BMI 3C0
MARKETING PLAN FOR A NEW PRODUCT

You will have the opportunity to develop and demonstrate your marketing knowledge through the creation and marketing of a new product. You will: • Identify an appropriate target market that is aged 9 or older for a product • Develop a new product or innovate an existing product for this market • Develop a marketing plan to accompany the product

You will follow a number of steps in developing a suitable product. Each step is an important facet of the marketing process, a reflection and practice of the Marketing Mix, the 4P's.

There are a number of stages to this project. After each unit you will be given the opportunity to work on a stage related to topics from that unit. You will be expected to complete each phase of the project in a timely manner, according to the suggested timeline, and submit on Angel. At the end of the project (in January), you will compile the work into a complete marketing plan and give a 5-minute presentation.

NOTE: The handouts you will be given in class are to help you develop your marketing plan, but are not the finished product. You must use these handouts to create a formal report that includes the information on the handouts.

You will need to determine the target market you would like to create a product to market to. You will create a survey to determine the needs and wants of this specific group. The survey should ask direct questions to discover the needs of the specific group. You must then analyze this information to help determine the features and characteristics of the new product.

After determining the needs of the target market, you will begin the creation of this product. You will be asked to create a prototype of the product (a sketch or a tangible/computer model is acceptable). The type of product created should be appropriate for the