Assume you have the role of a marketing manager for one, new, currently not available product on the behalf of a real, for- profit organization.
Brand Extension Marketing Plan Project;Introduction:The major project in this course is to complete a Brand Extension Marketing Plan for one new product on the behalf of an existing for-profit organization.;Project Assignment:As we begin our project here in Unit 1, you need to first assume you have the role of a marketing manager for one, new, currently not available product on the behalf of a real, for- profit organization. Consider this a ?brand extension?: you are adding a product to an existing company?s product line. This product may be introduced on a local, regional, national, or international scale.;It is very important that you fully comprehend what a brand extension is before you begin your major assignment. Find ?brand extension? in your Kotler text and make certain you understand the definition. Brand extensions fall into two categories: line extension and category extension. Be sure to understand the difference. Reading this section in your text will be extremely helpful to you!;Give careful thought to your selection. Remember that the proposal is for anew product for a new market. Extend the brand name into a new product offering. In other words, offer a ?new to the company? product. Companies may do this by buying an existing product or by importing a new product and putting their own name on it or by developing their own new product to compete in the market.;Be sure to follow the Brand Extension Marketing Plan directions contained in the guide located in Doc Sharing. It is important to address each and every question/segment in the rubric in order to receive maximum points. Remember that a fully-executed marketing plan contains a significant amount of detail! You can also find a good Sample Marketing Plan (Pegasus Sports International) in Chapter 2 of your Kotler text.;Be sure to thoroughly address each of the following questions in your Unit 1 Marketing Plan submission.;What is the brand name of your for-profit business/organization?;What is the new product, not currently in existence, that will generate revenue for which you will prepare a marketing plan and strategy during this class? Give the product a name and briefly describe it.;Look up ?brand extension? in your Kotler text and describe whether your product is considered a line or a category extension.;How will you acquire information to prepare your marketing plan during this class? What research will you undertake? Be specific.;Describe the key customer market (who are you targeting?);Will your new product be marketed domestically or globally? Why?;Submit your response to the above questions into the Unit 1 Assignment Dropbox.;Tip;The guide you should use for all Brand Extension Marketing Plan assignments is in Doc Sharing. You can also access it by clicking on the Resources icon below.;The Kotler & Keller text will be extremely useful to you when completing your ongoing weekly assignments. Be sure to review the Sample Marketing Plan (Pegasus Sports International) in Chapter 2 of your Kotler text.
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