Select a specific product or service in the healthcare or life sciences field that is different than the industry/field in which you work (i.e. if you work in pharma, select a med device or a hospital service, etc.). Do not select a specific company or brand that already exists in the market. Rather just select a generic (but specific) product or service. This is to prevent you from being swayed by the existing marketing approach of any particular company or brand.
Then, create a marketing plan for that product or service. This is a simple plan. You have one slide per topic below for a total of nine slides. You can use each slide however you think helpful to answer the questions below (though you are not limited to the questions below in providing a thorough and thoughtful plan for each topic). Points are fairly evenly spread across all nine slides/topics (with some gimme points for the title slide :)).
You will not be presenting these marketing plans, so you can fill your slides with a little more content than you might normally do. However, make sure the slides are clear, to the point, use visuals effectively, and tell a cohesive story. I do not expect you to do hours and hours of research for this project. Rather, the main goal is to show your understanding of the tools and concepts learned in the course. Use your imagination. You can make-up reasonable assumptions and details to create specificity in your work.
Title Page (5 pts extra credit for getting this right!)
Include: your name, photo of product/service, date
Use creativity for any other items on the title page
Market Overview (50 pts)
What are the key characteristics of this market that will impact your plan?
What are the major trends (technology, political, societal, etc.) in this space that you will need to account for in determining a plan for success?
Competitive Overview (50 pts)
Who are the key competitors and what kind of presence do they have in the market?
How are the key competitors positioned in the market and what are they good at? weak at?
Ta
rget Market and Brand Positioning (50 pts)
What criteria are you using to segment the market (WHO, WHAT, WHY)?
Who is your Target Market/Target Customer(s)? and Why?
What do your Target Customers REALLY care about?
What are the one or two attributes on which you will position your brand in order to be relevant to your Target Market?
Product Strategy (50 pts)
What is your product (features, attributes, etc.)?
Why is this the best product for your target customer?
What does this product offer that the competition does not? Feel free to create whatever product you want here (within reason) and dont worry about technical feasibility.
Channel Strategy (50 pts)
How will you get this product to market (sell direct, through distribution, etc.)?
What type of experience are you trying to create for your target customer that will convince them to come back to you again and again?
What are the critical functions that your customer requires in order to buy from you?
Pricing Strategy (50 pts)
How will you price your product? You do not need to do extensive pricing research or determine an exact $$ price. Instead, I want to know your pricing strategy (above/below competition, based on customer value, etc.).
Why is this your pricing strategy?
How will this maximize market share and/or financial return?
Promotional Strategy (50 pts)
What tools/media will you use to promote your product to your target customers?
What are the key messages that will resonate with this target customer?
Financial Goals and Desired Outcomes (50 pts)
How will you measure success of the product/service in the market? What metrics will you use?
How long do you think it will take to achieve the desired outcomes (i.e. a timeline for implementation)?
Good luck. Dont over think the assignment. The goal is to create a simple, yet strategic marketing plan that ties together Market Segmentation (STP) with all of the other decisions a marketer must make in launching a product/service into the market (4 Ps). Let me know if you have any questions or concerns.