The document is a 1000-word marketing project proposal and rationale for Occasion Ltd.'s Lifetime smartwatch product entering the UK market. It includes an executive summary, table of contents, introduction on the project plan and scope, and sections on project risks. The proposal aims to develop a marketing plan and launch the smartwatch with a $100,000 budget to acquire a 3% market share and $7 million in revenue in the UK within the first quarter.
The document is a 1000-word marketing project proposal and rationale for Occasion Ltd.'s Lifetime smartwatch product entering the UK market. It includes an executive summary, table of contents, introduction on the project plan and scope, and sections on project risks. The proposal aims to develop a marketing plan and launch the smartwatch with a $100,000 budget to acquire a 3% market share and $7 million in revenue in the UK within the first quarter.
The document is a 1000-word marketing project proposal and rationale for Occasion Ltd.'s Lifetime smartwatch product entering the UK market. It includes an executive summary, table of contents, introduction on the project plan and scope, and sections on project risks. The proposal aims to develop a marketing plan and launch the smartwatch with a $100,000 budget to acquire a 3% market share and $7 million in revenue in the UK within the first quarter.
The document is a 1000-word marketing project proposal and rationale for Occasion Ltd.'s Lifetime smartwatch product entering the UK market. It includes an executive summary, table of contents, introduction on the project plan and scope, and sections on project risks. The proposal aims to develop a marketing plan and launch the smartwatch with a $100,000 budget to acquire a 3% market share and $7 million in revenue in the UK within the first quarter.
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https://www.coursehero.com/file/188010444/20docx/ Executive summary The project report focuses on the marketing plan of the LifeTime product of Occasion Ltd. to emerge in the UK market and develop a high market revenue. The emergent marketing process is through the evolving process of researching the technological processing and aligning the team operations to perform in the new market by the sole proprietorship or partnership business strategy. They are required to invest more in market research for advanced technological development with the evolving time that the project risk issues must be mitigated if the financial issues are readily solved. The market cost overruns must be resolved to stay in the competitive market domain.
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https://www.coursehero.com/file/188010444/20docx/ Table of contents
a. The Project Plan 3
GANTT chart 3
b. Project Scope 3
c. Project Risk 4
d. Project Success 6
References 7
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Collecting requirements from key stakeholders The key stakeholders must be informed about the marketing plan and allow them to gather market information for furthering the research procedure (Tariq et al., 2020). The stakeholders are operating in the marketplace to collect important market details in the smartwatch industry for implementing the marketing plan. Defining the project scope The project scope must be communicated effectively to the stakeholders in the project statement for defining the scope of the project. Working structure The smartwatch project of LifeTime must be implemented in the market structure for implementing the definite working structures that help in the breakdown of marketing operational strategies. Project activities The marketing activities must be implemented through definite operational resources and accordingly allocating resources. Estimation cost and resources The estimated cost, time duration for the project budget and use of the marketing resources are required to be implemented within the marketplace. Allocating resources and project tasks The marketing resources must be allocated according to the project timeline and project tasks based on the interests of the project stakeholders. Contingency plan The contingency plan is necessary as a backup plan if the target audience does not purchase the LifeTime smartwatch product and the alternative suppliers, technical operation team and logistics services must be developed before the project management operations. GANTT chart Task name Week 1- Week 4- Week 7- Week Week Week Week 3 6 9 10-13 14-18 19-21 22-25 Collecting requirements from key
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Allocating resources and project tasks Contingency plan
b. Project Scope Marketing Plan For the Lifetime Smartwatch product, the marketing strategies are required to be involved with emergent marketing possess which involves the alignment with the marketing efforts that communicate with their customers authentically and develop the organisational value and cultural development. A meaningful connection with the customers can enhance the business value of the product branding through collaborative approaches and providing consistent marketing approaches for unified processing. The documentation of the smartwatch brand workshop for refining the strategic involvement of marketing insights in the UK market and information to succeed in the target revenue acquisition. Launch cost The new smartwatch, Lifetime, is required to be launched within the financial budget of $100,000 to progress in the UK market. The new project needs to acquire three per cent of the market share and acquire approximately $7 million in revenue from the global market within
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https://www.coursehero.com/file/188010444/20docx/ the launch of the first quarter (Kedir et al., 2022). The marketing plan will be executed for twelve months to expand the market in the UK. The technological innovations must be developed with strategic market operations to generate a high level of market revenue by investing $4 million in the market research and development process. Marketing channels The marketing channels operate through social media advertising and social media marketing platforms for transferring product services to their target customers. The other areas of marketing channels involve email marketing, public relations development in the industry, paid search through subscription and premium insurance in the e-commerce websites, displays of advertisements and influencer marketing strategies for evolving the marketing operations in the industrial context.
