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Develop an end-to-end, strategic roadmap for a new product launch.
It is virtually impossible to successfully and efficiently sell a product, service, concept or even idea, without a clear strategy. With all the noise and continuously emerging competition, for any budding entrepreneur, this is more critical now than ever. In this Build Project, you’ll wear the hat of a Marketing Director and design a blueprint for success for a new product launch. This unique experience will give you the opportunity to step into the shoes of a senior leader and help you understand the ‘why’ and ‘what’ vs. the ‘how,’ which is where junior roles are mostly focused.
Don’t worry! You will not be on your own. Under the supervision of an experienced industry expert, you will devise a bottom-up marketing strategy, starting from the overarching big idea, derived from insights, through to the plan, execution and tracking. You’ll become familiar with market research, commercial strategy and marketing & media tactics. All of this will happen in an environment that simulates the operations for a real team and your project leader will support you through the process.
What is a marketing strategy? How does it fit into a business context? What do you need to build a comprehensive strategy/plan? You will be briefed on the full scope of the project and introduced to the terminology / concepts that will be used throughout the project.
What is the value proposition of a business? You will be taken through the process of defining the vision, mission, product offering for a business. You will also learn how to conduct a SWOT analysis to help you refine and define the final value proposition for their business.
You will be guided through the below to understand how to conduct market research to gather insights: 1) the concept of market research, 2) how to conduct market research, qualitative vs. quantitative, 3) how to analyze data, 4) how to evaluate the results, 6) how to utilize these insights to define the Unique Selling Proposition of your business and target market.
What does success look like? You will be introduced the the SMART method to goal set and create your own business SMART goals. Understand how continuous tracking helps to drive focus and provide learnings for future.
What are the 4P’s? You will learn what the 4P’s (product, price, place, promotion) are, and how to define your own for your business.
You will be introduced to 360 support models and integrated communications focusing on the paid/earned/owned model. Learn about media and non-working media support tools.
What is a P&L? You will be introduced to the P&L and all elements of the marketing budget to you create and interpret your own.
Present your findings & opinions to others, both in written and oral form. Submit your final report. Practice being a concise, effective communicator.
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Happy day everyone! Have you ever tried to search for connections to determine if something is meant to be? Well, my name is Caroline Chong, and everything about me starts with a “C.” I am a Canadian, Chinese, Chilean Capricorn that studied Commerce! I was born and raised in Vancouver, Canada and coming from quite a traditional family, I did not really think that studying away from home was an option. Fortunately, I was accepted into a very well-respected University about an hour from home, so this is where the stars aligned, and the universe decided I would go. I had thought about becoming a doctor, but my heart was not in it, despite coming from a family of doctors, so I jumped headfirst into getting accepted into the Sauder School of Business. The competition was fierce, but I got in and decided I wanted to major in Marketing.
Looking back, I am so happy about the path I chose and the places and adventures this decision has taken me. I really did not know what I wanted to do with my business degree when I graduated but this journey led me across various positions in sales, trade marketing and brand marketing, including leadership roles. I love the fact that throughout my career, whether I was working in food, household, or beauty, at the end of the day, being successful in your role all comes down to the fundamental core skills built and developed from day 1. I just started a new adventure as the Global VP of sales for a privately backed company, and before this, I was the VP of Brand Marketing for a well-known luxury skincare brand. It is amazing to be able to give consumers what they want and to see value creation in action!