BMI 3C1 MARKETING A NEW PRODUCT

The success of any new product depends on two factors:

(1) An adequate demand exists
(2) The product is properly marketed.

New Product Development

Your task is to think of a new product that would have a strong consumer demand. You
may invent a totally new product, innovate an existing product. The limitation to
manufacture your new invention/innovation is that it is technological feasible.
You may also select one of the products pitched on the CBC Dragon’s Den website
http://www.cbc.ca/video/#/Shows/Dragons'_Den

Marketing Your New Product

You will develop a marketing campaign for your new product. Remember the Product
Life Cycle? Your product is in the Introduction Stage. Create a PowerPoint
presentation containing the following information.
Product
 Provide a detailed description of your new product

 Describe the features and benefits

 Provide a picture/drawing/diagram of your product
 Describe the potential target market

 Be sure to discuss both demographic and psychographic characteristics

 State the name of your new product and explain why it would appeal to your target

market
Price
 Provide an explanation as to why you feel there will be consumer demand for your

new product
 Set a price and explain your pricing strategy

Place
 Describe where your product will be available for sale and explain why you selected

this network to sell your new product to your target market

 Retail outlets, Internet sales, infomercials, etc.

Promotion
 State the objectives of the advertising element of the campaign and state how

your campaign would meet these objectives

 A statement of the advertising media to be used and the rationale for this

selection. (your campaign is not limited to the print media and can also include any
other major media such as television and radio)
 a description of any sales promotion to be used during the marketing campaign

 identify the "sales techniques" used in your campaign and state your rationale for

using them
 make specific references to your advertisements and other promotional materials

New Product Development 2011-12

BMI 3C1 MARKETING A NEW PRODUCT
Print Advertisements
 create a minimum of two different print advertisements suitable for: magazines,

newspapers, billboards, posters, transit, direct mail

 refer to your notes and include the appropriate elements of a print advertisement

 remember the AIDA Formula when creating your ads

Summary
Provide a summary of your marketing campaign stating why you feel it will succeed in
moving your new product in the Growth Stage of the Product Life Cycle

The Marketing Plan is part of your summative evaluation for BMI3C1 and will be
weighted at 15% of your final mark. See rubric for details.

Content: (Thinking and Inquiry) /50 marks

 Product  Price  Place  Promotion  Summary

Print Advertisements: (Application) /30 marks

 two ads required  creativity and effort  overall effectiveness

PowerPoint: (Application) /20 marks

 effective fonts/background  effective animation  effective graphics

Presentation: (Communication) /20 marks

 well rehearsed  lively and enthusiastic  sells the product

Total /120 marks

New Product Development 2011-12