c. Project Risk
Project risk Risk issues description Mitigation process Time frame
factors
Marketing The cost overrun can occur The financial planning must 3-4 weeks cost due to the increase in the be strategised effectively and overruns market research department the inclusion of the for developing new contingency plan will help innovative technologies for promote the business. The business operations technical data collection must (Tsvirkun, and Topka, occur through a specific work 2019). The project budget breakdown structure. has not reached the required standards of budget for implementing the market operations in the smartwatch industry of the UK.
Delays in The management task is not The project manager must 2-3 weeks specific properly set for executing the interfere and take control of tasks project operations. With the the project operations and
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https://www.coursehero.com/file/188010444/20docx/ overloaded tasks to inform the project leader to implement within the given analyse and critically review time, the organisational the project tasks and process will require an implement the corrective effective operational actions to solve them management process for the effectively. delay of the tasks.
Issues in The lack of technical The technological assistance
marketing resources for implementing by incorporating the channels the project operations automation marketing regarding the new channel software to prepare smartwatch product, the intensified marketing Lifetime Product and lack of operations (Momeni, and human resources for Martinsuo, 2018). These progressing the marketing contribute to the increased project towards the gains of significance of the marketing market profitability in the development culminating in UK marketplace. The the inclusion of marketing maintenance of brand channel distribution within consistency is another issue the UK market. of evaluating marketing operations in the business context.
Competitive In-depth market research for The changing scenario of the 3-4 weeks market competitive market analysis competitive marketing forces issues requires the strategic in the smartwatch industry methods for the worldwide needs to determine the global market development. market size and based on that, implement the marketing strategies to expand the business in the newly emergent market.
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https://www.coursehero.com/file/188010444/20docx/ d. Project Success The project success will be measured by measuring certain components including the project schedule baseline, quality assurance development, project budget development, stakeholder satisfaction measurement and increased performance measurement through the business analysis. Scheduling the project baseline The appropriate scheduling of the project for the marketing strategies of smart watches in the new market will require the standard scheduling for constructing the project scheduling management (Per, 2021). The project schedule must be evaluated by the amount of tasks schedulnumber the amount of tasks required to be finished within the given time frame. The business project manager will review the project baseline strategies for further investigating the marketing strategies to develop the proper project schedules. Assuring quality development The quality assurance received from the customer feedback will be evaluated in terms of the standard business quality planning. This will require the development of the project management software for reviewing the technical tools assigned for the business strategies to implement in the marketing platform of the smartwatch industry in the UK. Project budget development The product, LifeTime is produced within the given financial budget of the business and must be managed with the existing financial resources. The project, if implemented within the available cost-effective budget, can be evaluated as a success (Scherer, and Katranuschkov, 2019). The project dashboard will show how much has been spent and how much is left and further processing the budget forecast ensures the tracking down of the project budget. Stakeholder satisfaction measurement The stakeholders' satisfaction can be measured by the statistical documentation which generates the subjective evaluation of the marketing operational process. This will provide supportive performance for the further marketing plensurend ensuring the influencing marketing behaviours to proceed in further expansion. Increased performance measurement The market benefits and productivity level increase also help develop the marketing procedure operate-commercee ecommerce platform for acquiring the market research data and utilise it for further developing marketing planning to expand the business.
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Kedir, N.S., Somi, S., Fayek, A.R. and Nguyen, P.H., 2022. Hybridization of reinforcement learning and agent-based modeling to optimize construction planning and scheduling. Automation in Construction, 142, p.104498.
Momeni, K. and Martinsuo, M.M., 2018. Allocating human resources to projects and services in dynamic project environments. International Journal of Managing Projects in Business.
Scherer, R.J. and Katranuschkov, P., 2019, July. Context capturing of multi-information resources for the data exchange in collaborative project environments. In Proceedings of the European Conference on Computing in Construction (EC3 2019).
Tariq, S., Ahmad, N., Ashraf, M.U., Alghamdi, A.M. and Alfakeeh, A.S., 2020. Measuring the impact of scope changes on project plan using EVM. IEEE Access, 8, pp.154589-154613.
Tsvirkun, A. and Topka, V., 2019. A planning and scheduling method for large-scale innovation projects. Advances in Systems Science and Applications, 19(4), pp.66-78.
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