Below is a description of what the marketing plan is going to be about. I’m also attaching the guideline for the marketing plan and an example of marketing plan that the professor has provided!
Product for your Term Project
A NEW product is a product new for the company NOT new to the world(Invention).
Remember that every time a company brings a new product on the market, it means it is a new product for the company itself – NOT new to the world, its direct competitors already market the same or almost the same product under their own brand name and packaging.
Therefore for your project you need to come up with an organic product, which is going to be your own even if the same product is already sold by your competitors under their own brand name. It means that you select the organic ingredients (may be adding something that the competition does not have: vitamins, herbs,…….), choose a brand name (could be your own name), come up with your own packaging (box, bottle, jar, label, with your own graphics and colors), make decisions about the channel of distribution, and how to price and promote your product.