1st component of the Marketing Plan, titled: Introduction and Idea for New Product Development

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Posting (500 words)

Write and post 500 words, analyzing the first component of the marketing plan, titled, ‘Introduction and New Product Development’. The marketing plan should open with an introduction, explaining the purpose, structure, and main goals of the plan. The Introduction helps top management to find the plan’s central points quickly. In addition, it makes navigation and understanding easier as it explains to the reader how the report is organized. Most importantly, however, the introduction is the ‘space’ in which you are expected to present and justify your new product idea. At the same time, you will have to access how this idea fits with your strategy, market position, skills and resources.

Your ‘Posting’ and ‘Responses’ to other student postings will be graded on a weekly 20 point scale:

Grading Rubric

• Address the right task – Component 1: Introduction and Idea for New Product Development) and the requirements presented above (3 Points)
• Support your analysis with at least 2 points from the week’s readings relating to strategy (1 point)
• Relate new content about the importance of creativity and innovative in new product development (1 point)
• Relate content to your own personal experiences as a professional or consumer (1 point)
• Critically analyze the content – your posting should not be just a summary of the reading. Justify your decision about the development of this particular product (3 points)
• Be grammatically correct and proofread for spelling errors. It counts in the real world, so it counts here too (1 point)

References must be utilized preferably Harvard Business review (Harvard referencing system must be used for any reference utilized).