NEW PRODUCT MANAGEMENT

Project Guidelines

The emphasis of this project is to Propose a New Product or Service that your selected Publicly Traded Company does NOT currently have. For a product/service you wish for your company to introduce and implement. You will identify marketing problems, analyze the internal and external forces that influence these issues, develop viable solutions to these problems, determine implementation tasks, and evaluate the probable success of proposed recommendations. The focus of the solutions will be maximizing customer satisfaction and value within the framework of mission, vision, profitability, and integrity of your selected company. You do this through a strategic lens that requires planning, execution, and delivers measurable results.

Paper should be about 15-20 pages (but can be more) including diagrams, tables, photos etc.…this is a guide so if you end up with 1000 pages, it’s ok but a 5-page paper is not acceptable. 1 ½ space, size12 font and any format you are comfortable with such MLA, APA, etc…I am more interested in the content than the format. You must cite all your sources and place them under References at the end of the paper. Your paper will be submitted through SafeAssign.

OutlineFailure to follow the outline (Verbatim) will result in a zero “0” grade on the project

Start with a Cover Page then proceed as follows:

· Executive Summary (ES): one page describing exactly what you are doing in 2-3 paragraphs

Company Background & Milestones

PART I: THE BUSINESS (this is the current company and its existing products/services)

Vision & Mission Statements

Description of Business

Product/Service

Target Market / Customer Profile

Business Location

Business Model (how does the company operate and make money?)

Goals – Objectives – Strategies

Company Performance (Financial and Strategic)

SWOT (Analysis of Strengths, Weaknesses, Opportunities, Threats)

Core Competencies and Competitive Advantage

Industry/Market Analysis

– economic characteristics

– key success factors

– trends and opportunities

– Forces analysis (Porter’s)

Competitor Analysis

– Identify competitors

– What your company does to maintain its market share

PART II: MARKETING (this is your proposed product/service that your company does not current have i.e Apple selling Chicken Sandwiches, or Starbucks making Jet Fighters )

1. Marketing Goals – Objectives – Strategies (of your proposed product, you decide here)

2. Customer Analysis (your target audience, it may be the same as that of the company)

3. Marketing Mix (4 P’s)

PART III: FINANCE (You can estimate this section since it’s hypothetical)

1. Financial Goals – Objectives – Strategies

2. Cost of introducing the new product or service, where are you getting the money from, and when would the company break even (ROI, what is your return on the investment)

PART IV: HUMAN RESOURCE MANAGEMENT (again, this is for your proposed new product/service, you must recruit, train, etc…you cannot simply expect the existing employees to also work for your proposal)

Recruitment

Training

Performance Appraisal

Compensation and Benefits

CONCLUSION:

Based on your analysis, write your key determining factors as to why your company should implement your proposal and introduce a new product or service. This needs to be at least one page or more, but not a small paragraph.