MK101 Marketing Foundations Report Sample
Assignment Details
Developing and Marketing a New Product
Purpose
Developing and Marketing a New Product/Service affords an opportunity to integrate concepts and principles from the entire course and provides experience in market analysis, strategy development, and decision-making. The uni assignment allows you to creatively apply marketing principles and develop and demonstrate critical thinking skills.
Project Task:
Step 1: Choose a Business
Assume you are part of a team in the strategic planning department of an Actual Company (You may choose any type of Company /business i.e., Food, Technology, Restaurant, Banking, Airline, Auto, Communications, etc.)
Step 2: Develop a New Product for that Business
As a marketing professional, you have been charged with the responsibility for developing a new product or service. Be as creative as you like. If you have difficulty getting started.... ask yourself, “Where do ideas come from ?”Some Suggestions:
1. What products/services have you used recently purchased which did not satisfy you or meet your expectations? Could you improve on this product/service? How?
2. What new methods of reaching markets have evolved? Would an existing product/service offered via a new delivery method appeal to an unserved market?
3. What retailers/entertainment outlets/restaurants have you visited lately? What did you like or not like? What could be improved or modified to better serve the changing market place?
4. If you have visited other countries, what products/services did you see that were not available back home? Would these products fill a need here at home?
5. Ask friends, parents or coworkers for suggestions on products and services. Their experiences as consumers could provide fresh insights.
6. Other sources might include Network News, and local news, current journals and magazines…but do not overlook ideas from any programming and/or advertising for hidden opportunities.
You are required to submit a 10 page written summary (not including the Ad or illustrations) of how you will develop and market the product/service.
Your project should include the following:
1. Mission Statement for your entire Company
2. Goals and Objectives of the Company
3. SWOT Analysis
4. Portfolio Analysis/BCG Matrix
5. Brand name for your NEW product/service including a Slogan
6. What makes this product unique? What is your competitive advantage.
7. Marketing segmentation analysis and target market analysis.
8. Position strategy and perceptual map including the Competition.
9. Product strategy and Pricing strategy.
10. Distribution strategy.
11. Promotion strategy….You are also required to design a Print ad containing copy, headlines and illustrations and Digital Video Ad for the New Product/Service. The Digital Ad should be embedded into the project You should also include what type media you will use and your Media Schedule,
12. What Growth Strategies will you consider?
13. How will you maintain your Competitive Advantage?
14. Draft (Optional)
15. Review and Revisions
16. Final Project
Solution
1. Background and Introduction
The automobile sector is witnessing a considerable transformation due to a significant shift towards eco-friendly and sustainable transportation solutions. Various automotive companies are adopting sustainable approach in their product development to counter environmental issues and provide sustainable products to the customers. In the recent times, electric scooters have gained a strong attention fuelled by urbanisation, stricter environmental rules and growth in battery technology. Therefore, the current project focuses on developing and marketing a new product for a company, Honda Motor Co. Ltd. and its e-scooter product having a feature of swappable battery for urban commute. Honda is engaged in an automobile manufacturing sector and holds range of automobiles, motorcycles, commercial vehicles, scooters, electric generators, etc. (Forbes, 2025).
The organisation, leveraging its brand value for quality and innovation, can acquire a considerable share of the e-scooter market by providing a cutting-edge e-scooter developed for urban commuting. Moreover, there is an increasing number of environmentally conscious customers, who prefer e-scooters as a sustainable transportation alternative. The study will include various marketing principles, which can support in the marketing of the product to the targeted audiences.
2. Mission Statement of Honda
The mission of the organisation is supplying products of the highest quality at a reasonable cost to global customers.
3. Goals and Objectives of Honda
Goals
• Providing products and services, which expand dreams and potential of people (Honda, 2025).
• Taking on new challenges while being driven by a significant passion for realising the firm’s value proposition.
• Maintaining respect for the individual focusing on initiative, equality and trust factor (Honda, 2025).
Objectives
• Creating a safer society by improving the safety of all automobiles and road users.
