In this assignment, you will analyze and assess the literature on marketing new products, identify key success factors, and provide solutions based on the literature.
You have been hired as a consultant to work with the marketing manager for a company of your choice. The company is launching a new product. You have been asked to provide specific recommendations for marketing this product.
- Describe the company you selected, the industry in which it operates, and the characteristics of the new product.
- Research at least seven peer-reviewed articles related to marketing newly developed products or services. Analyze the critical factors related to the development of new products or services and their relation to the marketing strategy.
- Prioritize the importance of each factor and select two or three that have been discussed in this course, which could have the highest impact on the success of the new product (e.g., developing product features, service offerings, pricing, promotion, distribution, etc.).
- Identify trends and current research conclusions related to the selected factors.
- Evaluate the relevance of behavioral economics, Big data, and social media in a marketing campaign for the selected product.
- Recommend best approaches for a successful marketing campaign for the product you chose.
Write a 8 page report in Word format. Utilize at least seven scholarly sources in your research. Make sure you write in a clear, concise, and organized manner; demonstrate ethical scholarship in accurate representation and attribution of sources; display accurate spelling, grammar, and punctuation.