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MKT 228: Final Project Guidelines and Grading Guide
Overview The final project for this course is the creation of a marketing plan for a global fashion marketer. Students will develop a marketing plan with a technology focus. The plan will include identification of the marketing mix and target markets, a complete SWOT analysis, identifying market segmentations while utilizing a customer relationship management (CRM) database to enhance the customer shopping experience, new product development opportunities, and identifying and explaining how technology will enhance the retailer’s supply chain. The final project, although not a complete marketing plan for a business, will identify and link the technology aspect of portions previously listed. Social media and its rapidly changing environment will also be addressed. The project is divided into four milestones, which will be submitted at various points throughout the course to scaffold learning and ensure quality final submission. These milestones will be submitted in Modules One, Two, Four, and Six. Final submission of the project will be in Module Seven.
Outcomes In this final project, you will create a marketing plan that demonstrates your mastery of the following course outcomes:
Students will demonstrate an understanding of the role that technology plays in fashion products development
Students will understand the value of using technology to enhance consumer’s shopping experience
Students will demonstrate an understanding of technology to create an effective and efficient supply chain system
Prompt Specifically, the following critical elements must be addressed:
1. Background: Technology in the fashion product development a. Identify a retailer with a strong online presence for your marketing plan. Describe its marketing mix and target market. b. Describe how the retailer is using technology to develop its products. c. In your description, include how the retailer is using technology within its marketing mix to reach its target market. d. Describe e-commerce’s role in pricing the product and describe the retailer’s sales channels.
2. Technology and the consumer shopping experience
a. Conduct a SWOT analysis and competitive analysis to determine how well your retailer can seize opportunities and minimize risks. b. Describe how a consumer relationship management (CRM) database allows your retailer to retain the segmented markets. c. Market segments: How does the business market to its segments? How has technology helped the business reach out to its segments? How has
technology changed the role between the retailer and the wholesalers, suppliers, or business partners? d. Describe ways technology is used to enhance the customer shopping experience.
3. Technology and supply chain systems
a. Identify the supply chain and explain the role technology plays in the logistics of the supply chain. b. Examine how technology has enhanced or hindered each element of the promotional mix. c. Explain how technology can make the supply chain more effective and efficient.
4. Conclusion
a. Summarize the overall role that technology plays in the fashion products development, the consumer shopping experiences, and the supply chain systems.
Milestones
Milestone One: Identify Retailer/Marketing Mix/Target Market In task 1-2, you will submit Milestone One. This is graded with the Milestone One Rubric.
1. Choose your online fashion retailer. Identify its marketing mix. a. Product-related questions
i. What new products has this retailer designed or developed in the last three to five years? ii. What technology does this retailer utilize to develop these products?
b. Price-related questions i. What is its pricing strategy for these new products?
ii. How has e-commerce played a role in its pricing philosophy? c. Placement-related questions
i. How does this retailer actually sell its products? For example, internet sales, direct mail, catalogue, retail shops, wholesale, peer-to-peer, or multichannel?
ii. What supply chain or logistical operations are in place to enhance its supply chain? d. Promotion
i. What media is used to promote these new products? ii. Cite the retailer’s webpage (or, if imaginary, the webpages that you referenced to create your retailer). Are you able to purchase directly
off the webpage? Does it link to social media sites? What benefits does the website give this particular retailer? Any disadvantages or changes you would make to the website to enhance its promotion?
2. Identify its target market: Who are its customers?
Milestone Two: SWOT Analysis In task 2-2, you will submit the SWOT analysis. This is graded with the Milestone Two Rubric. A SWOT analysis is an internal document used to identify and explain your strengths, weaknesses, opportunities, and threats. The most critical aspect of the SWOT analysis is for a retailer to determine its unique characteristics in terms of its strengths and weaknesses as compared to its competition. A strengths and weaknesses analysis indicates how well the business can seize opportunities (items the business has control over) and avoid harm from threats (items the business has NO control over) in the environment. The following two tables provide a visual representation of SWOT. The analysis is a detailed summary of each category.
Milestone Three: Market Segmentation and CRM Systems In task 4-2, you will submit Milestone Three. This is graded with the Milestone Three Rubric.
1. Divide your target market into segments. Address how the markets will be segmented and how the CRM will allow you to retain your segmented markets.