• Achieving zero traffic accident fatalities and realising a recycling-oriented society with zero environmental impact (Honda, 2025).
• Have 100% of Honda’s worldwide sales consist of Fuel Cell Electric Vehicles (FCEVs) and Battery Electric Vehicles (EVs) by 2040 (Honda, 2025).
Product Name and Slogan
The new product being launched by Honda is E-Scooter with Swappable Battery. It will be marketed with the slogan- “Power Up, Swap Out, Ride On”.
4. SWOT Analysis
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Table 1: SWOT Analysis
(Source: Self-constructed)
5. BCG Matrix
The BCG matrix can be described as one of the ways of determining the product portfolio of an organisation so that effective and ineffective products can be highlighted (Gorb et al., 2022). The BCG matrix of the company has been highlighted below.
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Table 2: BCG Matrix of the company
(Source: Self-constructed)
The company will need to start investing in its star product so that it can have a strong market position in the green transportation aspects. Additionally, the company will need to evaluate the question products so that it can achieve the extensive market potential.
6. Uniqueness and competitive advantage
Unlike the different types of traditional E-scooters that rely on fixed batteries requiring hours of charging, the swappable battery feature can help to include instant power replacement while decreasing the downtime of users. Additionally, the new E-scooter is perfectly aligned with the global sustainability goal while promoting clean energy usage and reduced carbon emissions in the environment (Olabi et al., 2023). Smart devices will also be properly integrated into the new E-scooter so that battery health can be monitored properly. Additionally, the user-friendliness of the new scooter can also be increased with the introduction of the new product. The company is bound to have a range of different competitive advantages after starting to sell the new E-scooter. The most important competitive advantages from the perspective of the company are as follows.
Competitive Advantage
• The market reach and global reputation of Honda are quite extensive (Olabi et al., 2023). This will help the company to have a stronger foundation for launching as well as scaling the new E-scooter in both emerging and existing marketplaces. The proven track record of the company in terms of customer trust and automotive innovation can also be identified as an extensive competitive advantage of the company.
• Besides that, there are few companies who have adopted and implemented the swappable battery technology, which is making the company a pioneer in addressing the specific customer needs. Fixed charging systems can be successfully reduced with the help of this specific new product and this will also help the company to get some adequate competitive advantages (Sadeghian et al., 2022).
• Honda has some extensive and effective manufacturing capability, which can be helpful during economies of scale. With the help of the economies of scale, it will be possible for the company to produce the new E-scooter at a lowered cost range without extensively compromising the overall quality.
• Honda is also known for its extensive global network, which can also help the company to make sure that the new scooter is widely available in a range of different marketplaces from the start.
7. Market Segmentation Analysis
A table has been represented below in order to conduct an effective market segmentation analysis from the perspective of Honda’s new E-Scooter with swappable batteries.
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Table 3: Market segmentation analysis for Honda's E-scooter with swappable batteries
(Source: Self-constructed)
8. Target Market Analysis
Urban commuters, including young professionals, students, and environmentally conscious individuals primarily in metropolitan areas across Asia, Europe, and North America can be identified as the primary target market. In the recent times, the market of e-scooters is continuously increasing and this is providing new market opportunity to the company.
9. Positioning Strategy and Perceptual Map
Market position is an important part of a business to identify where the business stands in the target market (Sudirjo, 2023). By targeting the swappable battery system, Honda can deal with quick batter exchange facility for customers. This is helpful for holding a competitive market position while operating in the Australian market. Zero-Emission design of the scooters can be also an important aspect to deal with eco-friendly urban mobility, which will highlight a competitive market position for Honda. VoroMotors and Falcon Australia are the manufacturer of electric scooters. However, Falcon’s T350 is a foldable mobility scooter (Falcon Australia, 2024). This can be a strong competitor of Honda. As battery swapping service is not available for Falcon’s creation, there can be an effective opportunity for Honda to compete the brand and get success in the Australian urban areas. Besides the mentioned, the company can deal with premium quality with affordable service facilities by which competitive market position can be gained with a successful opportunity.
