NPD Launch Plan

NPD Launch Plan
Basic requirements (Failure to meet these requirements will result in a loss of 5 points, minimum.)
• • Your report must meet all requirements stated in the syllabus.
• • Your report must be at least eight pages of your written content.
• • Tables, charts, graphs, or analysis do not count as written content.
• • You need at least four independent references (not including the textbook). Your references must be
properly cited (APA format).
oAll sources must have an author; individual(s) or organization. oOne page (copy) from each reference is required.
• • Headings are required and the following headings in bold are required (minimum).
• • Underling to emphasis important points is recommended.
• • Normal borders and fonts are required.
• • Ease of understanding information is important in business reports. Therefore, clarity of the information
you provide will affect your grade.
[First page: Title Page]
[Second page] Executive Summary (This is a full page, but do not exceed one page – write this section last) 3 points
Describe (two-three paragraphs)
Your industry, business (firm name), and product <<<(underline each one)
Megatrend influencing your new product (underline) and explain the influence. Succinctly describe your product launch strategy; underlining key variables.
[Third page] Table of Contents [Fourth page starts your report]
I. Mission Statement (of the Firm) 2 points
One sentence to one paragraph (no more than three sentences) overview of your business with the focus on (1) the benefits to your customers and (2) how your firm is different from competitors. (This statement is qualitative, not quantitative). You need to create a mission if your firm does not have one or it does not meet these requirements <Provide one page of your source if you use the firm’s mission statement.
II. Opportunity Analysis 6 points
Identify your industry & firm (underline) using Fortune 500/Global 500 listSWOT
oUse Datamonitor SWOT analysis as reference. If your firm does not have one, pick the closest competitor that you can find. <Provide copy of your Datamonitor SWOT chart
Product Innovation Charter (Ch 3, pp 69-78)
MKTG 3500 – Dr. Gailey – 3 Sep 2015
oBackground – include major trend influencing your new product (underline) and explain the influence.
oFocus
• • Market drivers (pp. 75-76)
• • Technology drivers (pp. 74-75) <<< Optional
oGoals – Must be measureable and specific (see slides) – Use the SMART requirements for goal
setting.
oGuidelines
Product Concept (Ch 4, pp 106-108)
o Product Concept Statement – Identify and explain two of the following three factors as they relate
to your new product
Need/benefit – What customers will value (required) Form
Technology
oExplain your product’s strategic fit with firm’s mission and SWOT (Ch 3, pp 81-84)
oFeature–benefit–value chart
III. Competitive Considerations – Provide a comparison chart – Identify and provide detailed information on your
closest competitor. <Provide one page (hardcopy) of your source(s). 3 points o Firm name
oProduct (be specific)
o Price
o Distribution channels
o Promotions being used (provide examples)
IV. ProductProtocol(Abbreviated)–SeeFig12.4.p.28910points
1. Target market – Identify the benefits sought (i.e., needs, wants, preferences) by the TM
2. Marketing mix
i. Product – Describe your product and its features / benefits / value to TM customers using a feature-benefit-value chart.
ii. Price – Identify your pricing strategy and explain your rationale.
iii. Place – Identify your distribution channel(s) and explain your rationale.
iv. Promotion (include a positioning statement in the format provided in class) – What benefit will
be emphasized and why?
3. Competitive comparison (significant differences) – You can refer to “Competitive Considerations”
(above).
4. Timing – first-to market, etc.
5. Major hurdles (text: potholes)
2
Other items may be added, but the above six are required.
V. Implementation, Evaluation, Control – Each section must be separate with its own heading 4 points
1. Implementation – Provide a rudimentary, 12 month schedule of marketing activities (6 months prior to
launch and 6 months after). Bonus points (4 maximum) with be given for correctly using the Bass Model
to create a 6 month forecast.
2. Evaluation – Measurables (describe what you would measure and when) and limits
3. Control – What will you do if you are over or under plan (beyond reasonable limits)?
Reference page is a separate page (APA format required).
Tables and graphs (if not built in your report)
Appendices (if used)
Copies of your reference sources and examples of competitor’s promotional materials
3
Assignment Percentage
Launch Plan 28
Presentation 6
Evaluations 2
Total 36

New Product Innovative Feature Trend Industry (Global 500) Firm
Electronic Vending Machine Medication ??? Healthcare: Pharmacy and Other Services Express Scripts Holding

 

 

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