SEMESTER MARKETING PROJECT I expect that you will be thorough in your discussion

SEMESTER MARKETING PROJECTI expect that you will be thorough in your discussions todemonstrate mastery of the subject matter.Expect the assignment to cover five pages or more. Please include visual aids such asadvertisements or one dimensional drawings of your product. This project shouldbe produced in MS Word. You should also create a PowerPoint with slides includingdetailed notes that would be used as a presentation to accompany your writtenreport.Part I – BEGINNING YOUR PLAN·Generate an ideafor an entirely new and unique good or service in which:oproduct featuresare identifiedoproductdifferentiation is definedomarket demand isestimatedoproduct profitabilityis estimatedNote: A new product could be considered a variationon an existing product. For example, analarm clock shaped like a Harley-Davidson motorcycle that generates and enginenoise rather than a standard alarm. Yourproduct could also be a service provided to other consumers or businesses.Part II – THE PRODUCT·Provide adescription of the product / service, it’s differentiation from other productsin the market, and how it solves a customer’s problem or fills a need·Develop adistinctive logo, name, and/or slogan for your product·Develop packagingand labeling for your product and illustrate with a simple one-dimensionaldrawing·Also includeinformation concerning any warranties or servicing in conjunction with yourproductPART III – PLACE (Distribution)·Evaluate thevarious channels of distribution for the product·Identify yourprimary sources of distribution and how it will work·Estimate costsfor distribution (i.e., do you have to pay a sales person, or set up a website)PART IV – PROMOTION (Communication)·Develop a promotionalprogram for your productoWhat marketingtactics will you useoWhere will youplace addsoWho will youtarget, and whyoWhat will you sayto customers to entice them to purchasePART V – PRICE·What are thepricing objectives of your product?·What factorsinfluence price determination?·Evaluate each ofthe basic methods of setting prices in relationship to your product·Price yourproduct·What specialpricing strategies and/ or policies will you employ for your product?