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Quaid-e-Azam Post Graduate Medical College *

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MISC

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Marketing

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Nov 24, 2024

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docx

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Uploaded by SargentKnowledge11835

Assignment: Market Analysis and Entry Strategy for a New Product Course : Business Strategy and Market Research Due Date : [Insert Due Date] Instructions : In this assignment, you will assume the role of a strategic business analyst and develop a comprehensive market analysis and entry strategy for introducing a new product into a target market. Your task is to identify a product category and target market, conduct a thorough market analysis, and propose a viable entry strategy. Your analysis should be well-researched, data-driven, and include recommendations for market entry, positioning, and marketing mix. Assignment Components : 1. Product Selection (10 points) :  Choose a specific product category that you believe has potential in the market.  Provide a brief description of the chosen product and explain why you believe it is a viable option. 2. Market Research (20 points) :  Conduct market research to identify the target market for your product. Define the demographic, psychographic, and behavioral characteristics of your target audience.  Analyze the size, growth potential, and trends in the chosen market.  Identify key competitors and their market shares.  Assess consumer needs and preferences related to the product category. 3. Market Entry Strategy (30 points) :  Evaluate different market entry strategies, such as market penetration, market development, product development, or diversification.  Select the most suitable entry strategy for your product and justify your choice.  Provide a detailed plan for implementing the chosen entry strategy. 4. Positioning and Differentiation (20 points) :  Determine how you will position your product in the market to create a unique selling proposition (USP).  Explain how your product will differentiate itself from competitors.  Consider pricing, product features, branding, or distribution as elements of differentiation. 5. Marketing Mix (20 points) :  Develop a marketing mix (4Ps: Product, Price, Place, Promotion) for your product.  Explain the rationale behind each element of the marketing mix.

 Include a preliminary budget allocation for marketing activities. Submission Guidelines :  Your assignment should be typed, well-structured, and free from grammatical errors.  Include appropriate headings and subheadings for each section.  Use credible sources to support your analysis and cite them using a recognized citation style (e.g., APA, MLA).  Your assignment should be approximately 1500-2000 words in length (excluding references).  Include any relevant charts, graphs, or tables to illustrate your points. Grading Criteria : Your assignment will be graded based on the following criteria:  Thoroughness of research and analysis  Clarity and coherence of the written content  Justification of market entry strategy and positioning  Creativity and effectiveness of the marketing mix  Proper citation and referencing Important Note : Plagiarism or any form of academic dishonesty will not be tolerated and will result in a grade of zero for the assignment.

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