Innovation Commercialization
Marketing Plan
The
final project is a strategic marketing plan for an innovation idea. The idea or
the opportunity is embodied in the following:
Apple has also quietly begun building its
owncontent delivery network. Previously, the company has relied
on outside venders to distribute apps and video and to handle the iCloud
service. Having its own network would give Apple more control and pave the way
for its long-rumored TV service.
What
would this be, how would they do it and what would the market be?
The
report should consist of a maximum of 15 pages, and must cover the following
areas:
1.
Analysis of market
situation.
2.
Marketing strategy
formulation.
3.
Implementing strategy
through marketing mix.
Key
steps in preparing the marketing plan include:
1.
Define the business
situation which analyses past and present business achievements of the new
innovation initiative.
2.
Define the target
market, opportunities and threats.
3.
Market segmentation.
4.
Strengths and
weaknesses in target market.
5.
Goals and objectives
to measure the level of performance desired by the new venture.
An
action plan must be well defined and include:
1.
Specific activities
to meet relevant organizational goals related to this innovative initiative.
2.
Create a description
of the new product or service in the context of commercializing the innovation.
3.
Monetizing the
opportunity (revenue) will need to consider costs, margins or mark-ups, and
competition.
4.
Distribution options
that make the product convenient to the customer.
