Marketing Plan.
In this assignment we will be looking at how well you can go about constructing a plan to develop an idea into a product or service and in developing the plan justify and control the range of processes and methods tightly to suite the product or innovation chosen.
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Remember you are developing a plan based on best practice, that’s the product you are aiming for, take a careful look at the marking scheme to ensure that you meet the criteria for the overall grade you are targeting. To get best practice you must examine practice and then distil best practice in the context of your idea or innovation.
Typically you will need to follow roughly the process below:
- Choose an idea or innovation to develop. What you do not need to do it invent a whole new idea and take it to market. You might choose to take a new mobile phone (perhaps 4G) to market. You might choose to re-invent a current product or amend a service offer. Once you have chosen you can then move towards the planning.
- First decide which bit of the development context are you going to tackle is it the whole of the diagram on slide five of week 1 or just the [product development pink blob? And then decide the level of detail within it. (Slide 8 week 3)
- Now you will need to review the range of approaches that can be taken at each stage of the development process and if you are going to evolve your own process you will need to tackle that first.
- Once you have a range of approaches you can start to make choices, you will need to justify your choice. So will you create a prototype and market test it, will you take the concept and survey people in the street.
- You will need to justify your choices and ensure that you highlight the interactions that may affect your plan, so what are the logistics issues and what might the micro and macro factors influence in your plan.
- Finalise your plan and write up your approach to aspects 1-5 above.
- Prepare your presentation.
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