Weight to total grade 40% of total grade

Report Length 1,500 words (not including references and appendices)
Harvard referencing required.
To be uploaded at Turnitin on week 6, October 25 at 11.59pm at Turnitin

Project description:

Students are to work individually and prepare a report on a successful new product launch in the European or North American market.It can be a physical product or a service. It can be a completely new product or service or a re-launched one, which however entails a significant element of “newness” for the customer.
In order to achieve that they will need to conduct a literature review on key success factors of new product launches and use that as the basis for their product choice.
This assignment is designed to develop and assess students’ understanding of the key success factors and key challenges related to new product launches in developed economies and stagnated markets in the context of the digital world. The issues to be discussed are: key success factors for the industry, competitive advantage, target market, positioning, product strategy, pricing strategy, communication strategy and distribution strategy.

Through this assignment students will achieve the following learning objectives:
a) Develop their analytical skills.
b) Develop and demonstrate their ability to conduct academic research.
c) Develop and demonstrate their ability to write business reports.
d) Develop an in depth understanding of the fundamental marketing theories.

Project outline:

Students can choose the outline that they believe better serves their analysis.
However, in the context of that, the following questions need to be answered:

• The market, size, growth rate, macro environmental trends and their effect on the success of the product.

• Competitive analysis.

Define the industry in which the product competes. Discuss industry profitability and growth potential. Discuss direct and indirect competitors and needs they satisfy.Identify industry critical success factors (for example location for retailing, cost structure for budget fashion apparel industry, product uniqueness for technology products).

• The product idea: Analysis of the elements of the product and description of the new product idea, the positioning statement (to include the unique benefits and the reason why?)

• Analysis of the marketing strategy:
A critical review of the marketing strategy including price, place, promotions and processes, people and place in case of services.

• A summary of key success criteria, which can be generalized and supported by the review of the relevant academic literature. Students need to identify and justify criteria of success (based on which factual metrics do you consider that as a successful launch?)Trial, penetration, repeat purchase rate, loyalty, market share, customer satisfaction etc.

Marking Criteria:

• Quality of academic resourcesand quality of research used to support business analysis (to include theoretical discussion from peer reviewed academic journals like Journal of marketing, Harvard business review, Journal of marketing research etc.) 5 points
• Presentation, referencing, structure and general presentation of report (includes formatting, coherence, clarity, spelling and grammar)5 points
• Industry/Market/Competitive analysis 10 points
• Critical analysis of marketing strategy 15 points
• Conclusion on key success criteria for new product launchsupported by theoretical framework identified in literature review 5 points
CW2: Element 2 – Participation. Students will be required to be prepared to engage in discussion with the lecturer and peers on topics discussed in class and on case studies either in class or through group blogs. 10%

Assessment criteria for group blog on process:

The students have to blog on a weekly basis and demonstrate the process, the challenges, the decision making required, the action points, the persons responsible for specific actions etc., and all the important steps followed for the developmentof the new product launch plan or the case studies discussed in class (whenever tutor requires that).
Every member of the group can write on the blog, however it is recommended that only one member will report the process on a weekly basis.

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