For this assignment you are spearheading the development of a new product for the company Guzman Y Gomez. The product (good or service) can be real or fictitious; it does not have to be ‘new-to-the-world’ but new to the organisation (see categories of new products in Topic 4).
. You may need to gather more information specific to the new product, but as this is not specifically a marketing research assignment do not spend inappropriate time gathering research. Instead state any assumptions you need to make if research information is not available.
You are required to develop a marketing plan to support the launch of this new product/service. In developing your plan:
a) Make sure the plan follows a recognised authority for structure and content – have a look back at Topic 1. However as it is only a launch plan, each section is brief and succinct.
b) Preface your marketing plan with some background on the organisation, its mission and corporate objectives, being the context of the launch plan.
c) As this is specifically a launch plan, your time horizon may be shorter than one year. In some cases you may envisage your launch as a test market (Step 7 in the new product development process).
d) As a rule of thumb, a plan should normally be split 50/50 (in length/words) between the situation analysis and recommendations (objectives/strategies/action plans) sections of a marketing plan.
e) Be sure to support your strategy recommendations with rationale. You will need to address all elements of the marketing mix so Topics 4 to 6 will be relevant.