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Figure 1: Perceptual Map
(Source: self-developed)
10. Product Strategy and Pricing Strategy
In the case of product strategy, Honda will ensure that the E-Scooters can include swappable battery by which urban areas can have an opportunity to swap the battery as per users’ needs. In addition, this strategy can be marked as a convenient approach. This can act as a positive aspect regarding customer satisfaction. A suitable product strategy is effective for a business to develop customer engagement (Katsikeas, Leonidou & Zeriti, 2020). Besides the mentioned, the company can ensure the availability of smart systems such as GPS tracking, anti-theft systems and ride analytics by which customers can be attracted.
Table 1: Product Strategy
(Source: Self-developed)
A proper pricing strategy is needed to set for a company to enhance sales as well as customer engagement (Ali& Anwar, 2021). For Honda’s E-Scooters, a competitive pricing strategy will be beneficial. At the launch, lowering the price than competitors can be effective to attract budget-conscious urban customers. In addition, a subscription model for batteries can be an effective move for the company.
11. Distribution Strategy
An appropriate distribution strategy is advantageous for a business to achieve success in the target market (Abiodun& Kolade, 2020). For the present business idea, omnichannel distribution such as launching in Honda’s website and involving Amazon can be an effective move. In the case of offline channels, Honda can target its worldwide distributors to showcase and sell E-Scooters. However, dealing with subscription plans can be another distribution strategy. For instance, subscription-based battery services can be an important aspect for customers to swap batteries by paying lower amount. Besides this, Fleet Partnerships such as partnering with Uber can be an important move of the company to sell E-Scooters in bulk.
12. Promotional Strategy
Digital Marketing
Digital marketing is a booming marketing option for a brand to reach a wider audience (Kingsnorth, 2022). In the case of Honda’s E-Scooters, creating buzz on social media channels like Instagram, TikTok and YouTuber by targeting videos relevant to swappable battery system can be advantageous. A 3-Month Social Media Promotion Schedule for Honda’s E-Scooter is represented below.
In addition, engaging influencers to deal with influence marketing can be beneficial to reach customers. Using Google Ads as a mode of Search Engine Marketing can be advantageous for the company to enhance sales.
Figure 2: Digital Banner for Honda's E-Scooter
(Source: self-developed)
Offline Marketing
Hosting events can be an important strategy for Honda to promote E-Scooters. In addition, it can be stated that offering pre-offer discounts can be an attractive option for buyers to increase customer engagement. In urban areas, setting up pop-up stores can be another feasible and valid choice for Honda to enhance the marketing of its E-Scooters.
Apart from this, content marketing such as storytelling and user testimonials can be advantageous for the company to attract customers. Moreover, strategic partnerships like being engaged with charging service providers and working with government bodies to promote electric mobility initiatives can be effective as marketing modes.
13. Growth Strategies
Market expansion will be a beneficial growth strategy for Honda. In addition, global expansion can be also important for the company to generate revenues from E-Scooters. Moreover, innovation like improved batter technology can be also considered as a growth strategy for the company. In the case of product portfolio, launching E-Bikes and aiming at micro-mobility solutions can be effective.
14. Ways of Maintaining Competitive Advantages
Competitive advantage is significant to aim at continuous success opportunities for a brand (Darmawan & Grenier, 2021). In the case of Honda’s E-Scooters, innovative features can be an important aspect by which competitiveness can be scaled. For instance, developing swappable battery technology like faster swapping and introducing smart features like AI-based maintenance can be advantageous to attract customers. Providing users to customise their choices like colours and features can be an important aspect to engage customers from urban areas. Besides the mentioned, sustainable leadership like including recycling programs for used batteries can be an attractive move for Honda to enhance customer awareness about sustainability. Moreover, providing after-sales service can be also a competitive factor by which sales and revenue can be increased. As a result, the company can be competitive in the target market. Further, Honda can develop a mobile application to synchronise Scooter’s data to notify servicing needs and other accessory failures. In this manner, competitive advantages can be in favour of Honda’s E-Scooters.
Reference List
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