Posted: May 9th, 2021
Brand Extension Marketing Plan Project
Introduction: The major project in this course is to complete a Brand Extension Marketing Plan for one new product on the behalf of an existing for-profit organization.
Project Assignment: As we begin our project here in Unit 1, you need to first assume you have the role of a marketing manager for one, new, currently not available product on the behalf of a real, for-profit organization. Consider this a “brand extension”: you are adding a product to an existing company’s product line. This product may be introduced on a local, regional, national, or international scale.
It is very important that you fully comprehend what a brand extension is before you begin your major assignment. Find “brand extension” in your Kotler text and make certain you understand the definition. Brand extensions fall into two categories: line extension and category extension. Be sure to understand the difference. Reading this section in your text will be extremely helpful to you!
Give careful thought to your selection. Remember that the proposal is for a new product for a new market. Extend the brand name into a new product offering. In other words, offer a “new to the company” product. Companies may do this by buying an existing product or by importing a new product and putting their own name on it or by developing their own new product to compete in the market.
Be sure to follow the Brand Extension Marketing Plan directions contained in the guide located in Doc Sharing. It is important to address each and every question/segment in the rubric in order to receive maximum points. Remember that a fully-executed marketing plan contains a significant amount of detail! You can also find a good Sample Marketing Plan (Pegasus Sports International) in Chapter 2 of your Kotler text.
Be sure to thoroughly address each of the following questions in your Unit 1 Marketing Plan submission.
? What is the brand name of your for-profit business/organization? ? What is the new product, not currently in existence, that will generate revenue for which you will prepare a marketing plan and strategy during this class? Give the product a name and briefly describe it. ? Look up “brand extension” in your Kotler text and describe whether your product is considered a line or a category extension. ? How will you acquire information to prepare your marketing plan during this class? What research will you undertake? Be specific. ? Describe the key customer market (who are you targeting?) ? Will your new product be marketed domestically or globally? Why?
Assignment Grading Rubric
Course: GB530 Unit: 1
Copyright Kaplan University
Submit your response to the above questions into the Unit 1 Assignment Dropbox.
The components of your Brand Extension Marketing Plan for Unit 1 are evaluated using this rubric.
Unit 1 Brand Extension Marketing Plan Assignment Criteria Possible Points Identified a new product that will generate revenue for which you will prepare a marketing plan and strategy. You gave the product a name and described it. 10 Looked up brand extension in your Kotler text and defined how your product fits this definition. Defined your brand as a line or category extension. 10 Stated how information will be acquired to prepare the brand extension marketing plan and described what research you will undertake. 10 Described the key customer market for the product. 5 Identified whether the new product be marketed domestically or globally. 5 Clear business writing. Spelling and grammar are acceptable. 10 Total
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