Assignment

Part B: Your Marketing Plan

Overview

Using the same hypothetical company from Part A: Your Marketing Plan, 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 make all assumptions needed for the completion of this assignment.

Instructions

Create the second part of your marketing plan in 8–12 pages:

1. 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.

Feedback to Learner

Introduction: You did well introducing your hypothetical company. Your product/service is clear, the physical location is defined and you successfully introduced the elements of your marketing plan. Great job!

Mission Statement: This is a good mission statement, but more rationale was needed. Only four of the five questions in a mission statement were addressed. What does the mission statement convey to consumers/customers as well as internal employees and stakeholders -see the purpose of a mission statement, page 21 of textbook

Goals: The goals you indicated for the short term and long term were specific and realistic; ways to measure them were identified.

Environmental Analysis: All the elements of the environmental analysis were addressed and explained. Good job being thorough and exhibiting an understanding of the environmental factors. Remember that environmental factors are outside of your direct control, but each of these factors has influence over your business.

SWOT Analysis: The SWOT and Needs Analyses are on target and show how your company will fare in the market. Your strengths and weaknesses are clearly internal as you can control them. Your opportunities and threats are clearly derived from the environmental analysis and, while you cannot control them, they can have a direct impact on your hypothetical business.

References and Citation: Your paper does not meet the required number of academic, peer reviewed references; some or all references poor quality choices. There were only two (2) academic, peer reviewed references. In order to receive most points, you must submit four (4) or more academic, peer reviewed references. These resources should be industry specific and relate to your chosen product / service. Note: Newspapers, magazines, and other Websites do not qualify as academic, peer reviewed resources. Academic references are peer-reviewed and found in scholarly journals published in the last 5 years. A good way to incorporate is by using Journal of Marketing for your theories and consumer behavior observations. Listing your references without applying them in your text (citations) is not acceptable. Every statement you make that you got from somewhere needs to be paraphrased (not copied and pasted) and cited along with reference provided in reference section. Click here for more info on references and citations formatting.

Overall, I really like the way that you wrote your paper. It was clearly written, and very well-organized, which made it very easy to follow your analysis.

2. Develop a branding strategy for your product or service that covers the brand name, logo, slogan, and at least one brand extension.

3. Thoroughly analyze the primary and secondary markets that you want to target. Thoroughly include the demographic profile (age, gender, ethnicity, and so on), psychographic profile, professional profile, geographic profile, and any other segment you deem necessary.

4. 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.

5. Examine the relevant consumer behavior for your target market. Explain the main reasons why the brand name, logo, slogan, brand extension, and positioning statement are right for the identified target market.

6. Use at least three academic resources as quantitative marketing research to determine the feasibility of your product or service. These resources should be industry specific and relate to your chosen product or service.