For this assignment assume you work as a marketing manager at a United States-ba

For this assignment assume you work as a marketing manager at a United States-based company that has experienced steady growth. Company leadership recognizes that continued growth will require a pipeline of new products with more customer-centric orientation. Your company has decided to sponsor an internal competition for new product ideas based on a similar contest held at PepsiCo (Beer, 2016).[2] The purpose and goal of this contest is to identify new revenue-producing products for your company.
A new product development committee (NPDC) has been formed with representatives from many areas of the company. Your boss, the VP of marketing, chairs the NPDC. You are among a large group of employees invited to propose ideas for new products to the NPDC. This is a great opportunity to get your ideas in front of upper management. However, there will be lots of competition, so you will need some solid product ideas and to write a persuasive memo communicating your ideas to the NPDC. Exciting, but not easy!
Instructions
Step One, choose a real company.
First, choose a real company based in the United States. A good company choice would be one that has a well-established market in the U.S. with a good deal of public information available, or one where you will be able to conduct original research by doing interviews with company managers. It should be a consumer-oriented company (B2C). You will be researching and writing about this company for several weeks, so give this choice careful thought.
A not-good company choice would be a small business, a start-up business, or a business idea that does not yet exist. Why? Most likely there will not be detailed market information available for the marketing plan you must construct later.
Your company choice does not have to be the company you work for, but it could be. What if you work in the military or government sector? Selling to one or a few customers will not work for this assignment. Choose a company with products targeted to individual consumers rather than the military or the government.
What if you work in the non-profit sector? Remember, the purpose and goal of this contest is to identify new revenue-producing products for the company of your choice. So, choose a company with products in a for-profit setting.
Step Two, consider some new products this company might offer and choose your best three ideas.
Product ideas should fulfill a want or need of your company’s customers. If your idea solves a problem, increases happiness, or lessens pain for a real customer you probably are thinking in the right direction.
The three ideas proposed must be:
A product. This should be a tangible product, not a service or an experience;
For individual consumers in the U.S. market;
A novel (new) offering;
Useful to the consumer; and
Feasible to produce with current available technology and offer to the consumer market within the next year.
Novelty should be measured as a product new to the company and also new in terms of the category or market. Offerings similar to what competitors are offering would not meet the novelty criterion.[3]
The ideas must not be:
“Free” or without cost to the consumer;
Minor enhancements of existing products or re-positionings; or
An electronic application such as a smart device app.
Example of “free” would be in-store experiences, events, social media experiences, customer experience improvements, give-away, free-with-purchase item, freemium models, etc.
Examples of minor enhancements would be a slight change to packaging or a price change. This also includes any repacking of existing offerings, such as a subscription box. Minor enhancements of existing products are not likely to impress company leadership, so they are not sufficient for this assignment.
See the grading rubric below for additional detail on how your ideas will be assessed for this assignment
Step Three
Write and submit a 2-page, single-spaced memorandum proposing THREE possible product ideas. The font size is 12. List your ideas in order of your preference (i.e., your best or favorite idea first, second-best listed second, etc).
This is a professional memorandum that you would submit in a marketing setting. Address this memo to the “Chair, New Product Development Committee – give that person a fictional name, any name you wish.
Format this a Professional Memorandum. Include these required sections.
Introduction [one paragraph]
Describe your role in marketing at the company and why you are writing. Assume this memo may be read by people who are not familiar with you and your work. Make a strong positive first impression!
Proposed Products [three paragraphs]
Product Idea #1: name and description. Discuss the usefulness to customer, feasibility, and what makes this novel.
Product Idea #2: name and description. Discuss the usefulness to customer, feasibility, and what makes this novel.
Product Idea #3: name and description. Discuss the usefulness to customer, feasibility, and what makes this novel.
Conclusion [one paragraph]
Thanking the chair of the NPDC for the opportunity and requesting feedback is a good way to conclude.

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