Business 330 (Marketing) 200 words responding to the topic presented Assignment Topic 1: Consider an idea that you have had for a new product; a product that falls into that category of "Gee, I wish someone would develop_______…" or "…I' ll bet ______ would be a great product." Here is your chance to develop the idea into a potential product! Follow the 7 stages in the new product development process (found in ch. 10), submitting one explanatory paragraph for each of the 7 stages. Identify the stage, page number, & the specific application to your new product idea. Be creative. Where you may lack data to completely consider any of the 7 stages with respect to your imagined product, explain what would be necessary and/or what you know about the respective stage, as it relates to the product you are developing. Note: Remember that you are "imagining" or "creating" the information versus information that actually exists. Throughout each stage, be specific in the summary of your idea/product. This is an "outside the box" assignment, but standard formatting, spell check and grammatical accuracy is required CMP DRAFT 1 1. A thread that summarizes your group's commitment to the project. This should include key criteria such as group expectations for participation by group members as well as a schedule related to member participation. Note that the group project includes both individual posts, review and critique of member posts and finally, a group consolidation of information for each module. 2. A thread in Group DB Forum 1 explaining your idea for a new product, the name of the company that will launch the new product and a short description of the company. Read ch. 3 for changing consumer and environmental trends that give rise to unmet or changing needs. You should also read ch. 8 & 10 to get an idea how marketing research can be used to support the development of new products. 3. Finally, a thread with Draft 1 of your Marketing Plan (MP) attached as a Word file. Your draft should contain the following sections: · Company Description: Please see page 47 in your text for an example of the expected information in this section. · Strategic Focus: You must research the company and identify the company's mission (why the company exists; whom does the company serve) and (if possible) their vision (what does the company want to achieve - e.g., grow to become the industry leader, gain #1 status in the market; become known as an environmental leader). · Company Goals: This one may be more difficult, but you may be able to find annual statements for the company (if it is publicly traded) or comments / speeches by the company CEO / president that will help you to identify either financial or non-financial goals. · Core Competencies and Sustainable Competitive Advantage (SCA): Information on these two topics may not be readily apparent (especially the source of the company's SCA, but you should look for information on these topics as you w ...

1. Business 330 (Marketing)
200 words responding to the topic presented
Assignment Topic 1: Consider an idea that you have had for a
new product; a product that falls into that category of "Gee, I
wish someone would develop_______…" or "…I' ll bet ______
would be a great product."
Here is your chance to develop the idea into a potential product!
Follow the 7 stages in the new product development process
(found in ch. 10), submitting one explanatory paragraph for
each of the 7 stages. Identify the stage, page number, & the
specific application to your new product idea.
Be creative. Where you may lack data to completely consider
any of the 7 stages with respect to your imagined product,
explain what would be necessary and/or what you know about
the respective stage, as it relates to the product you are
developing.
Note: Remember that you are "imagining" or "creating" the
information versus information that actually exists.
Throughout each stage, be specific in the summary of your
idea/product.
This is an "outside the box" assignment, but standard
formatting, spell check and grammatical accuracy is required
CMP DRAFT 1
1. A thread that summarizes your group's commitment to the
project. This should include key criteria such as group
expectations for participation by group members as well as a
schedule related to member participation. Note that the group
project includes both individual posts, review and critique of
member posts and finally, a group consolidation of information

2. for each module.
2. A thread in Group DB Forum 1 explaining your idea for a
new product, the name of the company that will launch the new
product and a short description of the company. Read ch. 3 for
changing consumer and environmental trends that give rise to
unmet or changing needs. You should also read ch. 8 & 10 to
get an idea how marketing research can be used to support the
development of new products.
3. Finally, a thread with Draft 1 of your Marketing Plan (MP)
attached as a Word file. Your draft should contain the following
sections:
· Company Description: Please see page 47 in your text for an
example of the expected information in this section.
· Strategic Focus: You must research the company and identify
the company's mission (why the company exists; whom does the
company serve) and (if possible) their vision (what does the
company want to achieve - e.g., grow to become the industry
leader, gain #1 status in the market; become known as an
environmental leader).
· Company Goals: This one may be more difficult, but you may
be able to find annual statements for the company (if it is
publicly traded) or comments / speeches by the company CEO /
president that will help you to identify either financial or non-
financial goals.
· Core Competencies and Sustainable Competitive Advantage
(SCA): Information on these two topics may not be readily
apparent (especially the source of the company's SCA, but you
should look for information on these topics as you work through
the elements of the MP.
CMP DRAFT 2
1. A post with Draft 2 of your Marketing Plan attached as a
Word file. Draft 2 should include the following section:
2. Situation Analysis: Please review pp. 49 - 52 of the sample
MP. You should notice that Section 4 (Situation Analysis)

