MKT 571 Week 2 Team Assignment Marketing Plan Phase I

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For the first part of this plan, identify a new product idea for a company (company must be domiciled outside of the U.S) you would like to learn more about.  Then create a paper or outline (of approximately 2000 words) in which you include the following components for two different markets – your domestic market and a second market (cannot be the U.S.). You will be creating a marketing plan for both markets, simultaneously. 

Include the following components for both markets, based on your research:

– A description of the product and its attributes
– Market needs – how do you know the product is needed in both markets?
– Market growth- how big is the potential market and how fast it is growing in both markets?
– A brief SWOT analysis of the product idea – for both markets.  The internal analysis will be the same for both countries but the external analysis (O/T) will be different.
– Potential competition in both markets, based on research.

 

As the plan is developed, use the Sample Marketing Plan in Ch. 2 of Marketing Management as a guide in developing the components of your plan.

Be sure to review the instructor policies to insure you comply with reference and formatting requirements.

Click the Assignment Files tab to submit your assignment

Description

MKT 571 Week 2 Team Assignment Marketing Plan Phase I,

MKT 571 Week 2 NEW PRODUCT LAUNCH MARKETING PLAN Part 1

New Product Launch Marketing Plan, Part 1

Introduction

Businesses fulfill a need; two main components of a successful business deal with location and differentiation. Location is important for the overall operations and niche of the business; product differentiation guarantees prolonged growth through an active marketing strategy. All marketing strategies follow three main parts:  pre-launch, launch, and post-launch.

The pre-launch phase, also called the planning phase. It seeks to identify the product and the company’s position, and then build awareness through segmentation and target goals. Part one involves a lot of research in situation analysis, goal setting, and creating a marketing program. Part two deals with marketing implementation to gain brand personality. Finally, Part three reviews the results and focus on growth analysis. Each phase has sets of criteria or questions that must be considered or answered; each equally vital to the success of the product or service offered by the company.  Part one of this marketing plan will detail the pre-launch phase for ZENN Motor Company and the company’s introduction for Fuel Cell Vehicles (FCV).

Background

ZENN (Zero Emission No Noise) Motor Company Inc. is a small business in Toronto, Canada. Ian Clifford, founder, first incorporated the enterprise as Feel Good Cars, Inc. in late 2000, but later renamed it to ZENN in 2007. The original vision still prevailed to provide energy storage solutions and related technologies to the automatics industry. The company developed a low-speed vehicle (LSV), which sold in the United States and Quebec; however production stopped in April 2006. Now, the company purchases and deploys Electrical Energy Storage Units and supplies for automobiles, trucks, buses and street cars. It currently boasts a market cap of $ 17.94 million in a multibillion dollar industry (“Yahoo Finance – Zenn Motor Company Inc.,” 2014). As part of a new product initiative, ZENN plans to introduce new vehicles powered by fuel cells technology; which is a research base technology it already has experience in, and the manpower to support. “The ZENN Motor Company’s agreement with EEStor, Incorporated has resulted in the development of an Electrical Energy Storage Unit (EESU), which will potentially store over ten times the energy of lead-acid batteries on a volume basis” (Zenncars.com, 2014). “EEStor, Inc. is a privately held company in Austin, Texas with endeavors to manufacture and develop a high-energy-density ceramic ultra-capacitor, which will act as a very high capacity battery” (Zenncars.com 2014).

Fuel cells are one of the most reliable and environmentally sound methods of producing high-quality electricity in the industrial sector with very little air emissions in stationary and mobile applications. Over the years the cost to produce such electricity using fuel cells has decreased (Anna & Elliott, 2004). Today about 40 percent of the United States electric generation is being achieved by fuel cells (Anna & Elliott, 2004).  Using this type of technology allows ZENN and EEStor, Inc. to uphold its core mission:  the betterment of humanity and their ability to preserve the remaining valuable resources on the planet.

Product Description and Need

The vast majority of the public still has yet to become enlightened to the uses and benefits of electric vehicle transportation. The ZENN Motor Company plans to answer this constant age-old problem with the production and marketing of Fuel Cell Vehicles (FCV). The impact of this product will promote cleaner energy emissions- a viable alternative to a conventional internal combustion engine. The energy storage cells used in the production of these electric vehicles will revolutionize transportation on a global scale.

Adopting fuel cell automobiles reduces carbon emissions, preserves natural gas resources, and lessens the dependency on petroleum oil production from the Middle East. Moreover, it gives future generations the ability to thrive from the adaptation of electrical vehicles versus the perpetual use of the combustion type vehicle. The use of combustion-based vehicle is a global problem, and the development of this product has far-reaching potential. The positive implications resulting from the use of electrical vehicles will undoubtedly modify the current public’s social and environmental interfaces.

Through the use of technological research, development, and breakthroughs, ZENN will be able to manufacture and place a wide range of electrical vehicles on the

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