2. How does the business market to its segments? Specifically include the following: a. The promotional mix from Milestone One b. What technologies are in place to allow the business to “reach out” to its segments? c. How has the use of technology within this organization allowed the business to reach out to its markets to showcase its new products? d. How has the use of technology changed its interaction with its suppliers? Wholesalers? Other business partners?
3. There are five categories of new products: new inventions, new category entries, additions to product lines, product improvements, and repositioning target products to new markets for new uses. The process is the same regardless of the category. It includes idea generation, idea screening, concept development and testing, analyzing the business, prototype development, test marketing, and commercialization.
a. Once the new products are identified for your business (Milestone One), how has the use of technology helped or hindered this organization in determining which new products to develop?
b. How is technology utilized in the actual generation of the idea to commercialization phase? c. Describe ways that this business uses technology to enhance the customer shopping experience. Which products or opportunities should this
business produce to enhance its market share?
Milestone Four: Technology in the Supply Chain In task 6-2, you will submit Milestone Four. This is graded with the Milestone Four Rubric.
Supply chain management includes the management of transferring a product from one source to another. Whether it is from supplier to wholesaler, wholesaler to retailer, or retailer to consumer, information technology plays a large role in the process. Computer-based programs help manipulate the information and correlate supply chain improvements. This also allows for integration of all parties within the supply chain. Risks are reduced, management can be more efficient, and all parties can stay abreast of all communication and changes within the supply chain. Orders and payments can be transferred electronically, and troubleshooting potential issues becomes an easier task.
1. Identify the supply chain for the business. What role has technology played in the logistics of this supply chain? For example, if the inventory levels are growing (because of a threat to the business), adjustments need to be made in the manufacturing (or design) of those products. How will technology play a role in this situation?
2. Identify and describe the elements of the promotional mix. How has technology enhanced or hindered each element? 3. Explain how the elements will (or should) be combined into an integrated marketing plan. Which media are utilized? Which media are being under- or
over-utilized? 4. What can be done to make the supply chain more efficient? 5. How can technology help make the supply chain more effective and efficient?
Final Submission: Marketing Plan In task 7-2, students will submit their final marketing plan. It should be a complete, polished artifact containing all of the critical elements of the final project. It should reflect the incorporation of feedback gained throughout the course. This milestone will be graded using the Final Product Rubric (below).
Deliverable Milestones
Milestone Deliverables Module Due Grading
1 Identify Retailer/Marketing Mix/Target Market
One Graded separately; Milestone One Rubric—formative feedback from instructor
2 SWOT Analysis Two Graded separately; Milestone Two Rubric—formative feedback from instructor
3 Market Segmentation and CRM Systems Four Graded separately; Milestone Three Rubric—formative feedback from instructor
4 Technology in the Supply Chain Six Graded separately; Milestone Four Rubric—formative feedback from instructor
Final Submission: Marketing Plan Seven Graded separately; Final Product Rubric
Final Product Rubric Format: Written components of project must follow these formatting guidelines when applicable: double spacing, 12-point Times New Roman font, 1-inch margins, 8–10 pages in length, and discipline-appropriate citations. A minimum of six resources are required with this submission.