3. contains 5 major elements. They are:
· SWOT analysis
· Industry Analysis
· Key Competitors
· Company Analysis
· Customer Analysis
CMP DRAFT 3
· A thread in Group DB Forum 4 with the final Marketing Plan
attached as a Word file. In addition to the components
identified in the previous drafts, this final MP should include
the following sections:
· Marketing Programs & Financial Projections.
You should review pp. 54 & 55 of the text for examples of the
key issues that should be discusses within these sections of the
MP. You will need a comprehensive marketing program which
includes a discussion of: the Product Strategy, the Pricing
Strategy, the Promotion Strategy and the Distribution (channels)
Strategy.
The last section on Financial Projections should show a five
year projection of expected revenues. In addition, you should
present some type of idea when BE (break-even) will take place.
Companies that introduce new products generally do not make a
profit in “year 1” because of the high development and
marketing costs required to test and launch the product.
Obtaining costs will be difficult, but you should try to estimate
costs.
· Executive Summary (ES)
Finally, once the MP is written, you will need to write the
Executive Summary. The ES is written last, but is placed right
after the Table of Contents. You will want the reader to see the
ES first. If they like it, they may read on. If it does not excite
the reader, the MP will likely be discounted. The ES should
contain only the most important findings, conclusions and
recommendations contained within your plan.
· The Table of Contents
The Table of Contents should contain a list of major sections of

4. your marketing plan with the names of the group members that
participated in the actual writing of each section. This will
allow the instructor to evaluate each member’s contribution to
the overall group project.
· Appendices
The only Appendix required is a Reference List. Keep in mind
that data and key information may need citations, but will
surely require a reference list. A plan with no references will
be considered marginal since information sources add
considerable credibility to the ideas in your plan.
BUSI 330
Collaborative Marketing Plan (CMP)
Overview
Introduction
In many organizations, the assignment and completion of team-
based projects are increasingly done without any of the
participants physically meeting. The use of technology, such as
teleconferences, video-teleconferences, and computer
technology has allowed organizations to reduce the costs of
sending employees cross-country or even overseas. To be
successful in this kind of environment, you need the ability to
work with distant team members. This assignment provides the
experience necessary to help you gain that skill.
The Assignment
You will work with other classmates to complete a
Collaborative Marketing Plan that introduces a new product by
an existing Fortune 500 company. If your team has an idea that
would be a great fit for any company (perhaps even one that a

5. group member is working for), be sure to seek the instructor’s
permission before you implement it. Keep in mind that it is
usually difficult to research smaller companies (especially those
that are privately held unless you work for one and have good
internal sources of information). You can change the name of
the company if you wish to disguise the discussion of their
strengths, weaknesses, or other “possibly sensitive”
information.
Your groups will be formed during the first week of class per
the instructor. Once you are notified of your group, begin
working together on your Collaborative Marketing Plan. Please
conduct all work on this plan in your Group Discussion Board
(DB).
Your group will need to elect a project leader, set goals and
milestones, and use creativity in this endeavor to develop and
apply skills in a similar manner to real-world situations. It is
critical that each member participates in group activities. To do
less deprives every member, including the one who fails in his
or her responsibility to the group. In general, it is the
responsibility of the group to enforce its rules regarding
completion of assignments, participation in discussions, etc.
The instructor will be monitoring your Group DB forum on a
weekly basis and, as needed, will comment on your postings.
Part of your CMP grade is based on your participation.
This Plan will be completed in stages as described in the
Assignment Instructions folder. Each Draft assignment builds
on previous drafts toward the completed CMP due at the end of
the course. All CMP assignments must be submitted via the
designated Group DB forum.
Researching & Writing Your CMP
In your textbook, Appendix “A” (starting on p. 44 of the text) is
a very useful resource if you need to write a marketing or
business plan. The appendix contains a discussion of both
marketing and business plans and also provides a sample
marketing plan for a company called Paradise Kitchens, Inc.

6. Please read the plan from start to finish (pp. 46 – 57). The plan
is broken into 10 sections (plus appendices). You will be
required to include the first 7 sections in your CMP. Be sure to
write in APA format with Times New Roman, 12-point font,
double-spacing, indentation, and consistency in all labeling.
College level writing is expected for this project. Areas where
the students have had problems in the past are the following:
spelling and grammar, omission of required topics or subject
material, omission of outside references, plagiarism, and failure
to meet stated length requirements. Grammar is one of the
primary problems. Use the LU Online Writing Center as an aid.
CMP Accountability Table
The group concept of the CMP is intended to draw the skill and
effort of each student into each draft assignment and to the final
marketing plan. Thus, you are required to communicate and
post weekly contributions, thoughts, ideas, and other helpful
communication in your respective Group Discussion Board
forums. Because part of your grade is based on this
participation, it must be documented in the CMP Accountability
Table (XLS). This table is to be completed and submitted with
each progressive draft and with the final marketing plan. One
student within the group should manage this effort, accurately
reporting individual and team contribution.