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    MKT 370 Group Assignment 1-1

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    joey131413141314
    The document outlines a group assignment for a marketing principles course where students must identify a new product or content idea, analyze the target market, and propose a marketing strategy. It provides guidelines for selecting a product/topic, describing the product/content, performing an STP analysis to identify target segments and estimated market size, and determining marketing channels and revenue sources. Deliverables include a paper no more than 1200 words describing the product, analysis, and marketing plan.

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    MKT 370 Group Assignment 1-1

    Uploaded by

    joey131413141314
    22 views2 pages
    The document outlines a group assignment for a marketing principles course where students must identify a new product or content idea, analyze the target market, and propose a marketing strategy. It provides guidelines for selecting a product/topic, describing the product/content, performing an STP analysis to identify target segments and estimated market size, and determining marketing channels and revenue sources. Deliverables include a paper no more than 1200 words describing the product, analysis, and marketing plan.

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    The document outlines a group assignment for a marketing principles course where students must identify a new product or content idea, analyze the target market, and propose a marketing strategy. It provides guidelines for selecting a product/topic, describing the product/content, performing an STP analysis to identify target segments and estimated market size, and determining marketing channels and revenue sources. Deliverables include a paper no more than 1200 words describing the product, analysis, and marketing plan.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    22 views2 pages

    MKT 370 Group Assignment 1-1

    Uploaded by

    joey131413141314
    The document outlines a group assignment for a marketing principles course where students must identify a new product or content idea, analyze the target market, and propose a marketing strategy. It provides guidelines for selecting a product/topic, describing the product/content, performing an STP analysis to identify target segments and estimated market size, and determining marketing channels and revenue sources. Deliverables include a paper no more than 1200 words describing the product, analysis, and marketing plan.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    MKT 370: Principles of Marketing (Spring 2024)

    Group Project Part I: Marketing Plan

    Type: Group Assignment


    Due Date: March 7 (by 11:59 pm CST)

    INTRODUCTION

    The best way to learn marketing is by doing marketing. The goal of the project is to identify a
    new type of product / content, as well as design a marketing strategy to promote it and engage
    consumers. You can combine multiple existing products or launch something brand new. Also,
    you can market either a physical or virtual product. At the end of the course, the final project
    will describe your product, designed plan, and how you will measure its performance and
    provide insights for future marketing initiatives.

    OBJECTIVES

    (1) Identify product / content that consumers might be interested to consume. Who knows, you
    might make it real or become famous in the digital world. Examples of products include cross-
    brand collaborations, new product line of an existing product, etc. Examples of content include
    generating memes of college humor, recommending off-campus activities, cooking tutorials
    which are fun and easy, useful fashion / technology / life tips, etc.

    (2) Identify the target segments for the product / content. Estimate the market potential and
    create a marketing strategy to reach and engage these segments.

    APPROACH

    You will work as a team of 4 people throughout the course. This is the first part of the course’s
    final project.

    1. (2pts) Pick a product / content topic for your project. When picking the product / topic, think
    carefully about the type of product / content you will create or curate, the potential market it
    can capture, and any sales channel/platform/technology to distribute your product / content.

    2. (4pts) Design your product / content – carefully describe what the product / content is, why
    and how it will be created, etc. Provide a sample of the product or a content item as an exhibit
    in this assignment. Note that innovation of an existing product or curation of content (sharing
    content from others) is a great approach. You do not have to be the most creative to be the
    best marketer.

    3. (6pts) Perform an STP analysis for your newly envisioned product. Whom should you target
    and what is the estimated market size in terms of potential consumers / followers (depending
    on whether your product is physical or virtual)?
    4. (8pts) Given your target segments, determine which marketing channels you will use to
    promote your product. What are potential revenue sources for your product? How will you
    generate these revenues and what are the costs? Who will be your competitors and how many
    are they?

    DELIVERABLES

    A paper, submitted on Canvas, with no more than 1200 words in length and no more than four
    exhibits (visual examples, figures, tables etc.) All text (including exhibit texts) count towards the
    word limit. Please report the total word count on the first page. Please use 12pt font and 1.5
    spacing. The paper needs to answer points 2 – 6 above. Please mark clearly which section
    addresses which point.

    High quality papers: (1) Offer compelling data to support any estimates of market sizes, growth
    rates, costs, revenues etc. All data is referenced with its source. (2) Favor analysis over
    description, i.e., explain why you chose your specific product and plan, rather than simply
    stating what the execution is. If you have general questions about the assignment and you think
    the answer might be helpful to everyone, please send your questions to the class email so that
    we can respond and everyone can see. Otherwise, the TA and I are always available to help.

    Good luck!

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