Assignment 2: Part B: Your Marketing Plan
Due Week 6 and worth 240 points
Using the same hypothetical company from Assignment 1, for this assignment, you will focus on the company’s branding strategy, primary and secondary target markets, positioning statement, and consumer behavior.
Note: You should create and/or make all necessary assumptions needed for the completion of this assignment.
Instructions
Create the second part of your marketing plan:
- Describe or list the feedback you received on Part A of your marketing plan. Explain how you will use the feedback to improve your plan.
- Develop a branding strategy for your product / service that covers the brand name, logo, slogan, and at least one brand extension.
- Thoroughly analyze the primary and secondary markets that you want to target. Thoroughly include the demographic profile (e.g., age, gender, ethnicity, etc.), psychographic profile, professional profile, geographic profile, and any other segmentation variable you deem necessary.
- Prepare a positioning statement. Include a perceptual map that shows your company’s position against its competitors. From this map, create a statement that depicts your position.
- Examine the relevant consumer behavior for your target market. Explain the main reasons why the brand name, logo, slogan, brand extension, as well as the positioning statement are right for the identified target market.
- Use at least three academic resources as quantitative marketing research to determine the feasibility of your product / service. These resources should be industry specific and relate to your chosen product / service.
Note: Wikipedia and other similar websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
- Be typed, double- spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
- Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
1. Analyze marketing environments and strategies used to strengthen product or service positioning.
c. Examine the marketing science of customer behavior and products in the marketing exchange process.
2. Evaluate marketing strategies used to create/communicate customer value.
a. Analyze the marketing framework through a situation analysis.
b. Evaluate target customer segments and positioning products within these segments.
c. Evaluate the basis for market segmentation and approaches to segmentation.
3. Create an effective marketing plan.
a. Develop recommendations based on market analysis and strategy.
b. Develop strategies to assess performance and achieve marketing goals.
c. Develop dynamic strategies for competing.
d. Develop branding strategies for existing and new products or services.
Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric found here.
Feedback from PART A.
You did well introducing your company.
The mission statement is succinct and straight forward with rationale.
The goals indicated for the short term and long term were specific and realistic; ways to measure them were identified.
All elements of the environmental analysis were addressed and explained. It is clear you have an understanding of the environmental factors: Competitive, Economic, Political/Legal, Technological, and Social.
The SWOT and Needs Analysis are on target and show how your company will fare in the market.
Make sure references are of high quality. These resources should be industry specific and relate to your chosen product/service. Note: Newspapers, magazines, and other websites do not qualify as academic resources. Quality references are peer-reviewed or in scholarly journals published in the last five years. You must include in-text citations for all references listed. Also, all information used from a source must be paraphrased, cited, and referenced in APA. For further help please see: https://owl.english.purdue.edu/owl/resource/560/03/ or https://www.apastyle.org/
Some APA reminders: Do not use the first or second person in APA. Eliminate the use of I, we, our, you, yours, etc. Please use the templates EXACTLY as provided in assignments and announcements. Don’t change bolding or add spaces, etc. The templates are APA formatted and have all rubric requirements. Please make sure to proofread before submission. One of the best ways to do this is to read your paper aloud. Hearing what you’ve written is a great way to catch grammatical issues. Avoid contractions in APA. Spell out numbers zero to nine. Please see the Strayer Writing Center for further help as well as www.grammarly.com
Thank you for taking the time to review the feedback. If you have any questions, please email me at rachel.burger@strayer.eduTake care. Dr. B
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