BUSN319 Week 1 | Marketing in Business - Devry university

BUSN319 Marketing Week 1 Course Project Topic Proposal Objectives The Course Project gives students the opportunity to synthesize all of the concepts in the BUSN319 Marketing course in a comprehensive marketing plan for a new product (a good or service). This approach enables students to combine functional expertise based on their own work experience and field of study.

Introduction

Product innovation and marketing are the only enduring competitive advantages that companies can use to survive and thrive in the marketplace. A marketing plan is a guide for those product innovations and marketing activities for a specified period of time, typically about 5 years. Marketing plans are used internally to guide marketing activities, or they can be used to communicate with external audiences to raise capital. There are important things to consider as the plan is created. Is the marketing idea valid? What is unique or distinctive about the product that separates it from competitors? Does a viable market exist for the product? Is the target market large enough, accessible, and capable of purchasing your product? Are the financial projections sound? Is the management team competent? How will investors get a return on their investments? In order to help you answer these and similar questions, create your marketing plan utilizing the following course resources. Building an Effective Marketing Plan located in Appendix A of your textbook Financial Aspects of Marketing located in Appendix B of your textbook View the marketing plan outline During Week 1, you will select a topic for the marketing plan, and thereafter, all related assignments (the draft in Week 4 and the final marketing plan in Week 7) must be on that same topic. You may not change your marketing plan topic without approval from your instructor. Your topic must be for a new product (a good or service). Because this is an applied project and not a research paper, please be creative and do not select a new product for a large brand, such as Starbucks. If you are interested in coffee, for example, consider your own bistro as your topic and then use information from companies like Starbucks or Seattle's Best Coffee for ideas and competitive research as you work on your project. For Week 1, write a two-page description of your product, including the following. Information about ownership and company structure A description of product A mission statement Marketing goals Who a typical customer might be Submit a copy of the Topic Proposal to the Week 1: Course Project Topic Proposal Upload module in Canvas for grading by your instructor.