Grade Value 15% of the course grade. Working Format Individual students compl

Grade Value
15% of the course grade.
Working Format
Individual students complete this project.
Purpose
Apply course concepts to identify a product enhancement or change, a marketplace trend or force, and an appropriate target audience, and develop marketing strategies for a Canadian launch in Jan of the coming year. The product must offer the target audience benefits/value not offered in the Canadian marketplace.
Marketing Exercises
Four marketing exercises are completed relating to required marketing project elements. Exercises encourage progress in the project, allow students to apply learned concepts, and offer instructor feedback. All exercises require preparation before scheduled in-class completion.
Research
Research information in the project submission must be cited and referenced using APA standards. Library research is strongly recommended. Good information sources are manufacturer/brand websites, industry reports from respected organizations, articles by respected publications, research papers, Canadian government websites, and other legitimate reference materials/websites.
1.Select a Product Sold in Canada
Research and choose a product..
2.Identify Buyers (and Non-Buyers) of the Product
Identify targeted and/or regular buyers and those who do not regularly buy the product. Identify why the product is popular or unpopular with these buyer groups.
3.Select a Canadian Marketplace Trend (or force)
Choose a trend (from our e-Textbook, CH2) that may be raising consumer demand now or which may do so in the future.
4.Identify a Promising Potential Audience
Identify a consumer segment impacted by the trend and desiring product benefits currently unavailable in the Canadian market. 5. Propose a Product Change that Responds to the Segment’s Needs
Propose an adjustment to the selected product to satisfy the potential audience’s needs.
6.Develop a Marketing Mix for the New Product or Version What innovation will enhance an existing product……
…resulting in a new or unique product version…..,
…..AND….
… to which SPECIFIC GROUP OF BUYERS will the new product be….
….MORE APPEALING, VALUABLE AND/OR BENEFICIAL……
….compared to existing products in the marketplace?