The class will be divided into teams. Each team will complete a project for a Category of Consumer Package Goods whereby you (the new products managers for a current major manufacturer) will analyze the overall category including its size/revenue, etc. as it exists today. You will then look at your company and the key competitive manufactures/brands/revenue, market share, etc. Once the overall analysis is completed you will look at the key manufacturers positioning, key segments/sub-segments, benefits and determine an unmet category need that is sufficiently large to market toward. You will develop a new product to meet that need, as well as, develop a rough outline of a marketing campaign for your product. A formal written document will be submitted (Roughly 20 pages long) and a 20 minute formal presentation with time for questions will be required and held on December 11th . All students are required to participate in the formal presentation; preferably in equal amounts. Dress Business Professional for the occasion. Please have a hard copy of the slides and formal document for the instructor on the day you present.
Category selection is due by September 18th or sooner. An interim report is due on October 30th. The interim report will be at least 3 pages long and outline your progress to date. It must be emailed or handed to the professor before class time that day. At a minimum it must include the overall category revenue, key manufacturers, brands, revenue by brand, market share, etc. The Interim report represents a portion of the overall grade for this assignment.
Your group is the New Products Department for a Major U.S. Consumer Package Goods Company (you chose the company). Your company is well established in the category you are researching and developing product. To expand their market share, grow revenue and make more profit, you have been asked to find a new product opportunity of significant size to market in this category. In order to do this you need to completely analyze the category. This will include all competitors across all consumer groups, benefits, product features, behaviors, demos, as well as segments/sub-segments that many exist in the category. Once analyzed, you are in position to determine the best opportunity for revenue and profit potential in this category. You will create a rough Product/Package and a Marketing Plan with Creative for the media vehicles you chose (e.g. TV, Print, Internet). You also need to outline the Media Strategies, along with the marketing budget and P&L. It has to be a new product that does not exist or a major line extension for your company.
Your group will do the following:
1. Executive Summary
a. One page summary/overview at the beginning of your Paper/Presentation:
i. Summarize the main points of your project/presentation with at least one key graph ii. Address the two objectives directly:
1. How can you show your company's board of directors that this new product/line is strategic for the Company and grows revenue and profit?
2. How is this product uniquely positioned so as to be successful in the market?
2. Section 1: Category Analysis
a. Do a situational analysis (cite all sources):
i. Research your Product Category:
1. Overall Revenue, Manufacturers, Market Share, segments/sub-segments (graph).
2. Where is product sold? Distribution channels? Key Retailers (graph)?
3. Strengths and weaknesses of your company versus the other manufacturers in the category (graph)?
4. Regulatory issues? Consumer health issues? Moral Issues? Environmental issues? ii. Who is your company? 1. What does it stand for? 2. What are your strengths/weaknesses? SWOT Analysis (graph). 3. What is your major competitive advantage in this category? How are you using your strengths?
iii. In this section, I will be looking for a detailed picture of the overall category in