Course Objective
Samsung : New Product Development (NPD) idea.
This assessment addresses the following course objective(s):
- Assess internal and external communication needs as they relate to the marketing function.
- Assess challenges for a domestic company marketing globally.
- Develop a marketing plan.
Instructions
The final project for this course will be developing a marketing plan for a New Product Development (NPD) idea. Throughout this course, you will be learning about the various parts that comprise a marketing plan. The first assignment for the final project will be a proposal describing your New Product Development (NPD) idea.
Proposal
The proposal must include a 1-2 pages describing the New Product Development (NPD) idea.
The proposal document must illustrate the two following ideas:
- Consumer problem to be solved/gains to be provided
- Nature of the proposed solution
The document must elaborate on the feasibility of the proposed solution, as well as a brief summary of available alternatives.
Final Project
The final project for this course will be developing a marketing plan for a New Product Development (NPD) idea. Throughout this course, you will be learning about the various parts that comprise a marketing plan. Your final deliverable for this class will be a strategic marketing analysis and plan.
The final plan should illustrate the following points:
- Consumer problem to be solved/gains to be provided
- Nature of the proposed solution
- Positioning statement
- Details on a target market and market segmentation
- Market analysis
- SWOT analysis
- Details on competing products or services
- Discussions on differentiation from competition
- discussion on market trends based on research
- New product development process summary
- Details on the process used to develop this hypothetical product
- Discussion on how concept/product could be tested
- Marketing strategy
- Provide an overview of the planned marketing and advertising strategy
- Provide more specific details and discussions on one of the following:
- Integrated marketing communication plan
- Logistics and distribution to include reverse logistics
