In my MKT 111 class (Principles of Marketing), we are required to complete a group project. In MKT 111, exams are only worth fifty percent total which means there is a lot of weight on things like projects and participation. For our project, we are required to take an assigned brand and come up with a new product idea. Our group was assigned Aquafine which is owned by Pepsi. For the first stage, we need to analyze the Aquafina. We first need to come up with a descriptive overview of the brand. We then need to perform a SWOT analysis which stands for strengths weaknesses opportunities and threats. After the SWOT analysis, we need to determine the objectives of the brand. After the analysis of the brand is complete, we are to come up with a new product concept. I believe that our group got one of the harder brands because it is not exactly easy to innovate water (some groups had brands like the iPod). Eventually, we will come up with something worthwhile, but it may take a lot of brain storming to come up with an innovative product for the Aquafina brand.
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