group. The objective of the project is to give you hands on experience in product development and management.You have 2 options:Choose an existing product and improve by developing itCreate a new productDeliverables last day of classes:Powerpoint presentation to be delivered to the whole class (class 6)One paper copy of the powerpoint to be given to meOne soft copy to be sent by mail Each group will have 20-25 minutes to present the projectProject development phases:Phase 1: Idea GenerationIdentify product ideasMethods of generating ideasSWOT analysisGeneral benefits of the productNB. You can conduct mini-surveys, or interviews to identify ideas – use customer needs and wants to identify product development A report on idea generation is discussed in class 2 and worth 5% of gradePhase 2: Idea ScreeningUse standard format writing up new product ideasTry to apply the RWW screening frameworkBrainstorm an evaluation criteria that could apply to your selected productCustomer analysis, Market analysis, Competitive analysisFinalize idea selectionNB: you can use PEST analysis at this stagePhase 3: Concept development and testing
Profile target marketsEstimate market sizesAssess purchase intentions (Consumer Behavior)Positioning Use quantitative and qualitative techniques in your researchNB: please refer to Marketing Research course content A progress report is required at this stage and worth 10% of gradePhase 4: Marketing StrategyDesign an initial marketing strategy for a new product based on the product conceptTarget market, Product positioning, Sales, Market share, Profit goals, etc.,Phase 5: Business analysisEstimate the commercial performance of the proposed productPricing analysis, Sales forecastBreakeven analysisNB: in phases 4 and 5 please refer to Strategic Marketing course contentPhase 6: Assume technical product developmentAt this stage work on branding, labeling and packaging as wellNB: You will have to include the branding part of the project which should include:Identifying and establishing brand positioning and valuesbrand mantraPOD – POPPositioning statementChoosing brand elements to build brand equityBrand nameURLLogos and SymbolsSloganPackagingMarketing MixSecondary brand associationPhase 7: Test MarketingSelect the type of test marketing that can be used with your selected productGive reasons for your selection Phase 8: CommercializationDevelop a mini IMC planIncluding: Advertising, Personal selling, Sales promotions, Public relations, Direct Marketing….etc.Prepare for Product launch and distributionNB: Please refer to IMC course contentFinal report PRINTED and project presentations worth 30% of gradeIdea generation mini report 5%Progress report after concept development 10%Final report and presentation 30% Thank you and best of luck!
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By: asma55
Submitted: March 4, 2019
Essay Length: 565 Words / 3 Pages
Paper type: Case Study
Views: 140
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