WHAT IS THE SEMESTER PROJECT FOR PRINCIPLES OF MARKETING?
The semester project i

WHAT IS THE SEMESTER PROJECT FOR PRINCIPLES OF MARKETING?
The semester project involves your creating an outline of a marketing plan for a “new” consumer product (meaning a product that has been on the market for one year or less). The product may be food, beverage, electronics, health & beauty aid, automobile, motorcycle, pharmaceutical, etc. Basically this is a marketing analysis from which a detailed marketing plan might be created.
There is not a comprehensive final exam in this course. The semester project will serve as the means by which you will demonstrate your mastery of the subject matter.
Detailed Marketing Plan Outline for the Semester Project
The following outline should be followed in completing the semester project. Papers should be written in a narrative (paragraph) format.
Product Background (5 points)
Introduce the new product. Describe what the product is and what it does. The introduction might include: consumer demand, product usage, attributes, benefits to the target market, competitive edge, branding, labeling, packaging, support services etc.
What is the geographic area in which the product will be sold?
What kind of image does the product have? (such as cheap but good, exclusive, customer-oriented, highest quality, convenience, or speed)
Company (Manufacturer) Background (5 points)
Include the name and history of the manufacturer, its other products and services, etc.
Include the company’s mission statement (if you can find it).

Strategic Issues (10 points)
Discuss the current business environment for the new product.
What are the internal and external issues which could affect next year’s business? (Look for industry forecast information)
Include details about other new product introductions in the same company, industry consolidations or expansions, new distribution outlets, or a major change in industry pricing, etc.

Target Market (10 points)
Describe the target market for the product. (Example: 18-25 year old females who are interested in fashion, retirees, people concerned about sugar and calories in their soft drinks, etc.)
Remember there may be more than one market segment targeted.
Describe demographics, psychographics and buyer behavior as they relate to your product.
If the market segments are differentiated by ethnicity or have an international focus, examine the aspects of the marketing mix.

Competition (15 points)
SWOT
Create a SWOT analysis for the company and the new product.
What are the strengths and weaknesses compared to the competition (consider such areas as location, size of resources, reputation, services, personnel, etc.)?
What are the opportunities and threats of the product/service? How might these opportunities be exploited and the threats minimized or eliminated?
COMPETITION
Describe the competitive environment for the product.
Create profiles of the top two (2) competitors with details of those competitors and the products which compete with your profiled company’s new product.
Develop a market share assessment for the new product in relation to its competitors.

Pricing (10 points)
What is the price of the product?
How does the price compare to that of the competition?
Discuss the possible rationale for pricing the product at this amount.

Promotion/ Advertising (10 points)
How does the company promote their product? Do they use any of the following channels?
-Television -Internet
-Radio -Personal Contacts
-Direct Mail – Billboard (Outdoor advertisement)
-Newspapers -Trade Associations
-Magazines -Social Media
What message is the company attempting to get across to the consumers?
Why is the media chosen the most effective?

Distribution (10 points)
Where can consumers find the product or where can they obtain the service?
Is there sufficient distribution and availability of the product to ensure its access and success?
Are there any “weak links” in the distribution chain that might create a problem in getting the product/service to the customer?

Positioning Statement (5 points)
Describe the company’s positioning for the next year. This positioning statement should be one sentence long.
Here’s where you get creative. Make up a “new” tag line that can be used in advertising and promotion and something that the sales staff can say quickly and concisely.
A few examples of a tag line are:
Can you hear me now? – Verizon Wireless.
Five dollar foot long — Subway.
What’s in your wallet? – Capital One.
What happens here, stays here – Las Vegas Convention and Visitors Authority.
Easy, breezy, beautiful Covergirl – Covergirl makeup.
It gives you wings — Redbull

Summary (5 points)
Provide your assessment for the future success of the product based on the analysis that you have done of the product.
How to Cite Your Sources (References) (5 points)
Source documents used in developing your project should be cited as references using the APA format. (Click here to see instructions on “How to Cite Sources”). Click on the APA Citation Quick Reference Guide on the page.

Deadline: The deadline for the final semester project is 11:55 p.m. Wednesday, May 1, 2024.
CLICK HERE TO SEE AN EXAMPLE – This is what your semester project should look like.
This is only an EXAMPLE. It does not guarantee 100% on the final project.
Project Overall – TURN IT IN! (10 points)
Remember the following:
Include a standard cover sheet including the project name, your name, course name, date and class time.
Use a narrative format in writing your paper. Use complete sentences please.
Use a 10 or 12 point font. (Arial or Times New Roman)