Critical Elements Exemplary (100%) Proficient (85%) Needs Improvement (55%) Not Evident (0%) Value
Background: Retailer
Identification, Marketing Mix and
Target Market
Meets “Proficient” criteria and substantiates ideas with research
Includes a summary of the retailer, the products marketed, location, and web presence
Includes a summary of the retailer, the products marketed, and location, but does not address the retailer’s web presence
Does not include store’s background/target market/marketing mix
10
Background: Use of Technology to
Develop Products
Meets “Proficient” criteria and cites clear and relevant examples to establish how technology is used to market the product(s)
Identifies the new products the retailer has designed or developed and how these are developed and marketed with technology
Identifies the new products the retailer has designed or developed and how these are developed, but does not explain how these are marketed with technology
Does not include the retailer’s use of technology to develop its products
5
Background: Pricing and Sales
Channels
Meets “Proficient” criteria and cites clear and relevant examples to establish how e- commerce plays a role in the pricing philosophy of the retailer
Explains the pricing strategy and analyzes how e-commerce plays a role in the pricing philosophy of the retailer
Explains the pricing strategy but does not sufficiently analyze how e-commerce plays a role in the pricing philosophy of the retailer
Does not include how technology is used to reach the target market
5
Background: Target Market Identification
Meets “Proficient” criteria and substantiates ideas with research
Identifies demographics, geography, psychological, and behavioral attributes of the retailer’s target market
Identifies the target market, but key elements are not fully explained, resulting in a lack of context
Does not identify target market
5
Technology and the Consumer Shopping
Experience: SWOT Chart
Provides a clear, concise summary (in a chart) of the retailer’s strengths, weaknesses, opportunities, and threats that clearly shows the unique characteristics of the retailer
Includes a summary (in a chart) of the retailer’s strengths, weaknesses, opportunities, and threats and uses appropriate examples for each section
Includes a summary (in a chart) of the retailer’s strengths, weaknesses, opportunities, and threats; however, chart is not comprehensive and does not capture the key characteristics of the retailer
Does not include a summary (in a chart)
5
Technology and the Consumer Shopping
Experience: SWOT Analysis
Meets “Proficient” criteria and cites clear and relevant examples of strengths, weaknesses, opportunities, and threats of the retailer
Contains a well-developed narrative providing retailer- specific details regarding each of the strengths, weaknesses, opportunities, and threats of the retailer
Contains a narrative providing retail-specific details, but does not explain how the details are strengths, weaknesses, opportunities, and threats
Does not include a narrative on strengths, weaknesses, opportunities, and threats
10
Technology and the Consumer Shopping
Experience: CRM
Meets “Proficient” criteria and provides clear and relevant examples of the retailer’s retention efforts
Explains how the CRM is managed and designed to aid in the retailer’s retention of its core customers
Explains how the CRM is managed, but does not explain the retailer’s retention efforts
Does not include CRM or retention efforts
5
Technology and the Consumer Shopping
Experience: Market Segments
Meets “Proficient” criteria and provides clear and relevant examples of each market segment
Includes a clear and concise distinction between appropriate market segments
Identifies market segments but does not include a clear and concise distinction between the segments
Does not identify market segments
5
Technology and Supply Chain
Systems: Logistics
Meets “Proficient” criteria and cites clear and relevant examples to establish the supply chain from manufacturer to end customer
Includes a summary of the retailer’s supply chain or the logistics of the retailer through increased use of technology
Includes a summary of the retailer’s supply chain, but does not explain technology’s use
Does not include a summary of the retailer’s supply chain
10
Technology and Supply Chain
Systems: Integrated
Marketing Plan
Meets “Proficient” criteria and cites clear and relevant examples of the retailer’s integrated marketing plan
Includes a summary of the retailer’s integrated marketing plan with emphasis on marketing media utilized
Includes a summary of the retailer’s integrated marketing plan, but does not address the marketing media used
Does not include a summary of the retailer’s integrated marketing plan
5
Technology and Supply Chain
Systems: Supply Chain
Efficiency/ Effectiveness
Meets “Proficient” criteria and cites a clear and relevant example of how to make the retailer’s supply chain more efficient and more effective
Includes a narrative on how to make the supply chain more effective and more efficient
Includes a narrative on how to make the supply chain more effective, but not more efficient
Does not include a narrative on making the supply chain more effective or more efficient
10
Conclusions: Product
Development
Meets “Proficient” criteria, and conclusion contains unique examples of how technology could be used for product development
Provides a comprehensive conclusion on the role of technology and product development
Does not sufficiently conclude how technology can be used with product development
Does not include conclusion on product development
5
Conclusions: Consumer Shopping
Experience
Meets “Proficient” criteria, and conclusion contains unique examples of how technology could be used to enhance the shopping experience
Provides a comprehensive conclusion on the role of technology and the consumer shopping experience
Does not sufficiently conclude how technology can be used to enhance the shopping experience
Does not include conclusion on shopping experience
5
Conclusions: Supply Chain Systems
Meets “Proficient” criteria, and conclusion contains unique examples of how technology could be used in the supply chain
Provides a comprehensive conclusion on the role of technology and the supply chain
Does not sufficiently conclude how technology can be used in the supply chain
Does not include conclusion on supply chain
5
Articulation of Response
Submission is free of errors related to citations, grammar, spelling, syntax, and organization and is presented in a professional and easy-to-read format
Submission has no major errors related to citations, grammar, spelling, syntax, or organization
Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas
Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas
10
Total 100%