You will prepare a marketing plan for an actual or hypothetical product or service. To complete the project, you must do the following: You will be required to choose a new product or service in an existing product/service category. Existing brand names cannot be used. Create a marketing plan following the guidelines covered in the course, as well, using your own research; describing the existing situation including target market, company objectives and existing competitors in the marketplace. Identify the customers for your specific product or service and describe these consumers in relevant ways (demographics, lifestyles, knowledge of product, etc.) Explain why your new product/service would be appropriate for your target market. This step will involve market research (one-on-one interviewing of a small group of potential users of the product or service and/or a survey of a larger sample of potential users, if possible, given our current pandemic). Outline a marketing strategy for the new product or service. This should include a description of the product/service and its benefits, pricing and positioning strategy, advertising and promotional plans, and a consideration of distribution channel(s).